Stock market today: The Indian stock market closed the final trading session of June in the red, as investors booked profits after a strong four-day rally. Still, it marked the fourth straight month of gains, with the Nifty 50 rising 3.10% and the Sensex up 2.65% in June—taking their cumulative four-month gains to over 15%.
Notably, both indices have rebounded nearly 17.3% from their April lows, marking their strongest recovery in recent memory.
Three stocks to trade today, 1 July, as recommended by NeoTrader’s Raja Venkatraman:
Jtekt India (Current market price ₹145.53)
- Why it’s recommended: JTEKT India Ltd (JTEKTINDIA) is recommended due to its strong financial performance, including good profit and revenue growth over the past three years, healthy interest coverage, and efficient cash flow management. On the charts, too, we note that the prices have slowly and steadily moved out of the range since March lows and are looking to head higher.
- Key metrics:
- P/E: 48.75
- 52-week high: ₹225.25
- Volume: 2.18 M
- Technical analysis: Support at ₹134, resistance at ₹185.
- Risk factors: Rising transportation costs, regulatory shifts in construction norms, and price sensitivity in bulk contracts.
- Buy at: Current market price and dips to ₹139.
- Target price: ₹155-160 in 1 month.
- Stop loss: ₹1880.
Db Corp (current market price ₹284.65)
- Why it’s recommended: D B Corp has robust fundamentals and a compelling financial performance in the last quarter. On the price action we can observe that the price has been slowly inching higher and after consolidating near the TS line the charts are displaying a robust long body candle on Monday with volumes.
- Key metrics:
- P/E: 13.75
- 52-week high: ₹405
- Volume: 244.87 K
- Technical analysis: Support at ₹261, resistance at ₹325.
- Risk factors: AI powered search is driving decreasing traffic, increased competition and significant volatility in traffic patterns.
- Buy at: Current market price and dips to ₹275.
- Target price: ₹295-304 in 1 month.
- Stop loss: ₹270.
Heritage Foods (current market price ₹497.45)
- Why it’s recommended: Heritage Foods has maintained steady growth, driven by robust demand Consumer durables space. However, the constant demand at every reaction as seen on the charts indicate a strong buying interest at lower levels. With a robust volume building up recently one can consider a long in this counter.
- Key metrics:
- P/E: 27.45
- 52-week high: ₹658
- Volume: 821.18 K
- Technical analysis: Support at ₹438, resistance at ₹580.
- Risk factors: Increased competition and potentially overvalued stock
- Buy at: Current market price and dips to ₹468.
- Target price: ₹550-565 in 1 month.
- Stop loss: ₹459.
Stock Market Recap: 30 June
India’s recent market rally paused on Monday, with both the Sensex and Nifty closing lower after early weakness dragged the latter briefly below the 25,500 mark. A late rebound in PSU banks, tech, and media stocks helped pare losses, pushing the Nifty back above that level by the close.
The Sensex ended the day down 452.44 points (-0.54%) at 83,606.46, while the Nifty slipped 120.75 points (-0.47%) to settle at 25,517.05.
Broader markets once again outperformed the benchmarks: the BSE Midcap index rose 0.6% and the Smallcap index added 0.8%. The Nifty Bank index, which touched a fresh high of 57,614.50 intraday, cooled off to end 0.2% lower at 57,312.75.
Among the top drags were Tata Consumer, Axis Bank, Kotak Mahindra Bank, Hero MotoCorp, and Maruti Suzuki. On the gainers’ side, Trent, SBI, IndusInd Bank, Bharat Electronics, and Jio Financial provided support.
At the sector level, PSU banks surged 2.6% and pharma rose 0.5%, while realty, FMCG, autos, and metals saw mild pullbacks.
Investors will now watch for global cues and whether the ongoing outperformance in midcaps can be sustained.
Outlook for Trading
The market remains under pressure at higher levels, lacking the conviction needed to sustain its upward momentum. While occasional rallies are visible, persistent low participation and weak follow-through suggest that bullish trends are struggling to hold.
Geopolitical tensions—intensifying since April—have kept volatility elevated, making both trading and investing a challenging affair. At present, there are no clear signals indicating the extent or timing of any near-term correction.
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As highlighted in our previous note, the 24,800–24,900 zone continues to be a critical support range. The trading band is narrowing, and current option data suggests bearish undertones: the put-call ratio (PCR) has dropped to 0.65, indicating selling pressure at higher levels. Notably, call writing has now shifted lower to the 25,600 strike, establishing it as the next key resistance.
Despite sporadic attempts to push higher, the market has been unable to gather enough strength to sustain an upward move. The “max pain” level currently sits at 25,500—a zone that now needs to hold in order to maintain upward momentum. Continued dip-buying has kept bullish hopes alive, but the lack of clarity in directional cues means traders should adopt a neutral bias in the near term.
With trends turning increasingly two-sided, a balanced and pragmatic approach is essential to navigate the current market phase.
Raja Venkatraman is the co-founder of 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.
