Buy or Sell: Ganesh Dongre of Anand Rathi recommends three shares to Monday - May 19 | Einsmark news

Buy or Sell: The Nifty Index expanded its bullish momentum throughout the week, supported by power in the broader markets and favorable global clues. This continued turnout kept the market sentiment positive in the coming week. An important driver behind this bullishness is the recent US -China agreement to lower rates, which has alleviated the recession and significantly improved investor confidence. In addition, the global stock markets have seen a strong rally, powered by signs of cool inflation and reduced geopolitical tension. These macro economic developments, combined with solid domestic participation, strengthened the upward bias of the market and positioned the Nifty in the short term. Weekly Market Review The Indian Equity Markets was a strong return during the week, with the Nifty achieving almost 4%. The index has a robust stock-specific positive action, supported by persistent buying in sectors. After a lifting of Monday, the Nifty retained its position above the 24,600-24,700 series throughout the week and finally closed near the 25,100 points. This upward movement confirms that the previous resistance – corresponding to the 61.8% Fibonacci encumbers of the recent decline – has now turned into an important support level. If we look forward, the next resistance is expected about 25,500–25,600 zone, which corresponds to the 78.6% performance level. A definite weekly close above 25,200 can cause fresh buying momentum, which can drive the index to 25,600. However, a weekly close below 24,500 may indicate a short-term breathing, especially in light of the prevailing global uncertainties. Bank Nifty Outlook The bank Nifty underperformed slightly compared to the Nifty, with a profit of 3.3% for the week. Immediate support for the index is identified in the 53,000-53 500 zone. This is likely to build stock-specific long positions, with a possible rise in the direction of the 56,000 point, above the 53,000 level at a weekly closing base. For the coming week, Bank Nifty is expected to trade within a broader range of 53,000 to 57,000. Conclusion Both Nifty and Bank Nifty closed above their respective monthly support levels – 23,800 for Nifty and 53,000 for Bank Nifty – which signs ongoing clumsy sentiment. The long -term support at 21,700 for Nifty and about 50,500 for Bank Nifty remains critical standards to start fresh long positions. Resistance levels to look at are 25,600 for Nifty and 57,000 for Bank Nifty. In the current environment, traders are advised to stay careful, which are closely watching these technical levels, while attentive to geopolitical developments that can affect the market direction. Weekly shares to buy or sell bajaj finances at £ 9150-9180; Stop loss at £ 8900; Target price of £ 9400. Buy Multi-Commodity Exchange of India at £ 6445-6455; Stop loss at £ 6340; Target price of £ 6770. Buy National Aluminum Co at £ 178-181; Stop loss at £ 168; Target price of £ 195. Disclaimer: The views and recommendations above are those of individual analysts, experts and brokerage companies, not of currency. We advise investors to check with certified experts before making any investment decision.