The nifty 50 ended 77.70 points higher, up 0.32%, to close at 24,620.20. The BSE Sensex also added 260.74 points or 0.32%, Finishing at 80,998.25. Bank nifty outperformed slightly, gaining 76.90 points or 0.14%, settling at 55,676.85.
On to the top three stocks to buy today, as recommended by ankush bajaj.
Buy: Nava LTD (Current Price: 529.80)
Why nava is recommended: The stock has recently given a reverse head and shoulders breakout on the daily chart, indicating a bullish reverse. On the lower time frame, the stock is also poised to give a Falling Wedge Breakout on the UPSIDE, Suggessting Strong Momentum and Potential Containuation Towards Higher Targets.
Key metrics: Resistance level: 565-572 (short-term target range); support level: 515 (Pattern Invalidation Level)
Pattern: Reverse Head and Shoulders Breakout With Falling Wedge Setup on Lower Time Frames
RSI: Trending bulish on bot daily and intraday charts, signaling strength in the ongoing move
Technical analysis: Nava ltd is trading with positive bias and has confirmed a bully pattern. The current price action near 529.80, supported by Strong RSI and Potential Falling Wedge Breakout, Sugges the Stock Cold Test the 565-572 zone in the coming sessions if it sustains Above the breakout level.
Risk factors: A breakdown beLow 515 could invalidate the bulish setup and attract profit booking. Any sharp correction in the midcap segment or broader indices may impact the expected move.
Target price: 565-572 in 4-5 days
Buy: Zen technologies LTD (Current Price: 2,229.60)
Why zen technologies are recommended: The zentec stock is showing strong bullish structure and is sustaining Above Key Support Levels with STEADY BUYING Interest. Recent Price Action Sugges Momentum Buildup, and The Stock is Well-Positioned to Continue its upward Trajectory Towards Higher Resistance Zones.
Key metrics: Resistance level: 2,340-2,360 (short-term target range); support level: 2,179 (Pattern Invalidation Level)
Pattern: Bulish Continuation with Price Holding Above Breakout Support
RSI: Trending bulish on bot daily and intraday charts, indicating sustained strength
Technical analysis: Zentec is trading with a positive bias and has maintained its uptrend with higher highs and higher lows. The current price action near 2,229.60, Backed by Bulish RSI Signals and Consistent Volume Support, Sugged that the Stock Cold Test the 2,340-2,360 zone in the coming sessions if it holds Above the support.
Risk factors: A breakdown beLow 2,179 could invalidate the Bulish Setup and Trigger Profit Booking. Any Broader Market Weakness or Sectoral Rotation May also Influence Short-Term Price Movement.
Target price: 2,340-2,360 in 4-5 days
Buy: Radico khaitan LTD (Current Price: 2723.40)
Why radico khaitan is recommended: The stock exhibits strong bullish bulish momentum with sustained buying interes after after a recent consolidation. Price Structure Shows Strength as it trades Near Recent Highs, Supported by Volume Expaniation, Indicating Potential for Furter UPSIDE TOWARDS Key Resistance Levels.
Key metrics: Resistance level: 2,835 (short-term target); support level: 2,634 (Pattern Invalidation Level)
Pattern: Bully Consolidation with Volume Confirmation
RSI: Trending Bully and Intraday Charts, Signaling Ongoing Strength
Technical analysis: Radico khaitan is trading with a positive bias, having recently broken Above Short-Term Resistance. The current price action near 2,723.40, supported by Bulish RSI and Healthy Volume, Sugges the Stock Cold Move Towards 2,835 in the coming sessions if it sustains about the breakout zone.
Risk factors: A breakdown beLow 2,634 unwalidate the bulish setup and lead to near-term weakness. Broader Market Volatily or Profit Booking at Higher Levels May Affect Price Action.
Target price: 2,835 in 4-5 days
Market Wrap – 4 June, 2025 (Wednsday)
The oil and gas sector was the top performance on wedding, Rising 0.67%, Reflecting Buying Interest in Energy Names. The infrastructure index followed closely, up 0.65%, While The Metal Index Gained 0.60%. On the downside, the realty sector was the only significant laggard, slipping by 0.70%.
On the stock-specific front, eternal Led the Gainers with a 3.36%Rise, Followed by Jio Finance, Which Gained 2.27%, and Bharti Airtel, Up 1.85%. Meanwhile, Bajaj Finance Fell 1.80%, Trent Lost 1.49%, Shriram Finance Declined 1.09%, Making them the Top Loosers of the Session.
Nifty Technical Analysis Daily and Hourly
The nifty witnessed another day of range-bound action but managed to close in the green, ending 77.70 points higher at 24,620.20, up 0.32%. Despite Trading Within A Narrow Band, The Index Saw a Recovery from Lower Levels and Formed An Inside Candle on the Daily Chart, Signaling Indeaction and Continuation of the Consolidation Phase. This marks the 12th CONSECUVE SESSIN WHERE NIFTY HAS Remained Trapped Between 24,500 and 25,100, with no clear breakout in Sight.
On the technical front, nifty has managed to close just about Above its 20-his movement average, which is placed at 24,618, While Still Trading Bell the 40-Hour-Hour-Hour-Hour-Hour-Hour-Hour-Hour-Hour Indicating Mild Short-Term Pressure. On the Daily Chart, The Index Remains Below The 20-Day Moving Average at 24,724, but comfortable above the 40-day exponical moving average placed at 24,324, which keeps the broader trend neutral to op. The Momentum Indicators Remain Flat Near The Midline, Suggesting The Ongoing Consolidation could then lead to a directional breakout, but there’s no strong signal.
From the derivatives percective, the data remain expiry-classric. Nifty Futures Oi Data Shows Maximum Call Oi Build-up at the 25,500 strike, indicating strong resistance overhead, while the maximum put oi is placed at 24,600, which also Akso Akso Akso Akso Alans Spot level and the max pain zone. This sets up 24,600 as a critical expiry Pivot. The put-call ratio stands at 0.60, reflecting a bearish bias in the overall oi structure.
However, the change in oi sugges some optimism. Total Call Oi Stands at 21.54 CR Against 13.03 CR on the put side, giving a negative differential of -8.51 Cr, but today’s change shows 1.52 Cr Added In Puts and 1.63 CR UNWND from Calls, Resulting in a Positive shift of +3.15 CR – indicating that traders may be defending the 24,600 level into expiry. Notably, both the highhest put oi and highest put oi addition have Occurred at the 24,600 strike, suggesting expiry pinning Around this Level.
India Vix Dropped 6.33% to Close at 14.94, Indicating Reduced Volativity Expectations Going Into The Weekly Expiry. This drop in implied valati, combined with the put writing at 24,600 and the alignment of Max pain at the same level, supports a the thesis for a range for a range-bound expiry, likely 24,550 and 24,7,700 us triggered by external factors.
In summary, the index remains in a sideways phase with immediati resistance at 24,700–24,750 and Strong Support at 24,600–24,500. A move outside this band could trigger sharp expiry-day moves. Until then, Short Straddles or Strangles Around the 24,600 Strike with Tight Risk Controls Can Be Considered. Watch for intraday triggers Above 24,700 or below 24,500 for expiry-specific Directional Opportunities.
Ankush bajaj is a sebi-regified research analyst. His registration number is inh000010441.
Investments in Securities are Subject to Market Risks. Read all the related documents carefully Before Investing.
Registration Granted by Sebi and Certification from Nism in No Way Guarantee Performance of the Intermediary or Provide any assuance of returns to investors.
Disclaimer: The Views and recommendations giving in this article are there that of individual analysts. These do not represent the views of Mint. We Advise Investors to Check With Certified Experts Before Making Any Investments Decisions.
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