Indian benchmark indices ended with modest gains on Thursday, June 25, after surrendering most of their intraday advances amid profit booking at higher levels. According to reports from Mint, the Sensex rose 109.25 points, or 0.14%, to close at 77,100.47, while the Nifty 50 added 34.35 points, or 0.14%, to settle at 24,056.00. Trading remained shut on Friday as the domestic equity market was closed for the Muharram holiday.
Ganesh Dongre, Senior Manager of Technical Research at Anand Rathi, provided comprehensive analysis of the market's performance during the week. As reported by Mint, Dongre noted that the Nifty 50 closed at 24,056, registering a modest weekly gain of 0.18% and managed to sustain decisively above the previous week's low of 23,800. The index's ability to hold above the crucial 23,800 support level reflects strengthening bullish sentiment, with immediate support placed in the 23,800–23,900 zone and resistance at 24,200–24,300 range.
The Bank Nifty demonstrated notable technical strength after delivering a fresh trendline breakout on the weekly chart, according to Dongre's analysis reported by Mint. The index has successfully sustained above its key 200-day EMA, reinforcing the positive undertone. A sustained move above the 58,000 level would further strengthen the bullish structure and could trigger fresh momentum-driven buying, potentially extending the ongoing rally. Immediate support is placed near the 56,000 zone, which is closely aligned with the 200-day EMA.
Dongre recommended three specific stocks for Monday trading based on technical analysis. As reported by Mint, Varun Beverages is recommended as a buy at ₹508 with a target price of ₹550 and stop loss of ₹490. NTPC is suggested as a buy at ₹352 with a target price of ₹370 and stop loss of ₹340. Coal India is recommended as a buy at ₹435 with a target price of ₹455 and stop loss of ₹425. These recommendations are part of Dongre's weekly stock picks for Monday trading sessions.
