Stocks to buy | Shares to buy | Ganesh Dongre's stock recommendations: The key benchmark indices of the Indian stock market ended the week on a strong positive note, with the Nifty gaining nearly 0.45% to close at 25,144, while the Bank Nifty witnessed a sharp rally of 3.30%, settling at 61,034. Meanwhile, Brent crude oil prices declined towards $95 per barrel, providing significant relief to global markets. Sectoral performance remained broadly positive, with most major sectors gaining between 1% and 5%. Banking and chemicals emerged as the top-performing sectors, rallying nearly 4% during the week.
Over the previous two weeks, the Nifty had witnessed a sharp recovery of more than 10%, supported by strong buying interest at lower levels. The index rebounded from the 22,200–22,500 support zone, recovered towards its 200-day moving average and subsequently moved above the crucial psychological mark of 25,000. The recovery gained further momentum as the Nifty surpassed its previous monthly high of 24,700 and approached its February 2026 high, indicating a significant improvement in market sentiment.
Ganesh Dongre, AVP — Equity Research at Anand Rathi believes the Indian stock market bias is positive untill the Nifty 50 index is above the psychological 25,000 levels. Ganesh Dongre of Anand Rathi said that 25,500–25,600 zone for the 50-stock index will be the next significant resistance area to watch.
Ganesh Dongre of Anand Rathi said the Nifty 50 index appears to be discounting the possibility of a gradual slowdown in geopolitical tensions following the US midterm election results, particularly after President Trump's party suffered electoral setbacks. Any potential de-escalation in the ongoing conflict could further ease crude oil prices, potentially pushing Brent crude towards its previous monthly lows. Such a development could provide additional support to global equity markets and sustain the ongoing recovery in equities. Nevertheless, India VIX continues to trade around the 16 mark, indicating that volatility remains relatively elevated. Global uncertainties, particularly developments in the Middle East and US–Iran relations, will continue to influence market sentiment.
Speaking on the outlook for the Nifty50 index, Ganesh Dongre of Anand Rathi said, the key benchmark index has staged a remarkable recovery from the 22,200–22,500 support zone and has comfortably moved above its earlier resistance levels of 23,200 and 24,700, closing above the important psychological mark of 25,000. Going ahead, the 25,500–25,600 zone will be the next significant resistance area to watch, coinciding with the 78.6% Fibonacci retracement level of the entire decline from the previous year's high of 26,400. A sustained breakout above this zone could further strengthen the bullish outlook and potentially open the door for a move towards fresh highs.