2 weeks ago
Buy or sell: Anand Rathi's Ganesh Dongre recommends three stocks
The stock market is like a big shop where people buy and sell small pieces of companies.
In India, the market had a mostly down week, which means many pieces went down in price.
Big oil prices and worries about problems in the Middle East made people nervous.
A market expert named Ganesh Dongre looks at charts to guess where prices might go next.
He says the main index, called the Nifty, will probably stay between 23,800 and 24,800 points.
If it rises above 24,800, prices could go much higher.
He also says the banking index is still in good shape and needs to pass 58,500 to move higher.
He picked three companies to buy: Delhivery, Kaynes Technology India and Maruti Suzuki India.
He tells buyers the target price to aim for and a stop loss price to get out if it falls too much.
His main advice is to buy when prices dip a little instead of chasing them when they are high.
Indian benchmarks ended the week lower, with the Sensex slipping 0.62% to 78,009.25 and the Nifty declining 0.83% to 24,366.
Ganesh Dongre of Anand Rathi recommends buying Delhivery, Kaynes Technology India and Maruti Suzuki India for Monday, 17 August 2026, each with a target price and stop loss.
Dongre expects the Nifty to stay within the 23,800–24,800 range, with a sustained close above 24,800 potentially triggering a rally towards the 25,000+ zone.
The Bank Nifty settled at 57,491, down nearly 0.44%, holding above its long-term EMA support near 56,300, with resistance at 58,000–58,500.
Elevated crude oil prices, renewed geopolitical concerns in the Middle East and mixed global signals kept investor sentiment cautious, with Brent crude movements flagged for monitoring.
Sectorally, Telecom, New-Age businesses and Capital Goods gained between 1% and 4%, while the MidCap index rose 0.50% and the SmallCap index fell 0.66%.
- Who
- Ganesh Dongre, Senior Manager of Technical Research at Anand Rathi, who issued the market outlook and stock recommendations.
- What
- A weekly review of Indian equity benchmarks and buy recommendations for three stocks: Delhivery, Kaynes Technology India and Maruti Suzuki India.
- Where
- Indian stock markets (BSE Sensex and NSE Nifty), with developments in the Middle East cited as a factor.
- When
- Recommendations are for trading on Monday, 17 August 2026, following a week in which the Indian market closed lower.
- Why
- Elevated crude oil prices, geopolitical concerns and mixed global signals weighed on sentiment, while Dongre sees a buy-on-dips opportunity within key support levels.
Key facts
- Sensex weekly close
- 78,009.25 (down 0.62%)
- Nifty 50 weekly close
- 24,366 (down 0.83%)
- Bank Nifty close
- 57,491 (down nearly 0.44%)
- Nifty expected range
- 23,800–24,800; breakout trigger above 24,800
- Delhivery
- Buy at ₹460, target ₹480, stop loss ₹450
- Kaynes Technology India
- Buy at ₹3,660, target ₹3,950, stop loss ₹3,580
- Maruti Suzuki India
- Buy at ₹13,830, target ₹14,300, stop loss ₹13,500
Quotes
Ganesh Dongre
Senior Manager of Technical Research at Anand Rathi
“The Indian equity benchmarks ended the week on a weak note, with the Nifty 50 closing at 24,366, registering a weekly decline of 0.83%, while the Bank Nifty settled at 57,491, down nearly 0.44%.”
livemint.com
“Hence, the buy‑on‑dips approach remains preferable, while traders should closely monitor 24,800 on the Nifty and 58,500 on the Bank Nifty.”
livemint.com
Sources
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