The youth were allegedly killed in Army firing yesterday in Sumbal area of north Kashmir's Bandipora district.
"Inquiry ordered into the killings is laughable and it is only an announcement to cool the fraying tempers," Geelani, chairman of the hardline Hurriyat Conference, said in a statement here.
"There will be no inquiry and no uniformed personnel will be punished," he added.
Geelani called for a march on Wednesday to Markundal and Kondabal, ancestral villages of the two dead youths, and for peaceful protests after Friday's congregational prayers.