Top stocks to buy today: Stock recommendations for July 4, 2025 – check list
Stock market recommendations: According to Bajaj Broking Research, UPL, and Chennai Petroleum Corporation are the top stock picks for today. Here’s its view on Nifty, Bank Nifty and the top stock picks for July 4, 2025:Index View: NIFTYIn recent weeks, the Nifty index has showcased remarkable resilience, maintaining its upward trajectory and investor confidence despite a challenging macroeconomic and geopolitical environment. The index formed a nine month high of 25,669 on Monday’s trade. Index thereafter consolidated in a 300 points range with corrective bias signaling profit booking at higher levels after recent strong up move.The index during the current week rebounded from the immediate support area of 25,400-25,350. Going ahead, the index holding above 25,400-35,350 on a closing basis will lead to a pullback towards 25,900-26,000 levels in the coming sessions. However, failure to do so may lead to a healthy retracement or consolidation, with the index likely moving within the broader 25,200–25,700 range.The percentage of Nifty 500 constituents trading above their 200-day exponential moving average (EMA) — a widely tracked measure of market breadth — has shown a notable and broad-based recovery in recent months. After bottoming out below the 10% mark in March 2025, a level historically associated with extreme bearish sentiment and oversold market conditions, the indicator has since rebounded sharply and currently stands at approximately 59%. This resurgence reflects a meaningful shift in market dynamics, transitioning from narrow leadership to a more inclusive rally. Importantly, breadth thrusts of this nature have historically preceded or accompanied sustained bull market phases. In prior cycles, similar recoveries have seen the indicator rise to above 90%, suggesting there may be further upside potential in the current move. The improvement in this breadth metric indicates that the ongoing rally is gaining internal strength, with a growing number of stocks participating in the upside. This is a constructive signal for medium- to long-term investors, as healthy breadth tends to support the durability of upward market trends.Key positional support lies at 25,200–25,000 levels being the confluence of the 20 days EMA and the upper boundary of the recent consolidation breakout area (25,200-24,500), which is expected to act as a support level, showcasing change of polarity, where previous resistance turns into support.NIFTY BANKBank Nifty consolidated with positive bias at the all-time high during last month. Escalating tensions in key global regions, which typically heighten market volatility, have not deterred the index’s momentum.We expect the index to extend the current up move and head towards 58,500- 59,000 levels in the coming month, the measuring implication of the last 15 sessions consolidation breakout (57050-55150).The Index has rallied 18% in the last four months, hence some consolidation cannot be ruled out at higher levels. We believe dips in the coming month should be used as a buying opportunity. Key support is placed around 56,000-55,500.Stock Recommendations:UPLBuy in the range of Rs 670-690
The stock has witnessed a strong rebound after a base at the 100 days EMA signaling strength. It is at the cusp of breaking above the high of May 2025 (699) thus offers fresh entry opportunity. The weekly 14 periods RSI has recently generated a buy signal moving above its nine periods average thus validating positive bias. We expect the stock to head higher towards 747 levels in the coming months being the 161.8% external retracement of the previous decline (699-618).Chennai Petroleum CorporationBuy in the range of Rs 700-720
The stock has recently generated a breakout above a falling channel in the weekly chart signaling strength and offers fresh entry opportunity.The breakout is supported by strong volume and the base of recent consolidation is placed at the 500 days EMA which supports the positive bias.The weekly stochastic has generated a buy signal moving above its nine periods average signaling positive bias. We expect the stock to head towards 787 levels in the coming months being the 61.8% retracement of the previous decline of October 2024 to March 2025 (999-433).(Disclaimer: Recommendations and views on the stock market and other asset classes given by experts are their own. These opinions do not represent the views of The Times of India)
