Stocks to buy: What's the outlook for Nifty for June 15-June 19 week? Check list of top stock recommendations

Stock market recommendations: Sudeep Shah, Head - Technical Research and Derivatives, SBI Securities has picked Karnataka Bank, Avalon Technologies as the stocks to buy in the June 15-June 19, 2026 week. Outlook on Nifty50 and Bank Nifty has also been shared:Karnataka Bank Karnataka Bank has displayed impressive resilience by consolidating around its 20-day EMA since early June before witnessing a strong pullback on 12th June. The stock has now approached the crucial resistance zone of 278–280, indicating growing buying interest and the potential for a breakout.

Technically, the setup remains favourable as the stock continues to trade comfortably above its key short-term and long-term moving averages, reflecting a well-established uptrend. The rising ADX on the weekly chart points to strengthening trend momentum, while the MACD is on the verge of a bullish crossover. A decisive move above the resistance zone could trigger fresh upside momentum in the sessions ahead. Hence, we recommend to accumulate the stock in the zone of 273-278 with a stoploss of 265.

On the upside, it is likely to test the level of 295 in the short term.Avalon TechnologiesAVALON continues to exhibit a strong bullish structure, maintaining a higher high–higher low formation on both the daily and weekly charts, a hallmark of a sustained uptrend. The stock is trading comfortably above its key short-term and long-term moving averages, reflecting robust price strength across timeframes. Trend indicators remain supportive, with the ADX on the weekly chart turning higher, signaling bullish trend strength.

The MACD setup is equally encouraging, as the MACD line remains above both the signal line and the zero line, accompanied by rising histogram bars. Meanwhile, the RSI has bounced higher from the 60 level, reinforcing positive momentum and supporting further upside potential. Hence, we recommend to accumulate the stock in the zone of 1685-1695 with a stoploss of 1640. On the upside, it is likely to test the level of 1810 in the short term.Nifty ViewLast week, the benchmark index Nifty experienced heightened volatility, particularly during the first four trading sessions, where it traded within a narrow range of 355 points. Despite the choppy movement, a noteworthy positive was the index's ability to repeatedly find support near the 61.8% Fibonacci retracement level of its previous rally (22182–24602). In fact, Nifty tested this crucial support zone on three separate occasions during the week, highlighting strong buying interest and indicating the formation of a sturdy base.

This resilience eventually paved the way for a sharp recovery on Friday—but what sparked such a decisive turnaround after days of uncertainty?Market sentiment received a significant boost on Friday following encouraging developments in West Asia. Further supporting investor confidence, Brent crude oil prices witnessed a sharp decline and slipped below the $90 mark. As a result, Nifty ended the week with a gain of 1.10% and formed a strong bullish candle on the weekly chart.

While the rebound itself was impressive, the underlying technical developments made the move even more compelling.From a technical standpoint, Friday’s rally carries added importance as the index managed to close above its 20-day EMA for the first time since May 2026, signalling a revival in short-term momentum. Momentum indicators have also turned supportive, with the Daily RSI rebounding sharply from lower levels and moving above both the 50 mark and its 9-day average.

In addition, the Daily Stochastic has registered a bullish crossover, reinforcing the improving market structure.

With several technical indicators aligning in favour of the bulls, attention now shifts to the next critical levels on the chart.Going ahead, the breakout above key short-term resistance levels, supported by strengthening momentum indicators, suggests that Nifty may extend its recovery towards 23,800, followed by the psychological milestone of 24,000.

On the downside, the zone of 23,350–23,300 is expected to act as a crucial support area. As long as the index holds above this zone, the near-term bias is likely to remain positive—but whether this move evolves into a sustained uptrend or remains a relief rally could become clearer in the sessions ahead.Bank Nifty ViewThe banking benchmark index, Bank Nifty, has emerged as a clear outperformer in recent trading sessions. Last week, the index confirmed a breakout from a Symmetrical Triangle pattern on the daily chart, resulting in a strong upward move. More importantly, the resilience shown by banking stocks played a pivotal role in helping the broader market stabilize near crucial support levels and stage a sharp recovery. But is this leadership from the banking pack strong enough to drive the next leg of the market rally?From a technical perspective, the setup remains encouraging.

Bank Nifty is trading comfortably above all its key moving averages, while the 20-day and 50-day EMAs have started sloping higher, indicating a strengthening trend. Momentum indicators are also supporting the bullish outlook. Notably, the daily RSI has climbed above the 60-mark for the first time since February 2026, reflecting a meaningful improvement in momentum.

With trend and momentum indicators moving in tandem, the focus now shifts to the index's next important milestones.Considering the favourable chart structure and strengthening momentum, Bank Nifty is likely to continue its upward journey and test the 57,500 level, followed by 58,300 in the near term. On the downside, the zone of 56,200–56,000 is expected to act as a crucial support area and provide a cushion against any short-term corrective moves. As long as this support zone remains intact, the path of least resistance appears to be on the upside—but the sustainability of the breakout will be closely watched in the coming sessions.(Disclaimer: Recommendations and views on the stock market, other asset classes or personal finance management tips given by experts are their own. These opinions do not represent the views of The Times of India.)