Market Pulse: What to Expect from Nifty 50, Global Cues, and Top Stock Picks for July 4th

The Indian stock market saw a slight dip on Friday, July 4, 2025, with the Nifty 50 closing 0.19% lower at 25,405.30. The Bank Nifty also edged down by 0.36% to 56,791.95. While sectors like metals and realty experienced losses, auto, consumer durables, and healthcare showed resilience. Broader markets, including mid- and small-cap stocks, managed to gain up to 0.25%.

Navigating the Nifty: What the Charts Say

According to Rupak De, Senior Technical Analyst at LKP Securities, the Nifty 50 remains in a tight spot, staying below the 25,500 resistance level but firmly above the crucial support at 25,300. This suggests the index is likely to trade within this 25,300-25,500 band in the coming days, indicating a period of consolidation.

For the Bank Nifty, Reliance Securities anticipates some relief if it bounces from the 56,400-56,300 support zone. However, the upside appears capped near 57,600, suggesting limited room for significant gains in the short term.

Global Markets: A Cautious Outlook

Looking beyond domestic shores, global markets are also expected to remain in a consolidation phase. Siddhartha Khemka, Head of Research, Wealth Management at Motilal Oswal Financial Services Ltd., notes that investors are likely to adopt a "wait-and-watch" approach. This caution stems from ongoing trade negotiations and a slew of key US economic data releases on the horizon, including jobless claims, nonfarm payrolls, services PMI, and the unemployment rate. Additionally, Q1 business updates will be closely watched, potentially driving stock-specific movements.

Top Stock Picks: Your Intraday Guide for Friday

For those looking to make moves today, here are eight intraday stock recommendations from leading market experts Sumeet Bagadia (Choice Broking), Ganesh Dongre (Anand Rathi), and Shiju Koothupalakkal (Prabhudas Lilladher):

Sumeet Bagadia's Selections:

1. Saksoft Ltd. (SAKSOFT):

Buy around: ₹225.87

Target Price: ₹245

Stop-loss: ₹220

Why Buy: Saksoft witnessed a powerful bullish breakout with significant volume, indicating strong buying interest. It successfully broke out of a multi-week consolidation range, signaling a clear shift in sentiment.

2. Automotive Stampings and Assemblies Ltd. (ASAL):

Buy around: ₹625.65

Target Price: ₹667

Stop-loss: ₹600

Why Buy: ASAL showed a sharp rally, decisively breaking above its short-term consolidation zone with increased volumes. This suggests fresh buying interest and a potential for continued upward movement.

Ganesh Dongre's Picks:

3. Axis Bank (AXISBANK):

Buy around: ₹1170

Target Price: ₹1205

Stop-loss: ₹1145

Why Buy: A bullish reversal pattern has emerged, indicating a potential retracement towards ₹1205. The stock is holding a crucial support level at ₹1145, making it an attractive buying opportunity.

4. Tata Chemicals Ltd. (TATACHEM):

Buy around: ₹945

Target Price: ₹985 (or ₹995 in upcoming weeks)

Stop-loss: ₹915

Why Buy: The stock has strong support around ₹915 and has shown a reversal price action at ₹945, suggesting a continued rally towards its next resistance.

5. Punjab National Bank (PNB):

Buy around: ₹113

Target Price: ₹119

Stop-loss: ₹108

Why Buy: A notable bullish reversal pattern has formed, suggesting a temporary retracement towards ₹119. The stock is currently holding a key support level at ₹108.

Shiju Koothupalakkal's Recommendations:

6. BSE Ltd. (BSE LTD):

Buy around: ₹2820

Target Price: ₹2970

Stop-loss: ₹2760

Why Buy: After a short correction, the stock is showing signs of support near the lower band of an ascending channel. A positive revival and improved RSI indicate potential for further upside.

7. Sobha Ltd. (SOBHA):

Buy around: ₹1510

Target Price: ₹1570

Stop-loss: ₹1480

Why Buy: The stock has formed a higher bottom on the daily chart, taking support near key moving averages. A pullback and positive trend reversal in RSI signal a buying opportunity.

8. Chambal Fertilisers & Chemicals Ltd. (CHAMBAL FERT.):

Buy around: ₹565

Target Price: ₹600

Stop-loss: ₹552

Why Buy: The stock has been consolidating above its 200-period MA and is showing a positive bullish candle with RSI positive divergence, suggesting an anticipated rise with significant volume.