Buy or sell: After recording sharp losses of more than 1% each in the previous session, the benchmark indices — the Sensex and the Nifty 50 — staged a strong recovery on Friday, February 20, posting solid gains. The 30-share Sensex rose 317 points, or 0.38%, to close at 82,814.71, while the Nifty 50 advanced 117 points, or 0.46%, to settle at 25,571.25.

According to Ganesh Dongre, Senior Manager of Technical Research at Anand Rathi, the benchmark indices ended the week on a positive note, gaining around 0.25%, although sectoral performance remained selective.

“Banking, Infrastructure, Capital Goods, and Oil & Gas sectors outperformed, delivering gains of approximately 1–3%, while several other sectors witnessed profit booking amid rising geopolitical tensions surrounding the Iran–US situation. Global developments added another layer of complexity after the Supreme Court of the United States struck down former President Donald Trump’s reciprocal tariffs, declaring them illegal. This ruling effectively means that nearly 55% of India’s exports to the US may avoid the previously proposed 18% reciprocal tariffs. However, shortly after the decision, Donald Trump approved a 10% global tariff applicable to all countries. As a result, India’s effective tariff exposure may stabilize below 18%, though some uncertainty could persist as the India–US trade deal is expected to be finalized in the coming week,” Dongre said.

Ganesh Dongre’s market outlook for next week

Nifty 50

From a technical and derivatives perspective, Nifty 50 has once again approached the 24,000–24,300 support zone and stabilized near its previous swing lows, which are acting as key support levels, according to Dongre.

“On the monthly chart, the index continues to hold its long-term trendline support around the 25,000–25,300 zone, reinforcing a constructive medium-term structure. Derivatives data indicates significant Call open interest at 25,800 and 26,000, forming a resistance band, while substantial Put open interest at 25,000 and 25,500 suggests a strong support base. A sustained move above the 25,600–25,800 zone could pave the way for an upside toward 26,000–26,300 in the coming weeks,” Dongre said.

Bank Nifty

On the Bank Nifty outlook, he added that the index faces immediate support near 60,500, where the highest Put open interest is positioned, while 62,000 acts as immediate resistance.

“Holding above 58,000 remains crucial to maintaining overall strength. Overall, the broader outlook remains positive with a range-bound yet constructive bias, favoring a buy-on-dips strategy, selective stock accumulation, and close monitoring of global trade developments and geopolitical cues,” Dongre added.

Weekly stocks to buy or sell

Reliance Industries: Buy at ₹1400-1420, target price of ₹1500, stop loss of ₹1360.

Coal India: Buy at ₹420-425, target price of ₹445, stop loss of ₹405.

Prestige Estates Projects Limited: Buy at ₹1480-1490, target price of ₹1560, stop loss of ₹1450.

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.