Stocks to buy today: Paytm, Swiggy among top 5 trading ideas for 2 June 2025
Nifty may consolidate with a positive bias; key support at 24,444, upside seen above 24,800.
The Indian market is expected to consolidate with a positive bias on Monday amid mixed global cues. Nifty futures closed lower at 24,852 on Friday, while India VIX dropped over 2%. Analysts suggest a broader trading range of 24,300–25,300. Key levels to watch are 24,800 for upside momentum and 24,444 on the downside. Experts recommend stocks like Paytm, Swiggy, and Bajaj Finserv.
Tired of too many ads?
Remove Ads
Tired of too many ads?
Remove Ads
Stock Recommendations for Short-Term Traders
Expert: Aakash Hindocha, Technical Analyst, Research at Nuvama Wealth (via ETBureau)
Expert: Kunal Bothra, Market Expert (via ETNow)
Tired of too many ads?
Remove Ads
The Indian market is likely to consolidate with a positive bias on Monday, tracking mixed global cues.The Nifty futures closed lower with a loss of 0.36% at 24,852 on Friday. India VIX fell over 2% to close at 16.08 in the previous session.On the options front, the maximum Call open interest (OI) is seen at the 24,800 and 25,000 strike prices, while the maximum Put OI is at 24,500 followed by 24,700.Call writing was observed at 24,800 and 25,500 strikes, while Put writing was seen at 24,400 and 24,000 strikes.'Options data suggests a broader trading range between 24,300 to 25,300 zones, with an immediate range between 24,500 to 25,000,' said Chandan Taparia, Analyst – Derivatives at Motilal Oswal Financial Services 'On the technical front, Nifty formed an inside bar pattern on both the daily and weekly charts last week, reflecting indecision and a narrowing price range,' he added.'Now, it has to cross and hold above the 24,800 zone for an upward move towards 25,000 and then 25,200. Otherwise, weakness could be seen towards 24,600 and then 24,444,' Taparia advised.On the weekly scale, Nifty Bank formed a small bullish candle on Friday and posted its highest weekly close in five weeks.Buy | Target: Rs 985 | Stop Loss: Rs 852Buy | Target: Rs 366 | Stop Loss: Rs 320Buy | Target: Rs 2,060 | Stop Loss: Rs 1,990Buy | Target: Rs 240 | Stop Loss: Rs 215Buy | Target: Rs 155 | Stop Loss: Rs 143: Recommendations, suggestions, views, and opinions given by experts are their own. These do not represent the views of the Economic Times)
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Time of India
28 minutes ago
- Time of India
'Maggi crisis was one of the greatest challenges of career'
NEW DELHI: The Maggi crisis, which unfolded in June 2015 and led to a nationwide ban of the popular instant noodles, was "one of the greatest challenges" of my career, said Suresh Narayanan , chairman and MD of Nestle India, said in his final letter to shareholders before his retirement on July 31. Narayanan, who took over as the company's CMD in 2015, is recognised for rejuvenating the company's flagship brand Maggi, after the FSSAI (Food Safety and Standards Authority of India) raised concerns about high levels of lead and monosodium glutamate in the product, leading to a temporary ban and significant backlash for the brand. Maggi noodles went from market leadership to near extinction and recovered 60% of its market share within months of its relaunch, he added. In his letter, Narayanan highlighted the decade's achievements, noting that Nestle India's capex increased from 1.8% of sales in 2015 to 10% in 24-25. "This not only demonstrates the focus on Indian consumers, but also our commitment to manufacture in India and 'Make in India' as a theme,'' he said. The company achieved a CAGR of over 10% in revenue and 21% in net profit over 2015-2025. Its revenue in FY24-25 stood at Rs 20,100 crore and net profit at Rs 3,300 crore. "In 2015, many considered us to be solely a Maggi noodles company. Since then we recalibrated and rejuvenated the portfolio launching over 150+ new products that have contributed to 7% of sales,'' Narayanan said. Stay informed with the latest business news, updates on bank holidays and public holidays . AI Masterclass for Students. Upskill Young Ones Today!– Join Now
Time of India
28 minutes ago
- Time of India
Dixon, Florence see silver lining in Trump's tariffs
PARIS: They are a study in contrast: One is an electronics goods maker, the other a footwear manufacturer. One has its base in Chennai, the other up North. But, both are focusing on ramping up at breakneck speed, hoping to cash in on overseas players seeking to tap India, not just for its domestic market but also for exports, especially after Trump's tariffs. Tired of too many ads? go ad free now The other similarity is scale. Electronics goods supplier Dixon Technologies, which has been busy with tie-ups to manufacture phones, laptops and consumer durables, is seeing a huge uptick in export orders from the US as countries seek to reduce reliance on China. "Indian market is around $40 billion, the US has imports of around $80 billion. In the next few years, we see a $100 billion export opportunity in the US and EU," said Dixon Technologies chairman Sunil Vachani. If it is smartphones that have seen a massive surge in production, it will be laptops in the next few years as companies look to first meet the domestic demand before venturing into exports, he said. "We missed the opportunity during Trump 1, when Indian companies were not ready. But now we have built scale, we are designing our own products. We have a foot in the door, and we will be like Vietnam in a few years once the component ecosystem is also developed," Vachani added. In Chennai, Florence Shoe Company chairman Aqueel Panaruna, whose family was in the leather footwear business, is manufacturing a million pair of sports shoes for one of the top global brands. His company is also a joint venture partner with Hong Fu, the world's second largest sports shoes maker for the likes of Nike and Adidas, to set up a $300 millon plant that can produce 10 million pairs of shoes. While the new quality control norms on footwear has driven global majors to eye more production in India, the shift began soon after Covid, with who's who of sports shoes, from Nike, Adidas, Puma and New Balance, tying up with local players to meet global and domestic demand. Tired of too many ads? go ad free now For Florence, the challenge in recent years has been the growing dependence on the US, which now accounts for around 80% of its exports, compared to 25% a decade ago. Trump's tariffs have added a 10% additional burden, with shoes now attracting up to 30% customs duty. But Panaruna is not worried. He is in fact banking on the trade deals with the US, UK and EU offering possibilities for more sourcing from India. "If the Hong Fu experience is good, we may see some of the factories shift from Vietnam to India," he said. "With displays and camera modules to be produced in India, value addition in mobiles could rise from 17-18% to around 40% in the next two-three years, nearing China's level of 50-55%," Vachani said.
Time of India
30 minutes ago
- Time of India
Stress riding pillion on two-wheeler loans, may puncture asset quality: Moody's
Synopsis Moody's Ratings warns of potential asset quality decline in Indian banks' vehicle loan portfolios. The agency cites slowing vehicle sales growth post-pandemic. Two-wheeler loans are particularly vulnerable due to younger, lower-income borrowers. System-wide non-performing loans are expected to remain between 2-3%. Unsecured loan defaults are rising, while housing loans are expected to remain stable.
