Top Stocks to Buy Today: Stock Recommendations for July 4, 2025
By TOI Business Desk | July 4, 2025, 07:30 IST
As the Indian stock market navigates through a dynamic and complex macroeconomic environment, investors are keen to identify promising buying opportunities. The latest analysis from Bajaj Broking Research highlights a positive outlook for key indices including the Nifty and Bank Nifty and recommends select stocks poised for gains in the near term. Here is a detailed look at the market conditions and top stock picks for July 4, 2025. Market Overview
Nifty Index
The Nifty index has demonstrated notable resilience in recent weeks, sustaining an upward movement amid geopolitical challenges and economic uncertainties. On Monday’s trade, the index reached a nine-month peak at 25,669 points, followed by a period of consolidation within a 300-point range. This consolidation indicates some profit booking after a steady rally.
During the current week, the Nifty rebounded strongly from a support zone between 25,350 and 25,400 points. Maintaining this support on a closing basis is anticipated to facilitate a further pullback toward the 25,900 to 26,000 range in the coming sessions. Conversely, failure to hold the support could trigger a healthy retracement or consolidation, with the index likely to trade between 25,200 and 25,700 points.
An important technical indicator — the percentage of Nifty 500 stocks trading above their 200-day exponential moving average (EMA) — has surged to approximately 59%, up from below 10% in March 2025. Historically, such breadth improvements signal the transition from a narrow market rally to broader-based strength, often preluding sustained bull market phases. This positive internal market dynamic underpins medium- to long-term investor confidence.
Key positional support for Nifty lies between 25,000 and 25,200 points, a confluence of the 20-day EMA and prior resistance-now-support breakout levels.
Bank Nifty
Bank Nifty has consolidated near its all-time highs over the past month, unaffected by escalating global tensions that generally increase market volatility. The index has rallied roughly 18% over the last four months, and while some near-term consolidation is plausible, the overall trend remains bullish.
Based on recent breakout patterns, the Bank Nifty is expected to advance towards the 58,500 to 59,000 levels in the coming month. Investors should consider dips as buying opportunities, with crucial support levels identified around 55,500 to 56,000 points.
Top Stock Recommendations
- UPL Limited
- Buy Range: Rs 670-690
- Target Price: Rs 747
- Stop Loss: Rs 643
- Expected Return: Approx. 10% over 3 months
UPL has shown a robust rebound supported by its 100-day EMA, indicating strong technical momentum. The stock is on the verge of breaking above the May 2025 high of Rs 699, offering a fresh entry point. The weekly Relative Strength Index (RSI) has generated a buy signal, reinforcing the positive bias. The target price of Rs 747 corresponds to the 161.8% external retracement level of a prior decline, suggesting scope for meaningful upside.
- Chennai Petroleum Corporation Limited (CPCL)
- Buy Range: Rs 700-720
- Target Price: Rs 787
- Stop Loss: Rs 663
- Expected Return: Approx. 11% over 3 months
CPCL has recently broken out of a downward channel on the weekly chart, signaling renewed strength. The breakout is accompanied by strong trading volumes, and the recent consolidation base aligns with the 500-day EMA, further supporting a bullish stance. The weekly stochastic oscillator has issued a buy signal, and the projected target is Rs 787, which represents the 61.8% retracement of the previous decline from October 2024 to March 2025. Conclusion
Bajaj Broking Research’s latest report underscores the positive technical outlook for the Indian equity markets, especially within the Nifty and Bank Nifty indices. With key supports holding firm and market breadth strengthening, medium-term investors have grounds to remain optimistic. UPL and Chennai Petroleum Corporation stand out as attractive stock picks with well-defined entry ranges, stop losses, and upside targets.
As always, investors should conduct their own due diligence and consider their individual risk tolerance before making investment decisions.
Disclaimer: The views and stock recommendations expressed in this article are those of Bajaj Broking Research and do not necessarily reflect the opinions of The Times of India. Investors are advised to exercise caution and seek professional advice as needed.
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About the Author
The TOI Business Desk is a dedicated team committed to delivering timely and relevant business news from India and around the globe. Covering a broad spectrum of economic trends, market analysis, and industry developments, the desk aims to keep readers informed and better equipped to navigate the complexities of the financial world.