The Indian stock market’s benchmark indices — Sensex and Nifty — ended with modest gains in a volatile session on Friday, as investors continued to track progress in the India-US trade deal ahead of the approaching tariff deadline on July 9.
The Nifty 50 rose 0.22% to 25,461, and the BSE Sensex added 0.23% to 83,432.89. Both benchmarks lost about 0.7% this week amid valuation concerns and caution ahead of the trade deal.
The broader market underperformed with Nifty Midcap100 and Smallcap100 indices ending on a flat note.
The Indian stock market sentiment has improved as the Nifty 50 index bounced back from 25,350-25,300 range and ended close to 25,450 levels, said Sumeet Bagadia, Executive Director at Choice Broking.
“The key benchmark index is facing a hurdle at the 25,550 to 25,600 range. On breaking above this resistance on a closing basis, the 50-stock index may soon touch 25,700 and 26,200. So, one should maintain a stock-specific approach and look at those stocks that are looking strong on the technical chart,” he advised.
Sumeet Bagadia has recommended three stocks to buy on Monday, July 7 2025. The three stock picks by Bagadia are Wipro, ICICI Bank and Hindustan Unilever shares.
Here are the three stocks to buy on Monday:
Wipro is currently trading at ₹270.05 and has recently displayed a notable reversal after witnessing a steep decline of nearly 30% from its positional high. The stock has started forming a sequence of higher highs and higher lows on the daily timeframe—a classic sign of a bullish trend reversal, suggesting renewed buying interest emerging from the lower levels.
Following a brief phase of retracement, the stock has resumed its upward trajectory, indicating that the bulls are regaining control. The recent price action reflects a gradual strengthening of momentum, with Wipro now comfortably holding above all key moving averages—short-term, medium-term, and long-term EMAs—signalling a positive alignment across multiple timeframes.
The Relative Strength Index (RSI) currently stands at 65.87, showing a positive crossover and trending upwards, further validating the strength behind the ongoing recovery and highlighting improving bullish momentum.
From a technical perspective, a sustained move above the ₹275 mark could act as a breakout trigger, paving the way for further upside potential. If this breakout materializes, the stock may advance toward the next key resistance level near ₹295 in the short to medium term.
Given the strengthening structure, positive momentum indicators, and supportive volume behaviour, traders may consider buying Wipro at the current market price of ₹270.05, with a stop-loss placed at ₹258 to manage downside risk. A successful breakout above ₹275 could open the path for a move toward ₹295, offering an attractive risk-reward setup for positional trading.
ICICI Bank is currently trading at ₹1,442.80 and remains firmly positioned in a long-term uptrend, consistently respecting the boundaries of a rising parallel channel over the past several months. This price behaviour reflects sustained bullish sentiment and strong structural integrity.
Recently, the stock rebounded from the lower band of the channel, showcasing resilience and reasserting buying interest at key demand zones. Following this rebound, ICICI Bank entered a consolidation phase near its record-high levels, suggesting healthy digestion of prior gains and preparation for a potential next leg higher.
After marking its recent high, the stock witnessed a measured retracement back into a demand zone, where it is now exhibiting signs of a technical reversal—a bullish signal pointing to renewed accumulation at lower levels.
The Relative Strength Index (RSI) is currently at 54.19, displaying an upward trajectory post a positive crossover, indicating improving momentum and increasing bullish strength. Moreover, the stock is hovering slightly above its short-term and medium-term EMAs, maintaining a favourable alignment that supports further upside potential.
From a technical perspective, a sustained move above ₹1,465 could act as a breakout trigger and may propel ICICI Bank toward new highs, with ₹1,560 as the next key upside target.
Given the long-term channel structure, positive momentum signals, and emerging strength from demand zones, traders may consider buying ICICI Bank at the current market price of ₹1,442.80, with a stop-loss at ₹1,385 to manage downside risk. A successful breakout above ₹1,465 could unlock further upside, offering a compelling risk-reward opportunity for positional traders.
Hindustan Unilever (HUL) is currently trading at ₹2,339.30 and has been consolidating near its lower range following a significant correction of nearly 30% from its peak. Over the past few weeks, the stock has exhibited sideways movement, suggesting base-building activity at lower levels.
Recently, HUL has shown a bounce from these lower zones, indicating early signs of a potential trend reversal. The ongoing price action reflects a gradual recovery, supported by improving sentiment and early accumulation by market participants.
Technically, the stock has crossed above its short-term and medium-term EMAs, and is now approaching its long-term EMA. A sustained move above the ₹2,380 mark—which coincides with key resistance and the long-term average—could act as a breakout confirmation, paving the way for further upside toward the ₹2,500 level in the near term.
The Relative Strength Index (RSI) is currently at 54.76, trending upward and reflecting building momentum, which aligns well with the emerging bullish structure.
Given the improving technical outlook and signs of reversal, traders may consider buying HUL at the current market price of ₹2,339.30, with a stop-loss at ₹2,255 to manage downside risk. A decisive breakout above ₹2,380 could unlock further upside potential, with ₹2,500 as the next logical target—offering a favourable risk-reward opportunity for positional traders.
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.