Intraday Stocks To Buy Today, 2nd July: Top Picks By Sumeet Bagadia For Profitable Trading On Wednesday

The Nifty showed strength following a brief lull, closing the previous session at 25,541.80, up 0.10%. With a 0.26% gain, Nifty Bank closed the session at 57,459.45. The India VIX closed at 12.52, down 2.01%, and is still trading below the psychological 15 threshold. A low level of volatility is reflected in this muted reading, which indicates that market players are more confident and less worried, which often encourages a continuous upward crawl in the market. As a result, following last week's strong rally, the markets began a consolidation phase, resulting in a turbulent and range-bound day. With the approaching Q1FY26 results amid lowering global tensions and optimism about a potential U.S. trade deal, domestic earnings growth will remain essential ahead.

Nifty Outlook Today

"Despite lacklustre momentum and falling volumes, the index appears slightly overextended from its 10-day EMA, indicating a healthy time-wise correction rather than any bearish reversal. With the index hovering near a key resistance band of 25,640-25,740, any interim dips are expected to be orderly and could serve as base-building opportunities. The ability of the Nifty to convert prior resistance into fresh support-especially above the 25,000 psychological level-reinforces the underlying bullish sentiment," said Dhupesh Dhameja, Derivatives Research Analyst, SAMCO Securities.

"As long as the index sustains above the 25,300 mark, a 'buy-on-dips' strategy remains favourable. Technically, the index continues to be well-supported by its short-term moving averages, and the Relative Strength Index (RSI) remaining comfortably above 60 signals persistent momentum. With India VIX on a downward trajectory, the broader structure continues to favour the bulls, and a breakout beyond 25,750 could act as a fresh trigger for the next leg of the rally," said Dhupesh Dhameja.

Bank Nifty Outlook Today

"As Nifty Bank trades near its record highs, enthusiasm in terms of volume and momentum remains relatively contained, suggesting a maturing rally rather than weakness. The current price action, slightly stretched from the 10-day EMA, is indicative of a time-based consolidation rather than a price correction. The immediate hurdle lies between 57,500 and 57,600, where some supply pressure is evident. However, declines are expected to be orderly and may serve as a platform for the next leg up," Dhupesh Dhameja stated.

"Importantly, the index continues to hold above the crucial psychological level of 57,000 and its recent breakout zone, reinforcing the bullish undertone. As long as Nifty Bank sustains above the short-term support of 57,200, the outlook remains positive. Any pullback should be viewed as an opportunity to initiate or add to long positions. Technically, the index remains well above its key moving averages, and the RSI holding firm above the 60 level supports the view of sustained momentum," Dhupesh Dhameja added.

"In a trending market, such brief consolidations are often precursors to continued upside moves. The broader trajectory remains intact, and the current range-bound movement is likely to be a pit stop in the ongoing bullish drive," commented Dhupesh Dhameja.

Stocks To Buy Today

Sumeet Bagadia, executive director of Choice Broking, recommended buying two stocks on Wednesday, July 2, following the Nifty's ultimate settlement around the 25550 level.

Technocraft Industries (India)

Buy TIIL in cash @ Rs 3199.9, Stop-loss @ Rs 3080, Target @ Rs 3410

TIIL is currently positioned at 3199.9 levels, witnessed a sharp rally on Tuesday. The price action marks a decisive breakout above the short-term consolidation zone, with increased volumes supporting the bullish move.

This rally reflects fresh buying interest as the stock crossed major resistance near ₹3150 levels convincingly. The stock has successfully absorbed earlier supply zones and is now moving in a higher high-higher low structure, a classic signal of bullish continuation.

The recent price action has shown resilience and strong follow-through, especially after reclaiming the ₹3,000 level, which acted as psychological resistance. On Tuesday, the stock made a strong high of ₹3228 and sustained gains throughout the session, indicating robust buyer control.

Given the momentum, TIIL looks poised to test higher levels in the coming sessions. Any minor dips may find strong support near the 20 EMA, which can act as an accumulation zone for traders.

Reinforcing the positive sentiment, the Relative Strength Index (RSI) comfortably rests at 64.37 levels. Investors may a good opportunity for swing traders with a short-term target of ₹3410+ in mind, and a strict stop-loss under ₹3080.

Amber Enterprises India

Buy AMBER in Cash @ Rs 7083, Stop-loss @ Rs 6800, Target @ Rs 7550

AMBER, is currently trading at 7083, exhibits a strong uptrend, supported by its consistent position above key exponential moving averages (EMAs). Recent price action indicates a consolidation phase and showing strong signs of an impending breakout from its consolidation phase, and the technical indicators are aligning for a potential fresh upside rally., with the stock maintaining levels near the 20-Day and 50-Day EMA.

This setup suggests the potential for continued upward movement. With the stock positioned above its short-, medium-, and long-term EMAs, bullish momentum appears well-supported. If this trend continues, AMBER could reach a short-term target of 7550.

On the downside, immediate support is located at 6900. The Relative Strength Index (RSI) is currently at 65.03 and trending upward, reflecting growing buying momentum. To manage risk effectively, a stop-loss at 6800 is suggested to guard against any unexpected market reversals.

In conclusion, based on the technical analysis and current market conditions, AMBER presents a promising buying opportunity for those aiming for a 7550 target, provided that appropriate risk management strategies are in place.

Disclaimer

The recommendations made above are by market analysts and are not advised by either the author, nor Greynium Information Technologies. The author, nor the brokerage firm nor Greynium would be liable for any losses caused as a result of decisions based on this write-up. Goodreturns.in advises users to consult with certified experts before making any investment decision.