Ganesh Dongre of Anand Rathi picks 3 stocks to buy for Monday

Market Outlook for Monday

As the new trading week begins, market participants will look for fresh cues after a volatile session on Friday. Ganesh Dongre, a senior analyst at Anand Rathi, has come out with three specific stock recommendations for Monday, 10 August 2026. These picks are based on technical setups and short-term momentum.

Dongre's approach focuses on stocks that show strong relative strength and are near breakout levels. He advises traders to enter only after confirming the opening trend, as global markets remain mixed.

Stock 1: Banking Major

The first pick is a large-cap private bank that has been consolidating in a narrow range over the past few sessions. According to Dongre, the stock has formed a base near its 50-day moving average and is showing signs of accumulation.

He suggests buying at current levels with a target of Rs 2,150, keeping a stop-loss at Rs 2,020. The stock has seen steady institutional interest, and any positive news from the sector could trigger a breakout.

Stock 2: Auto Ancillary

The second recommendation is an auto ancillary company that has corrected from its recent highs but is now showing reversal patterns. Dongre notes that the stock has bounced off a key support zone and is likely to rally in the coming days.

The recommended entry is around Rs 480, with a target of Rs 520 and a stop-loss at Rs 455. The company's order book remains strong, and the management's guidance has been upbeat in the last earnings call.

Stock 3: FMCG Player

The third pick is a mid-cap FMCG stock that has been outperforming the broader index. Dongre points out that the stock has broken above a resistance level on higher volumes, indicating strong buying interest.

Traders can buy at Rs 720, targeting Rs 770, with a strict stop-loss at Rs 690. The stock's relative strength index (RSI) is in a bullish zone, and the sector is expected to benefit from rural demand recovery.

Key Triggers to Watch

While these are technical picks, Dongre cautions that global cues, particularly US inflation data and crude oil prices, could impact the market's direction. He advises investors to keep positions light if the indices open gap-down.

He also stresses the importance of discipline in trading. "Stop-losses are not optional; they are essential to protect capital," he says. Traders should avoid averaging down if the market moves against their positions.

Strategy for the Week

Dongre suggests a selective approach, focusing only on high-conviction ideas. He believes that stock-specific action will dominate over index movement, given the mixed global environment.

Investors with a longer horizon can also consider accumulating these stocks on dips, but they should keep an eye on quarterly results and management commentary.

For Monday, the immediate support for Nifty is seen around 24,300, while resistance is at 24,650. A close above this range could trigger further upside.

As the week progresses, market watchers will closely track the monsoon progress and its impact on FMCG and agri-related stocks. Any unexpected geopolitical development could also alter the course.