Buy or sell: Sumeet Bagadia recommends three stocks to buy on Monday – 6 July 2026
Buy or sell stocks: Market benchmark indices, the Sensex and the Nifty 50, extended their winning streak to a third straight session on Friday, July 3, led by gains in IT and pharma stocks despite mixed global cues.
The climbed 262 points, or 0.34%, to close at 77,763.91, while the gained 95 points, or 0.39%, to settle at 24,270.85.
Broader markets lagged the benchmarks, with the Nifty Midcap 100 declining 0.19% and the Nifty Smallcap 100 edging up just 0.04%.
On a weekly basis, both the Sensex and the Nifty advanced nearly 1%, marking their fourth consecutive week of gains.
The benchmarks were supported by buying in select heavyweight IT, pharma, and banking stocks amid largely positive global sentiment. Investor sentiment was also aided by expectations that the US Federal Reserve may adopt a less aggressive approach to interest rate hikes after softer-than-expected US June jobs data and a sharp pullback in crude oil prices from recent highs.
Nifty Outlook
Sumeet Bagadia, Executive Director at Choice Broking, highlighted that from a technical perspective, the 24,150–24,200 zone is expected to act as the immediate support area, as it coincides with the recent breakout zone, the falling resistance trendline, and the 100-day EMA.
As long as Nifty sustains above this range, the bullish structure is likely to remain intact and any corrective decline may attract fresh buying interest. A decisive break below 24,150 could result in consolidation towards the 24,050–24,000 zone, which remains a crucial short-term support area, he noted.
“On the upside, the index faces immediate resistance near 24,400, which coincides with the 200-day EMA. A sustained move above this hurdle could strengthen bullish momentum and pave the way for an advance towards 24,600, which marks the April swing high and a significant resistance level on the higher timeframe. Momentum indicators continue to support the positive outlook, with the RSI reclaiming the 60 mark and generating a bullish crossover. The ADX indicator also reflects improving strength, while the MACD histogram continues to expand positively, suggesting growing bullish participation,” said the expert.
He added that the weekly price structure has also turned constructive, with Nifty gaining nearly 0.89% during the week and forming a long bullish candle after two consecutive weeks of Doji-like formations. The presence of long lower shadows in recent weekly candles indicates strong buying interest at lower levels and suggests that the prolonged consolidation phase may be nearing completion.
Bank Nifty Outlook
According to the Choice expert, from a technical perspective, the 57,400–57,500 zone remains the immediate support area for Bank Nifty.
The index has repeatedly attracted buying interest around these levels, indicating that market participants continue to accumulate on declines. As long as Bank Nifty sustains above this support zone on a closing basis, the broader bullish trend is expected to remain intact.
However, a decisive breach below 57,400 could weaken sentiment and trigger a corrective move towards the 57,000–57,200 region, added Bagadia.
“On the upside, immediate resistance is placed in the 58,400–58,500 zone. This remains the most crucial hurdle for the index in the near term. A sustained breakout above this resistance band could trigger fresh momentum buying and lead to an extension of the pullback rally towards 58,900 initially, followed by the 59,300 zone. These levels are likely to act as the next major targets if banking stocks regain leadership within the broader market,” he predicted.
Moreover, the expert stated that the RSI continues to move sideways, reinforcing the view that Bank Nifty is currently undergoing consolidation rather than entering a fresh downtrend. On the weekly timeframe, the index declined 0.41% and formed a small bearish candle with a long lower shadow, following two consecutive weeks of high-wave and Doji formations. This reflects indecisiveness among market participants but also highlights strong buying support at lower levels.
Overall, the undertone for Bank Nifty remains cautiously bullish. The index continues to hold above its critical support zones and long-term moving averages, suggesting that the ongoing consolidation is likely a pause within a larger uptrend rather than a reversal. Traders should closely monitor the 58,500 resistance level, as a decisive breakout above this zone would confirm renewed bullish momentum and increase the probability of a move towards 59,000 and above. Until then, a range-bound strategy with a positive bias remains the preferred approach, he suggested.
Sumeet Bagadia’s stock recommendations today
Regarding stocks to buy on Monday, 29 June, Sumeet Bagadia recommended these three buy-or-sell stocks: Max Healthcare, Ultratech Cement, Indian Hotels
Buy MAXHEALTH in Cash @1153 SL @ 1100 TGT @ 1250
MAXHEALTH has staged a strong recovery from its June lows, delivering an impressive 26% rally and signalling renewed buying interest. The stock is trading in a well-defined higher high–higher low formation, supported by a rising trendline, indicating that the primary trend remains firmly positive. A decisive breakout above the 1100 resistance zone has attracted fresh buying momentum, backed by improving volumes.
Technically, the stock is comfortably trading above all key moving averages, while the 20-day EMA is crossing above the 200-day EMA and the 50-day EMA is crossing above the 100-day EMA, reinforcing a bullish trend reversal. The RSI at 69.74 reflects strong momentum without significant weakness. As long as MAXHEALTH sustains above 1100, the stock has the potential to extend its upmove towards 1250, while 1100 remains a crucial stop-loss level.
Buy ULTRACEMCO in Cash @ 11723 SL @ 11200 TGT @ 12600
ULTRACEMCO spent the previous week in a tight consolidation phase, trading within a narrow range while holding firmly around its 20-day, 50-day and 100-day EMA, reflecting healthy accumulation. In the current week, the stock has witnessed strong buying interest and has formed a bullish engulfing candlestick, indicating a shift in momentum towards the bulls. It has successfully closed above the 20-day, 50-day and 100-day EMA and is now positioned just below the 200-day EMA, making it an important breakout zone.
A sustained move above 11800 could confirm a fresh trend reversal and trigger further upside momentum. Today’s strong bullish candle also supports improving sentiment. With the overall structure turning positive, the stock has the potential to rally towards 12600, while 11200, which marks the present week’s swing low, should be maintained as the stop-loss.
Buy INDHOTEL in Cash @728 SL @ 700 TGT @ 777
INDHOTEL remained in a prolonged consolidation phase between May and mid-June, trading within a broad range of 630–680. The 680 zone acted as a major resistance as it coincided with the 200-day EMA, but a decisive breakout above this level triggered fresh buying interest and marked the beginning of a strong recovery. The stock is now trading above all its key moving averages, reflecting improving trend strength, and is approaching its previous swing high.
Additionally, the 20-day EMA is crossing above the 200-day EMA, while the 50-day EMA is crossing above the 100-day EMA, providing further confirmation of bullish momentum. The RSI at 65.91 indicates healthy strength with room for further upside. As long as the stock holds above 700, it is well positioned to advance towards the 777 target in the coming sessions.
Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint. We advise investors to check with certified experts before making any investment decisions.