Buy or sell stocks: Indian equity benchmarks ended a choppy and range-bound session marginally higher on Thursday, June 4, as investors adopted a cautious stance ahead of the Reserve Bank of India’s crucial policy meeting. Market sentiment remained subdued amid concerns over inflation and economic growth stemming from the ongoing US-Iran conflict, while tensions in the Middle East further weighed on investor confidence.
The BSE Sensex settled at 74,360, gaining 14 points or 0.02%, whereas the Nifty 50 closed 11 points higher, up 0.05%, at 23,417.
Stock market today
Nifty 50
On 4th June 2026, the Nifty 50 opened with a gap-down of 123.15 points at 23,282.45, reflecting weak sentiment at the start of the session. However, buying interest emerged immediately after the opening, helping the index register its intraday low of 23,247.30 within the first few minutes of trade. Thereafter, the recovery remained strong throughout the first half, with the index steadily moving higher. Although some profit booking was witnessed during the early part of the second half, buyers quickly regained control and pushed the index higher once again. The benchmark eventually registered an intraday high of 23,465.30 before settling at 23,416.55, registering a gain of 10.95 points or 0.05% over the previous close.
According to Sumeet Bagadia, Executive Director at Choice Broking, on the daily timeframe, the formation of a bullish candlestick pattern indicates buying support emerging at lower levels. The ability to recover from a gap-down opening and close in positive territory suggests that market participants remained willing to accumulate positions despite the weak start.
“From a technical perspective, immediate support is placed in the 23,200–23,250 range, while resistance is observed between 23,550 and 23,600 levels. The Relative Strength Index (RSI) stands at 41.72, indicating improving momentum though the index continues to trade below the stronger bullish zone. In the derivatives segment, notable call writing was seen at the 23,500 strike, followed by 23,700, while significant put writing was observed at 23,300 and 23,400 levels, indicating immediate support near lower levels while resistance remains positioned around higher strikes,” Bagadia said.
Bank Nifty
The Bank Nifty index opened with a gap-down of 267.10 points at 53,918.85, indicating weakness in the banking space at the start of the session. However, the index registered its intraday low of 53,829.40 within the first few minutes and thereafter witnessed sustained buying interest throughout the first half. Although some profit booking emerged during the early part of the second half, the decline remained limited as buyers stepped in once again. The recovery gathered momentum later in the day, pushing the index to an intraday high of 54,461.00 before eventually settling at 54,307.85, registering a gain of 121.90 points or 0.22% over the previous close.
Bagadia noted that on the daily timeframe, the formation of a bullish candlestick pattern reflects buying support emerging at lower levels. The close near the upper end of the day’s range indicates continued strength in the banking segment despite the weak opening.
“From a technical standpoint, immediate support is placed in the 53,700–53,800 range, while resistance is seen in the 54,800–54,900 zone. The Relative Strength Index (RSI) stands at 48.57, indicating improving momentum and a gradual strengthening in the banking index. Sustaining above immediate support levels will remain important for continuation of the ongoing recovery momentum,” he said.
He further advised traders to closely monitor immediate resistance zones, as sustained movement above these levels will be crucial for confirming stronger recovery momentum and improving overall market sentiment in the near term, as the recent price action suggests a recovery-oriented trading session with both benchmark indices opening sharply lower but attracting strong buying interest from lower levels.
Despite intermittent profit booking during the second half, Nifty and Bank Nifty managed to close in positive territory, highlighting resilience in the broader market. Improved market breadth, along with a decline in India VIX, reflects easing volatility and improving risk appetite among participants, he added.
Sumeet Bagadia’s stocks to buy
Amid ongoing tensions in the US-Iran war uncertainty, Sumeet Bagadia recommends five shares to buy on Friday, 5 June: Astra Microwave Products, Bliss GVS Pharma, MTAR Technologies, Honasa Consumer, and Krishna Institute Of Medical Sciencs.
1] Astra Microwave Products: Buy at ₹1377, Target ₹1480, Stop Loss ₹1313
Astra Microwave Products share price is trading around 1377, demonstrates a remarkably strong bullish continuation pattern on the daily chart, staging a powerful rally and testing its recent overhead highs with supportive volume. The stock is trading confidently well above its key 20, 50, 100, and 200-day exponential moving averages, confirming a robust and well-established underlying uptrend. Furthermore, the daily relative strength index is positioned near 70, indicating accelerating upward momentum and intense buying conviction. Backed by this highly constructive price action, the stock is well positioned to advance toward an upside target of 1480. To effectively manage downside risk, a strict stop loss should be maintained at 1313.
2] Bliss GVS Pharma: Buy at ₹456, Target ₹499, Stop Loss ₹430
Bliss GVS Pharma share price is currently trading at 456, demonstrating an exceptional parabolic breakout on the daily chart, surging to a fresh multi-year high of 456.20 with robust volume backing. This move marks a definitive vertical expansion, with the price action aggressively fanning out far above the 20, 50, 100, and 200-day EMA lines to confirm a highly potent, institutional-backed momentum phase. The RSI has reached an extended 83.38, signalling intense bullish strength that has entered deep overbought territory. This technical setup indicates the stock is in a dominant, high-velocity phase as it clears psychological resistance levels toward newer peaks. Maintain a strict stop loss at 430 to protect against sudden sharp volatility, aiming for a primary target of 499.
3] MTAR Technologies: Buy at ₹7755, Target ₹8450, Stop Loss ₹7310
MTAR Technologies share price is currently trading at 1089, demonstrates a strong bullish continuation pattern on the daily chart, staging a sharp recovery from its recent structural pullback with steady volume support. The stock is trading confidently well above its key 20, 50, 100, and 200-day exponential moving averages, confirming a robust and well-established underlying uptrend. Furthermore, the daily relative strength index is positioned near 63, indicating accelerating upward momentum and solid buying conviction. Backed by this highly constructive price action, the stock is well positioned to advance toward an upside target of 8450. To effectively manage downside risk, a strict stop loss should be maintained at 7310.
4] Honasa Consumer: Buy at ₹417, Target ₹450, Stop Loss ₹396
Honasa Consumer share price is currently trading at 1308, shows powerful upward velocity, constructing a textbook high-momentum breakout on the daily chart. Supported by a robust 2.35M volume surge, the stock has pushed past short-term consolidation boundaries, confirming intense buyer commitment. It trades smoothly above its 20, 50, 100, and 200-day EMAs, validating a strong structural trend where any minor dip is quickly absorbed. While the RSI near 73 indicates overbought conditions, in an active growth phase this signals severe bullish acceleration rather than exhaustion. This strong technical blueprint sets up a clean run toward the 450 target. Maintain a strict stop loss at 396.
5] Krishna Institute Of Medical Sciences: Buy at ₹765, Target ₹830, Stop Loss ₹725
Krishna Institute Of Medical Sciences share price is trading around 1858, reveals a strong structural turnaround on the daily chart, breaking out from its recent base with supportive trading volume. The price action has confidently cleared its key 20, 50, 100, and 200-day exponential moving averages, confirming a fresh medium-term bullish reversal as it begins to challenge the higher overhead resistances. Concurrently, the relative strength index is stable near 57, indicating steady upward velocity and renewed market commitment. Driven by this constructive pattern breakout, the asset is technically well aligned to target the 830 level. To guard against potential market fluctuations, a strict stop loss should be maintained at 725.
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.
