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Stocks to buy today, June 2: Here are two stocks recommended by analyst
Stocks to buy today:
NSE Scrip – HDFCLIFE
View - Bullish
Last Close – ₹777
The stock had been in a consolidation phase for the past four years, with the ₹750–₹760 zone acting as a strong resistance on two prior occasions. This key hurdle has now been decisively breached, confirming a long-term breakout. Volume analysis supports the move, as strong buying interest is evident during upswings, while downswings are accompanied by lower volumes, highlighting underlying strength in the counter. In recent times, prices have been trending steadily higher, with dips consistently finding support near the 20 DEMA. This suggests that buying interest remains intact, and we expect the positive momentum to continue.
NSE Scrip – WOCKPHARMA
View - Bullish
Last close – ₹1,465
After forming a base near the 200DSMA, the stock has witnessed a sharp rebound and recently broken out of a symmetrical triangle pattern. This breakout is backed by a significant surge in volume, confirming a price–volume breakout. Furthermore, the stock has closed above all key moving averages, reinforcing the overall bullish sentiment. The momentum oscillator RSI has also crossed above 60, indicating strengthening positive momentum.
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Mint
an hour ago
- Mint
Recommended stocks to buy today: Top stock picks by market experts for 5 June
On Wednesday, 4 June, the Indian stock market opened with a minor gap-up and traded sideways for most of the session. The Nifty 50 struggled to cross the 24,500 mark, which acted as a strong intraday resistance. Despite multiple attempts, the market lacked momentum and stayed range-bound throughout the day. However, select buying in key stocks helped indices close in the green. 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. Three stocks to buy today, as recommended by Ankush Bajaj Why Nava is recommended: The stock has recently given a reverse head and shoulders breakout on the daily chart, indicating a bullish reversal. On the lower time frame, the stock is also poised to give a falling wedge breakout on the upside, suggesting strong momentum and potential continuation 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 bullish on both daily and intraday charts, signaling strength in the ongoing move Technical analysis: Nava Ltd is trading with positive bias and has confirmed a bullish breakout pattern. The current price action near ₹529.80, supported by strong RSI and potential falling wedge breakout, suggests the stock could 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 bullish setup and attract profit booking. Any sharp correction in the midcap segment or broader indices may impact the expected move. Buy at: ₹529.80 Target price: ₹565-572 in 4-5 days Stop-loss: ₹515 Why Zen Technologies is recommended: The ZENTEC stock is showing strong bullish structure and is sustaining above key support levels with steady buying interest. Recent price action suggests 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: Bullish continuation with price holding above breakout support RSI: Trending bullish on both 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 bullish RSI signals and consistent volume support, suggests that the stock could 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 bullish setup and trigger profit booking. Any broader market weakness or sectoral rotation may also influence short-term price movement. Buy at: ₹2,229.60 Target price: ₹2,340-2,360 in 4-5 days Stop-loss: ₹2,179 Why Radico Khaitan is recommended: The stock exhibits strong bullish momentum with sustained buying interest after a recent consolidation. Price structure shows strength as it trades near recent highs, supported by volume expansion, indicating potential for further upside towards key resistance levels. Key metrics: Resistance level: ₹2,835 (short-term target); support level: ₹2,634 (pattern invalidation level) Pattern: Bullish continuation after consolidation with volume confirmationRSI: Trending bullish on both daily 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 bullish RSI and healthy volume, suggests the stock could move towards ₹2,835 in the coming sessions if it sustains above the breakout zone. Risk factors: A breakdown below ₹2,634 could invalidate the bullish setup and lead to near-term weakness. Broader market volatility or profit booking at higher levels may affect price action. Buy at: ₹2,723.40 Target price: ₹2,835 in 4-5 days Stop-loss: ₹2,634 Three stocks to trade, recommended by NeoTrader's Raja Venkatraman Why RVNL is recommended: Railway stocks had some undercurrent in the last few days, and this counter had a challenging task until the fortunes turned around in May 2025. From the charts, we can observe that the strong upside was reinforced on Wednesday. Currently, there is a strong push above the value resistance zone around 420. Post surpassing this level, the rise in momentum supported by steady volumes is highlighting the possibility of more upward traction. Key metrics: P/E: 75.45 | 52-week high: ₹647 | Volume: 41.13M. Technical analysis: Support at ₹320, resistance at ₹550. Risk factors: Market volatility and sector-wide fluctuations in geopolitical news could impact returns. Buy at: CMP and dips to ₹405. Target price: ₹470-485 in 1 month. Stop loss: ₹390. Why INDOCO is recommended: Indoco Remedies has secured final approval from the USFDA for its Abbreviated New Drug Application (ANDA) for Allopurinol Tablets USP, 200 mg. After a strong consolidation seen in the last few months, the stock is showing some encouraging signs and can look to move higher as trends demonstrate a strong upward drive. Investors can look to go long. Key metrics: 52-week high: ₹385.75 | Volume: 119.49K. Technical analysis: Support at ₹215, resistance at ₹350. Risk factors: Structural issues on the domestic front and regulatory setbacks on the export front. Buy at: CMP and dips to ₹264. Target price: ₹315-340 in 1 month. Stop loss: ₹258. Why GSFC is recommended: With monsoon appearing early, we can look at the trends emerging that can stage a strong run in the fertiliser stocks. As this sector picks up, we can look at some notable names that are showing some promise. This counter, after the initial build-up, is seen building some strong push to the upside. As the potential to generate upward momentum improves, one can consider some long-term. Key metrics: P/E: 14.74 | 52-week high: ₹274.50 | Volume: 6.31 M. Technical analysis: Support at ₹175, resistance at ₹320. Risk factors: Sluggish growth, negative quarterly results, and reduced institutional investor participation. Buy at: above 215 and dips to ₹200. Target price: ₹240-260 in 1 month. Stop loss: ₹195. Ankush Bajaj is a Sebi-registered research analyst. His registration number is INH000010441. Raja Venkatraman is co-founder, NeoTrader. His Sebi-registered research analyst registration no. is INH000016223. 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 guarantees performance of the intermediary or provide any assurance of returns to investors. Disclaimer: The views and recommendations given in this article are those of individual analysts. These do not represent the views of Mint. We advise investors to check with certified experts before making any investment decisions.
Mint
2 hours ago
- Mint
Three stocks to buy today, as recommended by Ankush Bajaj
On Wednesday, 4 June, the Indian stock market opened with a minor gap-up and traded sideways for most of the session. The Nifty 50 struggled to cross the 24,500 mark, which acted as a strong intraday resistance. Despite multiple attempts, the market lacked momentum and stayed range-bound throughout the day. However, select buying in key stocks helped indices close in the green. 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. Why Nava is recommended: The stock has recently given a reverse head and shoulders breakout on the daily chart, indicating a bullish reversal. On the lower time frame, the stock is also poised to give a falling wedge breakout on the upside, suggesting strong momentum and potential continuation 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 bullish on both daily and intraday charts, signaling strength in the ongoing move Technical analysis: Nava Ltd is trading with positive bias and has confirmed a bullish breakout pattern. The current price action near ₹ 529.80, supported by strong RSI and potential falling wedge breakout, suggests the stock could 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 bullish 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 Why Zen Technologies is recommended: The ZENTEC stock is showing strong bullish structure and is sustaining above key support levels with steady buying interest. Recent price action suggests 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: Bullish continuation with price holding above breakout support RSI: Trending bullish on both 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 bullish RSI signals and consistent volume support, suggests that the stock could 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 bullish 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 Why Radico Khaitan is recommended: The stock exhibits strong bullish momentum with sustained buying interest after a recent consolidation. Price structure shows strength as it trades near recent highs, supported by volume expansion, indicating potential for further upside towards key resistance levels. Key metrics: Resistance level: ₹ 2,835 (short-term target); support level: ₹ 2,634 (pattern invalidation level) Pattern: Bullish continuation after consolidation with volume confirmation RSI: Trending bullish on both daily 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 bullish RSI and healthy volume, suggests the stock could move towards ₹ 2,835 in the coming sessions if it sustains above the breakout zone. Risk factors: A breakdown below ₹ 2,634 could invalidate the bullish setup and lead to near-term weakness. Broader market volatility or profit booking at higher levels may affect price action. Target price: ₹ 2,835 in 4-5 days The oil and gas sector was the top performer on Wednesday, 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%, and Shriram Finance declined 1.09%, making them the top losers of the session. 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 indecision and continuation of the consolidation phase. This marks the 12th consecutive session where Nifty has remained trapped between 24,500 and 25,100, with no clear breakout in sight. (TradingView) On the technical front, Nifty has managed to close just above its 20-hour moving average, which is placed at 24,618, while still trading below the 40-hour exponential moving average at 24,674, indicating mild short-term pressure. On the daily chart, the index remains below the 20-day moving average at 24,724, but comfortably above the 40-day exponential moving average placed at 24,324, which keeps the broader trend neutral to positive. The momentum indicators remain flat near the midline, suggesting the ongoing consolidation could eventually lead to a directional breakout, but there's no strong signal yet. (TradingView) From the derivatives perspective, the data remains expiry-centric. 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 aligns with the current 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 suggests 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 unwound 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 highest 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 volatility expectations going into the weekly expiry. This drop in implied volatility, combined with the Put writing at 24,600 and the alignment of max pain at the same level, supports a thesis for a range-bound expiry, likely between 24,550 and 24,700 unless triggered by external factors. In summary, the index remains in a sideways phase with immediate 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-registered 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 assurance of returns to investors. Disclaimer: The views and recommendations given in this article are those of individual analysts. These do not represent the views of Mint. We advise investors to check with certified experts before making any investment decisions.
News18
6 hours ago
- News18
Kaynes Tech's promoter pares 1.8 pc stake for Rs 624 crore
Agency: PTI Last Updated: New Delhi, Jun 4 (PTI) A promoter of the Mysuru-based Kaynes Technology India on Wednesday divested a 1.8 per cent stake in the company for Rs 624 crore through open market transactions. According to the bulk deal data, promoter Ramesh Kunhikannan sold 6.25 lakh shares of Kaynes Technology India on the NSE and offloaded 5 lakh shares of Kaynes on the BSE — cumulatively a 1.8 per cent stake in the company. The shares were disposed of in the price range of Rs 5,550.87-5,553.03 apiece, taking the combined transaction value to Rs 624.58 crore. After the latest transaction, Kunhikannan's stake in Kaynes Technology India came down to 55.91 per cent from 57.71 per cent. Details of the buyers of Kaynes Technology India's shares could not be ascertained on the exchanges. Shares of Kaynes Technology India fell 0.97 per cent to close at Rs 5,730.05 apiece on the BSE, and dropped by 0.86 per cent to settle at Rs 5,738.50 per piece on the NSE. In a separate bulk deal on the NSE, the Motilal Oswal Foundation sold 37.04 lakh shares or 0.62 per cent stake in Motilal Oswal Financial Services for Rs 305 crore through an open market transaction. The shares were offloaded at an average price of Rs 825.01 apiece, taking the deal value to Rs 305.58 crore. First Published: June 05, 2025, 00:45 IST
