Intraday Stocks To Buy Today, 4th July: Top Picks By Sumeet Bagadia For Profitable Trading On Friday

The index showed usual low-volume and volatility characteristics, mostly contained inside its prior trading range, even though it was a weekly expiry session, the day saw a 0.19% loss in Nifty, closing at 25,405.30, and a 0.36% decline in Nifty Bank, closing at 56,791.95. The India VIX closed at 12.38, 0.48% lower than its psychological peak of 15. A calm and steady up-move is usually supported by market confidence and the lack of worry, which are reflected in the volatility's continued low level. Investor optimism is still on edge amid the weakening U.S. dollar index, and the Q1 earnings season approaches.

Nifty Outlook Today

"Early signs of fatigue have started to show as the index struggles to maintain gains at higher levels. Despite several intraday attempts, consistent selling pressure was evident. Still, with the index comfortably trading above its 10- and 20-EMA levels, this appears to be a healthy pause rather than a negative reversal. As the index nears its decisive zone around 25,300 and faces ongoing overhead supply near 25,500-25,600, any upward bounce may be used by traders to build short positions-indicating a likely consolidation phase," said Dhupesh Dhameja, Derivatives Research Analyst, SAMCO Securities.

"A decisive breakout on either side will define the trend for the upcoming weekly series. The broader bias remains neutral to mildly bearish. Unless the index convincingly crosses 25,600, the approach of selling on rallies remains prudent. The RSI, hovering near 59, suggests weakening bullish momentum and reinforces the current sideways sentiment. Only a breakout above 25,600 has the potential to usher in the next leg of the rally toward the 26,000 level," the analyst further added.

Bank Nifty Outlook Today

"The index has started showing initial signs of short-term fatigue, closing below its 10-day EMA for the first time after a decent up move. This breach of support could trigger faster liquidation by bulls and embolden sellers. Resistance remains stiff in the 57,300-57,350 range, where supply continues to overwhelm buyers. Now that the index has slipped below its critical support of 56,800-57,000, and persistent daily closes remain under prior highs, it indicates a transition into a bearish-to-sideways bias," Dhupesh Dhameja stated.

"Traders are likely to treat every rise as a shorting opportunity unless the index reclaims its resistance belt decisively. As long as Nifty Bank holds below 57,300, a "sell-on-rise" strategy remains favourable. Technically, the index is showing weakening momentum, and with RSI dipping below 60, bullish strength appears to be fading. A fresh leg of selling could emerge if the index slips below 56,750, dragging it toward 56,300 in the near term. This environment remains tactical-requiring a defensive approach until a clear breakout confirms a shift in trend," Dhupesh Dhameja highlighted.

Stocks To Buy Today

Following the Nifty's continued strong hold above all of its short-term moving averages, including the 9-day and 20-day EMAs, which provide a cushion and reflect underlying demand, Choice Broking's executive director, Sumeet Bagadia, recommended buying two stocks on Friday, July 4.

Privi Speciality Chemicals

Buy PRIVISCL in Cash @ Rs 2520.3, Stop-loss @ Rs 2430, Target @ Rs 2700

PRIVISCL, is currently trading at 2520.3, registered a sharp upward movement in today's session. The stock witnessed a decisive breakout above the short-term consolidation range and posted one of the strongest daily closings in recent weeks. With fresh bullish energy, supported by robust volume and strong technical structure, the stock is signalling continuation of its uptrend.

After multiple attempts to cross the ₹2,500 zone in recent sessions, today's breakout with strong volume participation confirms bullish control. The price action shows a textbook breakout from a sideways consolidation range

One can look for entries on minor dips towards ₹2,500. On the downside, immediate support is located at 2450. The Relative Strength Index (RSI) is currently at 64.03 and trending upward, reflecting growing buying momentum.

To manage risk effectively, a stop-loss at 2430 is suggested to guard against any unexpected market reversals.

In conclusion, based on the technical analysis and current market conditions, PRIVISCL presents a promising buying opportunity for those aiming for a 2700 target, provided that appropriate risk management strategies are in place.

Shriram Pistons & Rings

Buy SHRIPISTON in cash @ Rs 2581.8, Stop-loss: Rs 2490, Target: Rs 2765

SHRIPISTON has delivered a notable upside move in the latest trading session, showcases a strong bullish momentum. This move marks a clear breakout from recent consolidation, reinforcing bullish sentiment across midcap counters. After witnessing a brief sideways phase in the ₹2,323-₹2,525 zone, the stock has broken out on the higher side, signalling a fresh round of buying interest.

This breakout was backed by strong price action, confirming higher highs and higher lows structure. A bullish Marubozu-type candle suggests strong closing strength and minimal intraday profit booking. This shows conviction in the move and increases the likelihood of follow-through in upcoming sessions.

Momentum oscillators like RSI and MACD are likely in bullish zones given the sharp rally and volume behaviour. Price is riding the upper Bollinger Band, reflecting strong trend intensity and characteristics of a sustained uptrend. Traders and investors may find this analysis indicative of potential continued upward momentum in the stock.

Based on the above analysis we recommend buying SHRIPISTON in cash at CMP of 2581.8 for the target of 2765 with a stop loss of 2490.

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.