Buy or sell stocks: The Indian stock market witnessed a sharp rally on Friday, tracking positive global cues amid growing hopes of a potential peace agreement between the US and Iran, which could help ease tensions in West Asia. Broad-based buying across sectors lifted benchmark indices, with both the Sensex and Nifty 50 gaining more than 1%.
The surged 1,557.88 points, or 2.11%, to 75,390.43, while the advanced 416.95 points, or 1.80%, to 23,578.55. The banking pack outperformed the broader market, with the Bank Nifty climbing 1,579 points, or 2.86%, to 56,755.75.
Global equity markets also traded higher as geopolitical concerns eased, improving investor sentiment and reducing fears of further disruption to energy supplies. The optimism followed reports that US President Donald Trump had called off plans for military strikes against Iran.
Trump stated that the US and Iran could potentially reach a peace agreement as early as this weekend, a development that could lead to the reopening of the Strait of Hormuz, a critical global shipping route. However, Iran reportedly said that it had not yet taken a final decision regarding any agreement.
The prospect of easing tensions triggered a decline in crude oil prices, which had rallied sharply in recent weeks amid concerns over supply disruptions. Brent crude futures fell 2% to USD 88.55 per barrel, while US West Texas Intermediate (WTI) crude declined 1.8% to USD 86.11 per barrel, extending losses from the previous session after Trump cancelled the planned strikes against Iran.
Stocks to buy
Sumeet Bagadia, Executive Director at Choice Broking, has recommended three stocks to buy on Monday, 15 June – L&T, Bajaj Finance, and IndiGo.
Buy L&T in Cash at ₹4,050; Stop Loss ₹3,850; Target ₹4,350
Larsen & Toubro has been trading in a broad consolidation phase over the past few weeks, but the stock consistently found support near its 200-day EMA around the ₹3,850 zone, highlighting strong long-term buying interest. In the latest session, LT witnessed a strong gap-up opening and immediately reclaimed its key moving averages, including the 20-day, 50-day, and 100-day EMAs. The stock surged nearly 4.9% during the session and closed near the day’s high, reflecting strong bullish momentum and aggressive accumulation by market participants.
Technically, a positive RSI crossover has emerged, indicating improving strength and momentum. More importantly, LT has now closed above all its key moving averages, strengthening the probability of a trend continuation. As long as the stock sustains above the ₹3,850 support zone, the bullish setup remains intact. A sustained move higher could drive the stock towards the ₹4,350 target, while ₹3,850 should be maintained as a strict stop-loss level.
Bajaj Finance
Buy in Cash ₹918; Stop Loss ₹868; Target ₹992
Bajaj Finance has shown a strong recovery after completing a healthy corrective phase. Just last week, the stock was trading near the ₹860 zone, where it successfully filled its previous unfilled gap and attracted fresh buying interest. In the current trading session, the stock gained nearly 5.5% and closed at the day’s highest level, signalling strong bullish sentiment. Technically, Bajaj Finance has decisively crossed above its 20-day and 50-day EMAs, indicating a revival in short-term momentum.
Although the stock is still trading slightly below its 100-day and 200-day EMAs, the sharp rebound suggests that these resistance levels may soon be challenged. Another encouraging sign is the breakout from a short-term falling trendline, which often marks the beginning of a fresh uptrend. Momentum indicators are also turning positive, supporting the bullish view. As long as the stock holds above ₹868, the structure remains constructive. A sustained follow-through move could lead the stock towards the ₹992 target in the coming sessions
IndiGo
Buy in Cash at ₹4,709; Stop Loss ₹4,470; Target ₹5,050
INDIGO has staged a strong breakout after spending several weeks consolidating in the ₹4,350– ₹4,600 range, which coincided with its 100-day EMA support zone. The stock witnessed a bullish gap-up opening of nearly 100 points and opened right around the 100-day EMA, indicating aggressive institutional participation. Strong buying interest persisted throughout the session, allowing the stock to close near the day’s high, a sign of sustained strength and positive sentiment.
From a technical perspective, INDIGO has now moved decisively above its 20-day, 50-day, and 100-day EMAs, reflecting a clear shift in trend momentum. The RSI has also delivered a bullish crossover and is moving higher, confirming improving strength. Additionally, the stock has broken out of its consolidation range, further validating the bullish setup. As long as INDIGO sustains above ₹4,470, the uptrend remains intact and could drive the stock towards the ₹5,050 target in the near term. Volume participation and follow-through buying will be key factors.
Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint. We advise investors to check with certified experts before making any investment decisions.