Top 3 stocks to buy: Bharti Airtel, ITC, PNB by Ganesh Dongre of Anand Rathi | Target price, stop-loss, Nifty outlook

As highlighted in our previous weekly outlook, the Nifty has entered oversold territory following the recent sharp correction. The decline has been driven by a combination of global risk-off sentiment and concerns surrounding the US Federal Reserve’s interest-rate outlook. The possibility of further interest-rate hikes by the Fed and the RBI in the coming quarters remains a key concern for equity markets. Additionally, the upward bias in US 10-year Treasury yields could continue to influence global risk appetite and foreign institutional investor (FII) flows into emerging markets, including India.

Ganesh Dongre, AVP — Equity Research at Anand Rathi, believes the Nifty 50 index faced strong resistance in the 24,500–24,600 zone last month, which also coincided with the broader 200-day EMA resistance area. Subsequently, the index witnessed a sharp decline towards the 22,500–22,000 zone, approaching the lows recorded in March 2026 and a significant support region based on the previous six-month price structure.

“A sustained weekly close above 23,200 would help improve the near-term technical outlook and could open the door for a recovery towards 24,000–24,200, where the 200-day EMA and broader resistance levels are positioned. On the downside, 22,000–21,700 remains a crucial support zone, as it represents a significant historical support area near previous yearly and quarterly lows,” Ganesh Dongre of Anand Ratahi said.

For the upcoming week, Ganesh Dongre of Anand Rathi said, traders should closely monitor the 22,800 and 23,200 levels for signs of improving momentum, while 21,700–22,000 remains an important downside support zone.

Speaking on the outlook for the Bank Nifty today, Ganesh Dongre said the key benchmark index witnessed significant selling pressure during the recent correction and continues to trade below its 200-day EMA, positioned around 56,300. The index is currently trading below this crucial technical level, with the next major support placed near 51,500-53,000. On the upside, the 56,000–56,500 zone remains an important resistance area. A decisive, sustained breakout above 56,500 would strengthen the near-term technical structure and could signal a recovery towards higher levels.

“Overall, both the Nifty and Bank Nifty remain in a cautious technical phase despite the recent weekly recovery. Although oversold conditions could trigger intermittent relief rallies or technical rebounds, the broader market structure remains under pressure,” Ganesh Dongre said.

Regarding stocks to buy on Monday, Ganesh Dongre of Anand Rathi recommended buying these three shares: Bharti Airtel, ITC, and PNB.

1] Bharti Airtel: Buy at ₹1800 to ₹1810 | Target ₹1860 | Stop Loss ₹1760;

2] ITC: Buy at ₹260 to ₹265 | Target ₹285 | Stop Loss ₹245; and

3] PNB: Buy at ₹114 to ₹116 | Target ₹124 | Stop Loss ₹107.

Asit Manohar has nearly two decades of experience in the mainstream media. In this period, he has served esteemed media organisations like NDTV Profit, The Economic Times, and Zee Business. He has been working at LiveMint Digital since April 2021. During these two decades of journey in mainstream media, Asit has mainly covered external affairs, markets and personal finance. However, his earliest beats include railways, SME, MSME, and politics (Congress beat). Some of his features on political, economic, and foreign policy are documented in the parliamentary records. <br><br> While pursuing his MA (Mass Communication, Session 2004-06), Asit began his media career as a stringer at All India Radio in Varanasi. At AIR Varanasi, Asit worked with the Gyanvani, Yuvvani and Vividh Bharti teams. After working for nearly one year at AIR Varanasi, he shifted to print journalism and started working as a stringer for the HT Media Ltd, Varanasi. At HT Media Ltd in Varanasi, he covered the BHU beat. <br><br> Asit has also worked with some brokerage houses. He has worked with Religare Broking and India Infoline, where he assisted the research team in developing and executing trade strategies for intraday cash, F&O, and commodities. <br><br> Asit is a Gold Medalist in MA (Mass Communication) from BHU, Varanasi. He did his BSc. (Hons) in Mathematics from Magadh University, Bodh Gaya. Asit was a National Talent Scholarship holder during his senior secondary studies (1988-91).

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HomeMarketsStock MarketsTop 3 stocks to buy: Bharti Airtel, ITC, PNB by Ganesh Dongre of Anand Rathi | Target price, stop-loss, Nifty outlook

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