The Indian equity markets ended the week on a high note, with benchmark indices Sensex and Nifty 50 registering strong gains on Friday, breaking their three-session losing streak. The rally was driven by broad-based buying across sectors, signaling renewed optimism among investors.
The BSE Sensex surged 1,046.30 points or 1.29%, closing at 82,408.17, while the NSE Nifty 50 rose 319.15 points or 1.29%, to end at 25,112.40. The Bank Nifty also joined the rally, climbing 675.40 points or 1.22% to close at 56,252.85.
On a weekly basis, the Sensex and Nifty 50 posted gains of 1.59% each, while the Bank Nifty advanced 1.31%, supported by bullish momentum across sectors.
Market Outlook
The sharp uptick on Friday helped the Nifty 50 decisively reclaim the 25,000 level, forming a robust bullish candle on the daily chart. Analysts believe that this momentum may extend into the coming sessions.
“The market sentiment has significantly improved following Friday’s rally. Nifty has established a strong base around 24,800 and is now well-positioned to aim for levels around 25,400 to 25,650 in the short term,” said Sumeet Bagadia, Executive Director at Choice Broking. He advised traders to adopt a stock-specific strategy, focusing on technically strong counters.
Stocks to Watch on Monday, June 23, 2025
Bagadia has recommended three stocks that show promising technical setups and potential for further upside:
1. HDFC Life Insurance Company
- Buy | Target Price: ₹845 | Stop Loss: ₹747
HDFC Life shares have been in a steady uptrend, forming higher highs and higher lows — a classic sign of strength. The stock recently broke out of a Rounding Bottom pattern and successfully retested the breakout zone, followed by a bullish candle supported by strong volumes.
Technical indicators such as the RSI (currently at 60.83) are trending upward, suggesting increasing momentum. With prices trading above key moving averages across timeframes, the stock is technically well-positioned for continued gains. A breakout above ₹800 may trigger further upside towards ₹845.
2. Reliance Industries
- Buy | Target Price: ₹1,585 | Stop Loss: ₹1,410
Reliance Industries is currently consolidating after a strong rally, building a base at higher levels. A bullish candle on the daily chart, along with healthy volumes, indicates that the stock may be preparing for a fresh breakout. A move above ₹1,475 could serve as a trigger for upward momentum, potentially taking the stock to ₹1,585.
3. Bharat Electronics Ltd (BEL)
- Buy | Target Price: ₹445 | Stop Loss: ₹390
BEL shares are trading near record highs, maintaining a pattern of higher highs and higher lows. After a brief consolidation, the stock has shown renewed strength with a breakout backed by volume. Holding above the ₹410 level could pave the way for a move towards ₹445, according to technical indicators.
Final Take
With market sentiment turning positive and technical indicators aligning favorably, the broader outlook for Indian equities appears encouraging. As the Nifty eyes higher resistance levels in the coming sessions, a stock-specific strategy with disciplined stop-losses may yield favorable returns for traders and investors.
