Ganesh Dongre’s Stock Picks: DLF, LIC Housing, and More — Should You Buy or Sell on Monday?

Last week, the Nifty and Bank Nifty indices were in an oversold condition, leading to a bounce and sideways movement. The Nifty index recovered from a key support level at 24,800 but struggled to break past the resistance at 25,300. It stayed within this range throughout the week, showing some weakness but ending on a positive note. Geopolitical tensions between Israel and Iran, along with stricter SEBI regulations, have made market sentiment cautious.

Weekly Market Overview

The week started with a rise as the Nifty tested the 25,300 resistance zone, but profit booking pushed it back to the 24,800-25,000 support zone, hitting a low of 24,600. If the index falls below 24,800, it might drop further toward 24,000 in the coming week. The key support is at 24,600, while resistance lies at 25,700. If Nifty closes above 25,700-25,800, it could move towards its previous high of 26,300.

Bank Nifty Performance

Bank Nifty closed the week at 52,000 with a 2% gain. After an initial rise on Monday, it faced selling pressure but recovered and closed above 52,000. If it stays above this level, it could rise to the 53,000-53,500 resistance zone. Support is at 50,000, and traders should be cautious if it closes below 52,000.

Both Nifty and Bank Nifty closed above their monthly support zones, showing a generally positive outlook. Investors should watch key support and resistance levels to make informed trading decisions.

Stocks to Buy on Monday

1. DLF
   Buy Price: ₹865-875
   Target: ₹915
   Stop Loss: ₹840
2. LIC Housing Finance
   Buy Price: ₹615-620
   Target: ₹650
   Stop Loss: ₹590
3. National Aluminium Company Ltd.
   Buy Price: ₹232
   Target: ₹255
   Stop Loss: ₹215