Buy or sell stocks: The Indian stock market benchmark indices, Sensex and Nifty 50, are likely to open on a positive note on Friday, taking cues from overnight gains on Wall Street, although weakness in Asian markets may keep sentiment in check.
Asian equities traded lower in early deals, while the US stock market ended on a mixed note overnight. The Dow Jones Industrial Average extended its winning streak to a fourth consecutive week, marking its longest weekly advance since October 2024.
On Thursday, domestic equities ended firmly higher, led by broad-based buying across sectors. The BSE Sensex surged 579.48 points, or 0.75%, to settle at 77,502.12, while the Nifty 50 climbed 169.85 points, or 0.71%, to close at 24,175.70.
Stock market today
Nifty 50
Indian equity benchmark Nifty 50 index witnessed a strong positive close on 2 July 2026, extending its gaining streak for another session. Supported by robust buying in Information Technology stocks and strength across the broader market, the index opened on a firm note and maintained its upward momentum throughout the trading session. After a gap-up start, Nifty 50 steadily advanced towards the 24,200 mark, aided by sustained buying in IT, Auto and Realty stocks. The index eventually settled near the day’s high at 24,175.70, ending the session with a gain of 169.85 points or 0.71%. On the daily timeframe, the index formed a strong bullish candlestick pattern, indicating continued buying interest and strengthening market sentiment. The formation suggests that bulls remain firmly in control and that the ongoing recovery is gaining traction.
According to Sumeet Bagadia, Executive Director at Choice Broking, immediate support is placed in the 24,000–24,075 zone, while resistance is observed in the 24,300–24,350 range. The index has successfully broken out of its recent consolidation phase and is sustaining above its key moving averages, reinforcing the positive undertone. The Relative Strength Index (RSI) has also moved above its falling trendline, indicating strengthening momentum and improving bullish sentiment. A sustained move above the immediate resistance zone could pave the way for further gains towards 24,500, while a breach below 24,000 may drag the index back into a consolidation phase. Market breadth remained healthy, with 2,536 advancing stocks against 1,740 declining stocks, reflecting broad-based participation across the market.
Sectorally, the market witnessed strong buying interest led by Information Technology stocks. The Nifty IT index surged nearly 5%, snapping its four-session losing streak and emerging as the top-performing sector of the day. Auto, Realty, Consumer Durables and Metal indices also gained around 1% each, contributing positively to the market rally. On the other hand, Capital Goods, Power, Telecom and PSU Bank indices witnessed mild profit booking. Broader markets outperformed the benchmarks, with the Nifty Midcap 100 gaining 0.5% and the Nifty Smallcap 100 advancing 1.2%.
Bank Nifty
The Bank Nifty index witnessed a relatively subdued session compared to the benchmark indices, as profit booking in PSU banking stocks limited the upside despite the positive undertone in the broader market. On the daily timeframe, Bank Nifty formed a mild doji-like negative candlestick pattern, indicating that the index continues to consolidate near higher levels despite intermittent profit booking. The overall structure remains constructive as long as key support levels remain intact, suggesting that banking stocks may continue to provide stability to the broader market.
Bagadia noted that immediate support is placed in the 57,400–57,500 zone, while resistance is observed in the 58,800–59,000 range. Sustaining above the support zone could keep the bullish structure intact, while a breakout above the resistance range may trigger fresh upward momentum in the banking space.
Markets witnessed a strong and broad-based rally, primarily driven by a sharp rebound in Information Technology stocks after a prolonged decline. Positive participation from Auto, Realty and Consumer-oriented sectors, coupled with strong gains in the broader market, further strengthened overall sentiment. The breakout above the recent consolidation range and sustained trading above key moving averages indicate improving momentum and strengthening bullish undertones. Going forward, continued strength above the 24,000 support zone could pave the way for a move towards the 24,300–24,500 resistance range, while the identified support levels will remain crucial for maintaining the prevailing bullish bias.
Sumeet Bagadia’s stocks to buy
Sumeet Bagadia recommends five shares to buy on Friday, 3 July: Ltd, Ltd, Ltd, Ltd, and Ltd.
Buy NIIT in cash at ₹104.6; SL at ₹98.7; TGT at ₹114
NIIT Ltd has witnessed a strong technical turnaround after emerging from a prolonged corrective phase, with the stock now trading around 104.61. The recent breakout above the psychological 100 mark, backed by a sharp rise in volumes, reflects renewed buying interest and improving market sentiment. Technically, the stock has reclaimed all its major moving averages, with the 20-day EMA positioned above the 50-day, 100-day and 200-day EMAs, indicating a strong bullish alignment.
The price is also sustaining above its recent breakout zone above 98.7, suggesting that the ongoing uptrend remains intact. RSI is hovering above 60, highlighting healthy momentum without indicating excessive overheating. On the downside, 98.70 remains a key support level and should be maintained as the stop-loss. If NIIT Ltd continues to hold above current levels, the positive momentum could propel the stock towards the 114 target in the near term.
Buy Aditya Birla Sun Life AMC in cash at ₹1,199; SL at ₹1,133; TGT at ₹1,300
Aditya Birla Sun Life AMC is maintaining a strong bullish trend, with the stock currently trading around 1,191 after witnessing a steady upmove over the past few months. Following its recent rally, the stock is consolidating near its all time-highs, indicating that buyers continue to dominate despite minor profit booking. The price is trading comfortably above the key EMAs, while the rising 20-day EMA at 1,133 is acting as immediate dynamic support, making it an ideal stop-loss level.
Momentum indicators also remain constructive, with RSI holding above the 60 mark, reflecting sustained buying strength. A decisive move above the recent swing highs could trigger fresh momentum towards the 1,300 target. As long as the stock respects the 20-day EMA, the overall trend remains firmly positive and any short-term dip towards support may offer buying opportunities.
Buy DCB Bank in cash at ₹193.5; SL at ₹184; TGT at ₹210
DCB Bank is showing signs of a fresh bullish continuation after breaking out of a prolonged consolidation range. The stock is currently trading around 193.50, just below its previous swing high, indicating that buyers are gradually gaining control. The overall price structure remains positive, with the stock trading above its key EMAs, reflecting strength across both the short- and long-term trend.
The 20-day EMA is providing immediate support, while improving trading volumes suggest continued institutional participation. RSI has also moved above the 60 mark, highlighting strengthening momentum without entering the overbought zone. The 184 level remains a crucial support and should be maintained as the stop-loss. A sustained move above the recent resistance zone could accelerate buying interest and drive the stock towards the 210 target in the coming sessions.
Buy Deepak Fertilisers & Petrochemicals Corporation in cash at ₹1,664; SL at ₹1,600; TGT at ₹1,777
Deepak Fertilisers is displaying a strong continuation pattern after delivering a sharp recovery from its March lows. The stock is currently trading around 1,664, comfortably above all its key moving averages, reflecting a firmly established uptrend. The recent breakout to a fresh swing high indicates sustained buying interest, while the formation of higher highs and higher lows reinforces the positive price structure.
The 20-day EMA is rising steadily, highlighting strong short-term momentum, with the major key EMAs also trending upward, providing additional support to the bullish outlook. RSI is approaching the 70 zone, signalling robust momentum backed by healthy participation. The 1,600 level serves as an important support and should be used as the stop-loss. As long as the stock holds above this level, the ongoing strength could extend the rally towards the 1,777 target over the coming sessions.
Buy Poly Medicure in cash at ₹1,732; SL at ₹1,643; TGT at ₹1,860
Poly Medicure has delivered a significant technical breakout after spending several weeks hovering around its 200-day EMA, where repeated attempts to move higher were met with selling pressure. In the latest trading session, the stock has finally registered a decisive close above the 200-day EMA, signalling that buyers have gained control and that the long-term trend may be turning positive.
This breakout is further supported by improving momentum and a gradual rise in trading volumes, indicating fresh accumulation at higher levels. The price is also sustaining above its shorter-term moving averages, reinforcing the bullish setup. The 1,643 level, which coincides with the 200-day EMA, now becomes a crucial support and should be maintained as the stop-loss. As long as the stock holds above this breakout level, it has the potential to extend its recovery towards the 1,860 target in the coming sessions.
Disclaimer: This story is for educational purposes only. The views and recommendations above are those of individual analysts or broking companies, not Mint. We advise investors to check with certified experts before making any investment decisions.