Top 3 Stocks to Buy This Monday: Expert Picks from Ganesh Dongre of Anand Rathi | Stock Market Insights for June 16, 2025

This week, Indian equity markets faced a bit of turbulence, mainly due to rising tensions between Iran and Israel. The Nifty index, after hovering between 24,500 and 25,200, dipped by 368 points, closing at 24,718.

Despite this dip, the Nifty demonstrated some strength by staying above the 24,500 support level. However, market volatility increased, with the India VIX rising by 8%, ending the week at 15.08. This suggests that traders are on edge, likely due to external factors affecting market sentiment.

Analysts continue to monitor the 25,200 to 25,300 range as a key resistance level. This range aligns with a technical analysis method known as Fibonacci retracement, marking a significant point for potential market direction.

As long as the Nifty holds above the 24,000 to 24,500 range, it maintains an overall positive outlook. A drop below 24,000 could indicate a short-term downturn, while consistent closes above this range could pave the way for a move towards 25,600.

Turning to Bank Nifty, the index also faced challenges, falling about 2% for the week and closing around its support level of 55,500. Key support now rests at 55,000–54,800. If it can hold above 55,000, a rebound back to 57,000 is possible; however, caution is advised unless a strong breakout occurs.

Both Nifty and Bank Nifty are above their monthly support levels (Nifty at 23,600 and Bank Nifty at 54,000), but immediate resistance at 25,200–25,300 for Nifty and 57,000 for Bank Nifty will be crucial for short-term trends.

Market Insights

Recent findings from financial surveys show that many investors are cautious due to ongoing international issues. In 2022, a similar situation occurred when global tensions caused significant market fluctuations, highlighting how quickly investor sentiment can shift.

As for individual stocks, analysts recommend monitoring:

1. Bharat Electronics Ltd (BEL): Buy between ₹390-395; target ₹420.
2. CESC Ltd (CESC): Buy between ₹163-164; target ₹180.
3. Indian Bank Ltd (INDIANB): Buy between ₹620-625; target ₹650.

In summary, while the short-term outlook remains uncertain, key support levels provide a safety net for traders. Keeping an eye on global events will be essential as they continue to impact market sentiment. For more insights on the Indian equity market, check SEBI’s reports.

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