The Indian stock market traded flat on Friday amid mixed global cues, with the benchmark Nifty 50 holding above 25,400 level. The benchmark indices stabilised falling for two consecutive sessions amid profit booking.
The Sensex traded 34.35 points, or 0.04%, higher at 83,273.82, while the Nifty 50 was up 4.85 points, or 0.02%, at 25,410.15.
On the Nifty options front, Chandan Taparia, Head – Derivatives and Technicals, Wealth Management, MOFSL said that the maximum Call OI (Open Interest) is at 25,500 then 26,000 strike, while maximum Put OI is at 25,500 then 25,000 strike.
“Call writing is seen at 25,500 then 26,000 strike, while Put writing is seen at 25,500 then 25,000 strike. Option data suggests a broader trading range in between 25,000 to 25,800 zones, while an immediate range between 25,200 to 25,600 levels,” Taparia said.
Nifty 50 Outlook
Nifty 50 formed a bearish candle on the daily frame and closed near its lower band at 25,400 zones. Now, Taparia believes till Nifty 50 holds below 25,500 zones, it may see further profit booking decline towards 25,300 then 25,222, while on the upside hurdles are seen at 25,600 and 25,750 levels.
Bank Nifty Outlook
Bank Nifty index formed a small bearish candle on daily scale as selling pressure is seen at higher zones and relatively underperformed the broader market. Now till, Bank Nifty index holds below 57,000 zones, profit booking could be seen towards 56,500 then 56,250 levels, while on the upside, hurdle is seen at 57,000 then 57,250 zones.
Chandan Taparia has recommended three stocks to buy today, 4 July 2025. Taparia recommends buying UPL, Biocon and Central Depository Services (CDSL) shares today.
Stocks to buy
UPL | Buy | Target Price: ₹735 | Stop Loss: ₹660
UPL share price has given a range breakout on the daily chart with higher than average traded volumes to support the up move. The RSI indicator is rising which supports the up move, Taparia said.
He recommends buying UPL shares for a target price of ₹735 apiece, while maintaining a stop loss at ₹660 level.
Biocon | Buy | Target Price: ₹395 | Stop Loss: ₹360
Biocon share price has broken out of an ascending triangle on the daily chart with a surge in volumes visible. The MACD indicator is rising which confirms the bullish momentum, according to the MOFSL analyst.
He has a ‘Buy’ call on Biocon shares with a target price of ₹395 apiece, and a stop loss of ₹360.
CDSL | Buy | Target Price: ₹1,965 | Stop Loss: ₹1,725
CDSL share price is in an overall uptrend and is respecting its 20 DEMA with slight dips being bought into. The ADX line is rising which confirms the uptrend, Taparia said.
He has a ‘Buy’ rating and CDSL share price target of ₹1,965, with a stop loss of ₹1,725 level.
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.
