# Raja Venkatraman recommends two stocks for 3 July — retained record

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source: [news](https://highsignal.app/data/news) (news:india-mint-markets)  published 2026-07-03 00:30 ingested 2026-07-03 09:04

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Stock market recap: Indian equities saw healthy buying across segments, which drove the benchmarks, the Sensex and the Nifty 50, higher for the second consecutive session on Thursday, 2 July.
The Sensex ended at 77,502.12, rising 579 points, or 0.75%, while the Nifty 50 rose by 170 points, or 0.71%, to end at 24,175.70. The Nifty Midcap 100 index rose by 0.48%, while the Smallcap 100 index jumped 1.25%.
Over the last two sessions, the Sensex has climbed over 1,000 points, or 1.3%, while its NSE counterpart has risen by over 300 points, or 1.3%.
IT stocks hogged the limelight, with Infosys, Tech Mahindra, TCS, and HCL Tech among the top gainers in the Sensex index.
Two stocks to trade, recommended by NeoTrader’s Raja Venkatraman
ABSLAMC (current market price ₹1191.30)
- Why it’s recommended: Aditya Birla Sun Life AMC Ltd (ABSLAMC), founded in 1994, is a prominent Indian investment manager and joint venture between Aditya Birla Capital and Canada's Sun Life Financial. The stock has been in a steady upward trajectory in the last few days. After a slow and steady movement over the last few days the strong revival in sentiment buoyed by support from Cloud support. Long body candle with volume pushed prices above cloud region with some strong buying at lower levels. With Auto sector showing some spirited revival once again one can consider to go long.
- Key metrics:
- P/E: 116.77,
- 52-week high: ₹1224.35,
- Volume: 137.49K
- Technical analysis: Support at ₹1100, resistance at ₹1400.
- Risk factors: Market volatility, margin compression from regulatory fee caps, and intense competition in the mutual fund sector.
- Buy: above ₹1200.
- Stop loss: ₹1140.
- Target price: ₹1325 (2 Months)
MARICO (current market price ₹856.90)
- Why it’s recommended: Marico Ltd is an Indian multinational consumer goods company headquartered in Mumbai. Founded in 1990 by Harsh Mariwala, it is a leading player in global beauty and wellness. After some consolidation the counter has shown some promise from March 2026 as FMCG sector started reviving. The steady climb in prices with support from the market showing signs of recovery has seen a swift upside indicating some upward trajectory. One can now look for some trends to carry the prices higher.
- Key metrics:
- P/E Ratio: 57.26.94,
- 52-week high: ₹854.35,
- Volume: 1.25M.
- Technical analysis: Support at ₹800, resistance at ₹1,000.
- Risk factors: Raw Material Volatility & Commodity Risk and Crude Oil fluctuations.
- Buy : above ₹858
- Stop loss: ₹829
- Target price: ₹930 (2 Months)
How the stock market performed on Thursday
Indian equities outperformed broader Asian markets on Thursday, 2 July, as easing oil prices and a rebound in IT stocks cushioned sentiment against a global selloff in AI-driven shares.
The Nifty 50 rose 0.71% to 24,175.7, while the Sensex gained 0.75% to close at 77,502.12. In contrast, Asian peers slumped, with South Korea’s KOSPI plunging nearly 8% amid sharp corrections in tech-heavy markets.
There is a consensus India’s relative stability, supported by Brent crude slipping below $71 per barrel after progress in U.S.-Iran talks. IT stocks led sectoral gains, with the Nifty IT index up 4.6% on value-buying; TCS and Infosys rallied 4.3% and 5.6%, respectively. Banking names also advanced, with Dhanlaxmi Bank and J&K Bank climbing over 5% each on strong June-quarter growth. Broader indices remained firm, with small-caps rising 1.2% and mid-caps up 0.5%. Market breadth was positive, reflecting India’s resilience amid global volatility.
Outlook for trading
Strong undercurrent on Thursday helped the Nifty survive the volatility of the market and ensured that the rise sustained above critical resistance zones as the market was whipped around quite a bit. At the moment the global trends remain the key drivers of the sentiment. There really isn’t much by way of local news flow to contain the volatility induced.
A follow-through seen to the long body candle seen on Wednesday to close on the positive side ensured that the bullish vibes extended into the next day. Trading therefore was quite difficult thru the week and it would have been a wonder if one came out largely unscathed in the week. As one can see the Daily charts the prices have tread into strong supports and with the encouraging newsflow would look to seek help of at the current close and will need more tailwinds that can fuel more upside.
A sideways action had forced us to reconsider the trends as market had been struggling to show some revival. However, the lower levels seen at the start of the July series should see the selling tapering off . As the last few days have been showing a higher low, we can conclude that the bullish momentum is making a comeback. We should note that the supplies at higher level continues to test the confidence but the recovery that is emerging swiftly from lower levels is signalling that the recent highs will once again could be challenged. The attempts continue to emerge as the market tries to carve out a bullish possibility.
Nifty has managed to hold itself above the 24000 zone effectively that we have been mentioning and has graduated to move above 24200 that could now open door towards 24500 which acts as the next big hurdle as the immediate resistance for some bullish moves. With the Open Interest data clearly indicating a revival one should keep tracking a 30-minute range breakout on trading continues to be an important metric for creating some longs. One should keep looking at every dip as a buying opportunity.
As the charts highlighted yesterday, we have been tracking the median line above which Nifty has managed to close on the daily chart. Also, the Relative Strength Index has shown an intent to move higher which is supported by the Open Interest data that has now stepped to 24100. The breach mentioned earlier did happen indicating that the trends remain delicately poised.
The best approach is to continue to look at a 30-minute range breakout on Friday as we can consider to trade on either side as the trends still remain tentative where we expect some resistances to kick in.
While the trends in the indices are still developing there is plenty of action as far as the stocks are concerned. We should now restrain from entering short positions in the Nifty and as the recent move above 24000. One can maintain that, viewing any sustained move below 23800 would be a level as a clear sign that bullish conviction is waning. With Max Pain at 24100 the resistances have now moved to 24500, while open interest shows that the road ahead is more open.
Raja Venkatraman is co-founder, NeoTrader. His Sebi-registered research analyst registration no. is INH000016223.
Investments in securities are subject to market risks. Read all the related documents carefully before investing. Registration granted by Sebi and certification from NISM in no way guarantees performance of the intermediary or provide any assurance of returns to investors.
Disclaimer: The views and recommendations given in this article are those of individual analysts. These do not represent the views of Mint. We advise investors to check with certified experts before making any investment decisions.
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