Buy or sell: Ganesh Dongre of Anand Rathi recommends 3 stocks to buy on Monday - 13 July 2026

Indian stock market: Backed by strong buying in financial stocks and IT heavyweight TCS, domestic equity benchmarks rebounded sharply on Friday, July 10, recovering a significant portion of their recent losses. Investor sentiment also improved as crude oil prices eased and the Indian rupee strengthened.

The Sensex and Nifty 50 both advanced more than 1% during the session. However, despite Friday's rally, both benchmark indices ended the week with slight losses.

“The Indian equity markets traded in a range-bound manner for yet another week, with the Nifty 50 closing at 24,206, registering a marginal weekly decline of 0.25%, while the Bank Nifty remained largely unchanged, ending the week at 57,938. Despite the subdued movement in the benchmark indices, broader market participation remained healthy. Sectoral performance was led by New Age businesses, Realty, and Information Technology, which outperformed the broader market and delivered gains of nearly 3%–5%, reflecting continued selective buying interest and improving investor sentiment,” said Ganesh Dongre, Senior Manager of Technical Research at Anand Rathi.

Dongre believes that the Nifty continues to maintain a positive undertone despite consolidating within the 23,800–24,500 range over the past week. The index's ability to consistently hold above the crucial 23,800 support level indicates strengthening bullish sentiment and suggests that the broader uptrend remains intact.

“Immediate support is placed in the 23,800–23,900 zone, while the 24,500–24,600 region, which coincides with the 200-day Exponential Moving Average (EMA), continues to act as a significant resistance zone. On the weekly chart, the index is forming a series of higher lows, highlighting sustained buying interest on declines. Going forward, a decisive breakout and sustained close above 24,600 will be a key technical trigger that could accelerate the next leg of the rally. Until such a breakout is confirmed, a buy-on-dips strategy remains the preferred approach. A sustained move above 24,300 would further reinforce the bullish outlook and may open the path towards 24,600, followed by the important psychological level of 25,000. On the downside, the 23,500–23,600 zone is expected to act as a strong demand area, providing support against any near-term corrective decline,” he said.

On the Bank Nifty outlook, Dongre said that the index continues to display a constructive technical setup after successfully sustaining above its 200-day EMA, reinforcing the positive medium-term outlook.

“However, the index needs a decisive and sustained breakout above the 58,000–58,500 resistance zone to trigger fresh buying momentum and pave the way for a move towards the 60,000 mark. Until then, the index is likely to remain in a consolidation phase before resuming its upward trajectory. Immediate support is placed near the 56,000 level, which is closely aligned with the 200-day EMA and is expected to provide a strong cushion during any near-term correction. Overall, the technical structure of the Bank Nifty remains constructive, and as long as it holds above its key support levels, the broader trend is expected to remain positive with a gradual upward bias,” he added.

Bank of Baroda: Buy at ₹250-252, target price of ₹265, stop loss of ₹243.

Union Bank of India: Buy at ₹162-165, target price of ₹175, stop loss of ₹155.

Varun Beverages: Buy at ₹478-475, target price of ₹510, stop loss of ₹465.

Disclaimer: This story is for educational purposes only. The views and recommendations above are those of individual analysts or broking companies, not Mint. We advise investors to check with certified experts before making any investment decisions.

Vaamanaa covers business and stock market news. Started in 2020, she has been producing news on digital platforms for over 4.5 years now. She writes on markets, commodities, IPOs, and industry. She has worked for news channels like Jagran New Media and Business Insider Indi...