The Indian stock market benchmark indices, Sensex and Nifty 50, ended with strong gains on Friday, breaking their three-day losing streak, led by optimistic sentiment on Dalal Street, as bulls initiated broad-based accumulation across sectors.

The Sensex jumped 1,046.30 points, or 1.29%, to close at 82,408.17, while the Nifty 50 settled 319.15 points, or 1.29%, higher at 25,112.40. The Bank Nifty index rallied 675.40 points, or 1.22%, to end at 56,252.85.

For the week, Sensex and Nifty 50 registered a gain of 1.59% each, while the Bank Nifty index rallied 1.31%.

Stock market next week

Nifty 50 closed above 25,100 level and formed a robust bullish candle on the daily chart.

“The Indian stock market sentiment has improved after the sharp rally on Friday. The Nifty 50 index is above 25,000 and the key benchmark index is set to touch 25,400 and 25,650 in the short term. The index has made a crucial base at 24,800. So, one should maintain a stock-specific approach and look at those stocks that are looking strong on the technical chart,” said Sumeet Bagadia, Executive Director at Choice Broking.

Stocks to buy

Sumeet Bagadia has recommended three stocks to buy on Monday, 23 June 2025. The three stock picks by Bagadia are HDFC Life Insurance Company, Reliance Industries and Bharat Electronics (BEL) shares.

Here are the three stocks to buy on Monday:

HDFC Life | Buy | Target Price: ₹845 | Stop Loss: ₹747

HDFC Life Insurance Company shares remain in a long-term uptrend, forming a consistent pattern of higher highs and higher lows on the daily timeframe — clearly indicating strength in the prevailing bullish momentum. The recent price action shows a strong breakout from a Rounding Bottom pattern, a classic bullish continuation setup, followed by a healthy retest of the breakout zone, which adds further credibility to the uptrend.

Post the retest, HDFC Life shares formed a strong bullish candle, supported by consistent trading volumes — signaling renewed buying interest and reinforcing the likelihood of continued upside. This price behavior suggests that the stock may be gearing up for its next leg higher.

The Relative Strength Index (RSI) stands at 60.83, trending upwards with a recent positive crossover, reflecting improving momentum and increasing bullish strength. Technically, HDFC Life shares are comfortably trading above all its key moving averages — short-term, medium-term, and long-term EMAs — which further validates the bullish alignment across timeframes.

A sustained move above the ₹800 mark could act as a breakout trigger for further upside, potentially propelling the stock towards higher targets of ₹845 in the near term. The current technical structure, volume behavior, and momentum indicators are well aligned to support a continuation of the ongoing uptrend.

Given the strong technical setup and improving momentum, traders may consider buying HDFC Life shares at the current market price, with a stop-loss placed at ₹747 to manage downside risk. A successful breakout above ₹800 could open the path for a move toward ₹845, offering a favorable risk-reward opportunity for positional traders, Bagadia said.

Reliance Industries | Buy | Target Price: ₹1,585 | Stop Loss: ₹1,410

Reliance Industries share price continues to maintain its uptrend after a strong rally from the lower levels. Following the recent upward momentum, Reliance stock has entered into a consolidation phase, indicating healthy profit booking and base building near its higher levels — a sign of strength rather than weakness.

On the daily timeframe, Reliance Industries shares have formed a strong bullish candle, backed by robust trading volumes. This signals renewed buying interest and positions the stock on the verge of a breakout from its current consolidation range. A decisive and sustainable move above the ₹1,475 level could act as a breakout trigger and pave the way for the next leg of its upward trajectory.

Given the strong technical setup and breakout potential, traders may consider buying Reliance shares at the current market price, with a stop-loss placed at ₹1,410 level, while a successful breakout above ₹1,475 could lead to a move towards the target of ₹1,585, Bagadia said.

BEL | Buy | Target Price: ₹445 | Stop Loss: ₹390

Bharat Electronics share price is hovering near its record high, maintaining a strong uptrend marked by a consistent pattern of higher highs and higher lows. This price structure reflects solid bullish momentum and sustained investor interest, positioning the stock firmly in an upward trajectory.

After a brief phase of consolidation at higher levels, BEL shares have now given a breakout supported by strong volumes, indicating renewed buying strength and the potential for a continuation of its upward move. If the stock manages to hold above the crucial ₹410 level, it could further accelerate toward the upside target of ₹445 in the near term.

Given the breakout and robust technical structure, traders may consider buying BEL shares at the current market price, with a stop-loss set at ₹390 level. Sustained strength above ₹410 could open the door for an upward move toward ₹445, according to Bagadia.

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.