Buy or sell: Ganesh Dongre of Anand Rathi recommends three stocks to buy on Monday - 8 June 2026 | Stock Market News

Stocks to buy or sell: Indian equity benchmarks, the Sensex and Nifty 50, ended modestly lower on Friday, 5 June, as investors turned cautious after the Reserve Bank of India lowered its growth forecast for FY27 while raising its inflation outlook.

The Sensex slipped 116.67 points, or 0.16%, to close at 74,243.34, while the Nifty 50 declined 49.85 points, or 0.21%, to settle at 23,366.70. The Sensex witnessed heightened volatility during the session, moving in a range of more than 700 points between its intraday high of 74,717.57 and low of 73,988.75.

Ganesh Dongre, Senior Manager of Technical Research at Anand Rathi, said the Nifty 50 ended the week on a weak note, closing at 23,366 and registering a decline of 0.77%, while the Bank Nifty remained largely flat, ending at 54,496 with a marginal gain of 0.04%.

According to Dongre, most major sectoral indices declined during the week, by 1% to 3%, reflecting broad-based profit booking and cautious investor sentiment.

On the global front, he noted that market sentiment remains heavily influenced by geopolitical developments, particularly the ongoing negotiations between the United States and Iran. Dongre said a constructive outcome from the talks could help improve risk appetite and stabilise equity markets, while any escalation in tensions could reignite volatility across global financial assets and weigh on investor confidence.

On the technical front, Dongre added that the Nifty 50 witnessed repeated profit-taking at higher levels, which restricted upside momentum and caused the index to close below its weekly highs. The benchmark also failed to sustain above the crucial resistance zone of 23,800 during the week.

According to Dongr, the immediate support is now placed in the 23,000–23,300 range, while the 23,800-24,000 band continues to act as a significant resistance area. Near-term volatility is expected to remain high, with India VIX rising toward 16by the end of the week. Despite this, the broader weekly structure remains constructive, supported by a pattern of lower lows underlying buying interest. A sustained move above 23,800 would be crucial for confirming trend continuation and could pave the way toward 24,300, thereby strengthening bullish momentum. On the downside, the 23,000–23,300 zone is expected to serve as a strong demand area during any corrective phase.

Similarly, Bank Nifty ended the week near 54,000, with modest gains, and is gradually approaching a crucial resistance zone between 56,500 and 57,000, which also closely coincides with its 200-day exponential moving average (EMA). Immediate support for the banking index is seen around 54,000. A decisive breakout and sustained move above the resistance zone could further reinforce bullish momentum in the banking space and provide additional support to the broader market trend.

Overall, market sentiment has turned cautiously optimistic, with investors increasingly favouring a buy-on-dips strategy amid improving technical structures. However, the near-term outlook remains highly sensitive to global geopolitical developments, particularly updates related to the ongoing US-Iran discussions. The coming week is expected to be crucial as traders and investors closely monitor global cues, institutional activity, and macroeconomic developments. Market participants are advised to remain selective in stock picking, maintain disciplined risk management practices, and stay alert to news-driven volatility, as any escalation or resolution on the geopolitical front could significantly influence overall market direction.

Buy SBI Life Insurance Company at ₹1,780-1,790; SL at ₹1,745; TGT at ₹1,845

Buy Bharat Electronics Ltd (BEL) at ₹405-410; SL at ₹395; TGT at ₹425

Buy Bajaj Finance at ₹880-890; SL at ₹860; TGT at ₹930

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.

Dhanya Nagasundaram works as a Content Producer at LiveMint, specializing in news related to financial markets, stocks, and business. With over eight years of experience in journalism and content creation, she has honed her skills in data-driven reporting and market analysis. Her focus is on monitoring stock trends, initial public offerings (IPOs), corporate news, policy shifts, and larger economic trends that affect investors and market players. <br><br> At LiveMint, Dhanya consistently writes and produces articles that make complex financial topics accessible to readers. She keeps a close eye on equity markets, commodities, and macroeconomic indicators, assisting audiences in comprehending how global and domestic events influence investment perspectives. Her stories frequently underscore emerging trends within sectors, the IPO market, company earnings results, and market strategies pertinent to both retail and institutional investors. <br><br> Before her tenure at LiveMint, Dhanya accumulated a wealth of professional experience at various companies, including MintGenie, Informist, Cogenics, Chary Publications, KPMG, and the Royal Bank of Scotland. These positions allowed her to establish a solid foundation in financial research, reporting, and content creation. <br><br> Throughout her career, she has explored numerous subjects such as trading strategies, commodities, IPOs, wealth generation, corporate profits, and macroeconomic indicators. Her background in both financial journalism and corporate settings has given her the ability to tackle stories with analytical rigor while ensuring clarity for her audience. Through her contributions, Dhanya strives to deliver insightful, trustworthy, and investor-centric financial content.

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