Ganesh Dongre of Anand Rathi Recommends These Three Stocks to Buy on Monday, March 3
Stock Market Weekly Review
Ganesh Dongre :The broader indices underperformed the major indices last week as concerns over high valuations and fears surrounding U.S. tariffs weighed on investor sentiment. Large-cap and mid-cap indices witnessed a decline of nearly 3-4%, while small-cap stocks bore the brunt with a steep fall of over 5%. Nifty ended the week with a 2.9% loss, while Bank Nifty was down by 1.3%.
Market Trends and Technical Outlook
The market movement aligned with expectations from the previous week’s analysis, as Nifty formed a lower-high closing pattern, a bearish signal that pushed the index down to 22,124, breaching the critical 22,400-22,500 support zone. The daily candlestick pattern continues to indicate lower lows, reinforcing persistent weakness.
Until Nifty decisively closes above the 23,200 mark on a weekly basis, caution is advised for traders considering fresh buying. Options data shows the current Put-Call Ratio (PCR) stands at 0.90. For the upcoming week, Nifty is likely to trade within the 21,700 to 23,000 range, with crucial support at 21,700 and resistance at 22,800-23,000.
Bank Nifty Performance
Bank Nifty dropped by 1.3% during the week, though it managed to hold its previous low at 47,700. After starting the week on a positive note, the index saw consistent selling pressure. Looking ahead, key support for Bank Nifty is positioned at 47,500, while resistance is set at 49,500.
Key Market Resistance and Support Levels
Both Nifty and Bank Nifty closed below their respective monthly resistance zones. Nifty’s crucial resistance level remains at 23,200, whereas Bank Nifty’s key resistance is at 49,500. If these indices fail to close above these resistance levels, the likelihood of further downside increases. Traders and investors should stay cautious and monitor these levels closely to make informed decisions.
Expert Stock Picks by Ganesh Dongre
Despite market volatility, stock market expert Ganesh Dongre of Anand Rathi has recommended three stocks for Monday, March 3, 2025, which he believes have strong growth potential. Here are his top stock picks:
1. Indian Energy Exchange (IEX)
- Buy Price: ₹152-156
- Stop Loss: ₹147
- Target Price: ₹165
Indian Energy Exchange (IEX) remains a dominant player in the energy trading market and is expected to gain from the increasing adoption of power exchanges in India. The company has a strong business model, and with the rising demand for energy trading, IEX is positioned for growth.
| Financial Metrics | Value |
|---|---|
| Market Cap | ₹13,500 Cr |
| P/E Ratio | 44.2 |
| ROE (Return on Equity) | 38% |
| Debt-to-Equity Ratio | 0.0 |
2. Bajaj Finance
- Buy Price: ₹8500-8600
- Stop Loss: ₹8250
- Target Price: ₹8800
Bajaj Finance is a leading non-banking financial company (NBFC) in India. With a strong presence in consumer lending, SME lending, and mortgage financing, Bajaj Finance continues to exhibit robust growth despite economic headwinds. The stock has been resilient in volatile market conditions, making it a solid pick for long-term investors.
| Financial Metrics | Value |
|---|---|
| Market Cap | ₹5,20,000 Cr |
| P/E Ratio | 27.5 |
| ROE (Return on Equity) | 21% |
| Debt-to-Equity Ratio | 3.1 |
3. Stock Awaiting Confirmation
Ganesh Dongre is likely to recommend a third stock, which will be updated once confirmed. Investors are advised to stay tuned for further recommendations.
Conclusion
The stock market is currently experiencing heightened volatility due to global economic concerns and high valuations. However, opportunities still exist for investors who carefully select stocks with strong fundamentals. Ganesh Dongre’s stock recommendations—Indian Energy Exchange (IEX) and Bajaj Finance—present solid investment opportunities backed by strong financial performance.
As we enter the new trading week, traders should closely monitor market trends, support/resistance levels, and risk management strategies. Given the ongoing uncertainty, adopting a disciplined approach to trading and investing is crucial.
Stay tuned for more stock market insights and updates. Happy Investing
For more market insights, follow our news.
Stay tuned for more updates and insights on the stock market! For more insights on investing in the Indian stock market, check out resource like ET, NSE India.
Disclaimer: This blog post is for informational purposes only and should not be considered financial advice. Investors should conduct thorough research and consult with a qualified financial advisor before making any investment decisions.