Stocks to buy or sell: The Indian stock market saw strong buying interest in Friday’s session (June 12), driven by optimism that the US and Iran may be nearing a peace agreement, potentially bringing an end to the three-month-long conflict that has weighed on global markets and pushed crude oil prices to multi-week lows.
Broad-based buying across sectors lifted the 50 by 2%, its sharpest single-day advance of 2026, while also helping the benchmark post a weekly gain of 1.14%. The Sensex mirrored the upbeat sentiment, rising 2.3% to close at 75,516 and ending the week with a 1.50% increase.
“The Indian equity markets witnessed a range-bound yet constructive week, with benchmark indices ending on a positive note. The NIFTY 50 closed at 23,662, registering a weekly gain of 1.10%, while the NIFTY Bank outperformed significantly, ending at 56,814 with a robust gain of 4.25%. Sectorally, banking, textiles, and pharmaceuticals emerged as key outperformers, advancing between 1% and 2% during the week, indicating improved market breadth and broader sectoral participation. Towards the latter part of the week, most sectors witnessed notable short-covering activity following encouraging geopolitical developments, particularly easing tensions between the United States and Iran, which helped strengthen investor sentiment,” said Ganesh Dongre, Senior Manager of Technical Research at Anand Rathi.
Ganesh Dongre’s market outlook for next week
Dongre believes that participants remained focused on geopolitical developments and ongoing ceasefire discussions between the United States and Iran on the global front.
“Expectations of a diplomatic resolution provided support to global risk assets and enhanced overall market confidence. Investors continue to monitor these developments closely, as a constructive outcome could further stabilize equity markets, whereas any escalation in geopolitical tensions may trigger renewed volatility across global financial markets,” he said.
Nifty 50
On the technical outlook, the NIFTY continued to consolidate within the broad trading range of 23,100–23,700 throughout the week. However, the index managed to close above the crucial 23,600 mark, indicating strengthening bullish momentum and suggesting the possibility of further upside in the coming sessions.
“Immediate support is now placed in the 23,000–23,300 zone, while the 24,000–24,300 band remains a significant resistance cluster. Despite intermittent volatility, the broader weekly chart structure remains constructive, characterized by a sequence of higher lows, reflecting sustained accumulation at lower levels. A decisive breakout and sustained close above 23,800 would confirm trend continuation, potentially paving the way for a move towards the 24,500 level and reinforcing the medium-term bullish outlook. On the downside, the 23,000–23,300 region is expected to act as a strong demand zone and provide a cushion against any corrective pullbacks,” he added.
Bank Nifty
On the Bank Nifty outlook, he said that the index has displayed notable technical strength after delivering a fresh trendline breakout on the weekly chart. The index has successfully reclaimed key moving averages and is now approaching a critical resistance zone between 56,500 and 57,000, which coincides with a major supply area and the vicinity of its long-term trend indicators.
“A sustained move above 56,500 would strengthen the bullish setup and could trigger fresh momentum-driven buying, potentially extending the ongoing rally. Immediate support for the banking index is placed near the 54,000 zone, which is expected to serve as a strong base during any near-term consolidation. A decisive breakout above the 57,000 mark would further validate the positive structure and provide additional support to the broader market trend,” he said.
Ganesh Dongre’s market trading strategy
He further noted that the market sentiment has turned cautiously optimistic, supported by improving technical structures, strengthening participation from heavyweight sectors, and favorable global cues.
Dongre recommended investors to continue to favor a “buy-on-dips” approach as long as key support levels remain intact. Nevertheless, the near-term trajectory remains highly sensitive to geopolitical developments and global macroeconomic signals.
“The coming week is expected to be crucial, as progress on the final diplomatic agreements and geopolitical negotiations could act as a catalyst for the next directional move in the market. Traders and investors are advised to remain selective in stock selection, maintain disciplined risk management practices, and closely monitor institutional flows and global developments, as any significant escalation or resolution on the geopolitical front could materially influence overall market direction and volatility,” Dongre said.
Weekly stocks to buy or sell
Hindustan Unilever: Buy at ₹2160- 2170, target price of ₹2230, stop loss of ₹2120.
Eternal: Buy at ₹240-245, target price of ₹260, stop loss of ₹230.
Polycab India: Buy at ₹9500-9550, target price of ₹9900, stop loss of ₹9300.
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.