# Stock recommendations for 2 July from MarketSmith India — retained record > Retained news record from news:india-mint-markets. Canonical: https://highsignal.app/data/records/f7d449db15099926 [← sources](https://highsignal.app/data) source: [news](https://highsignal.app/data/news) (news:india-mint-markets) published 2026-07-02 00:30 ingested 2026-07-02 08:55 [original source ↗](https://www.livemint.com/market/stock-market-news/stock-recommendations-for-2-july-from-marketsmith-india-11782920710313.html) ## retained text ``` Stock market update: Domestic equity benchmarks snapped a two-day losing streak on Wednesday, registering healthy gains amid supportive global cues and a slight cooling in Brent crude prices. Reclaiming psychological thresholds, Sensex rallied 444 points, or 0.58%, to settle at 76,922.64, while Nifty 50 climbed 140.10 points, or 0.59%, to close above the pivotal mark at 24,005.85. Market breadth remained positively, with 1,852 stocks advancing against 1,473 stocks declining, reflecting steady accumulation across mid- and small-cap segments. Sectoral momentum was driven primarily by a notable surge in the reality space and selective buying in defensive segments such as Pharma, while the Auto sector gained strength from robust June sales data. Conversely, the heavyweight IT sector remained under pressure, limiting gains in the broader frontline indices. Macroeconomically, sentiment was underpinned by overnight gains on Wall Street and stabilizg crude oil dynamics despite lingering geopolitical cues in West Asia. Two stock recommendations by MarketSmith India: Buy: Skipper Limited (current price: ₹559) - Why it’s recommended: Strong presence in power T&D products, beneficiary of power infrastructure growth, diversified engineering business, strong order book visibility, expansion in domestic and export markets, beneficiary of government capex, integrated manufacturing facilities, growing export opportunities, improving operating margins, strong execution capabilities, diversified customer base, capacity expansion supporting growth, beneficiary of renewable energy investments, long-term infrastructure demand, and improving return ratios. - Key metrics: P/E: 27.92, 52-week high: ₹588.00, volume: ₹44.57 crore - Technical analysis: Cup-with-handle breakout - Risk factors: Dependence on infrastructure spending, order execution delays, raw material price volatility, working capital intensive business, margin pressure from input costs, competition in EPC and engineering, project-based revenue volatility, regulatory and policy risks, export demand fluctuations, customer payment delays, high capital expenditure requirements, economic slowdown affecting capex, supply chain disruptions, interest rate and financing risks, and valuation risk during order slowdown. - Buy: ₹553–562 - Target price: ₹670 in two to three months - Stop loss: ₹520 Buy: Omnitech Engineering Limited (current price: ₹569) - Why it’s recommended: Strong precision engineering capabilities, high-precision OEM component manufacturer, diversified industrial end markets, strong export-oriented business, global customer base, presence in energy and automation sectors, healthy revenue growth potential, capacity expansion opportunities, focus on value-added products, strong manufacturing infrastructure, beneficiary of industrial capex growth, increasing automation demand, long-term engineering sector tailwinds, scalable business model, and strong promoter holding. - Key metrics: P/E: NA, 52-week high: ₹590.10, volume: ₹89.15 crore - Technical analysis: Trendline Breakout - Risk factors: Dependence on industrial demand cycles, customer concentration risk, export market volatility, raw material price fluctuations, margin pressure from competition, working capital-intensive operations, project execution risks, dependence on global economic conditions, supply chain disruptions, forex fluctuation impact, high capital expenditure needs, technology upgradation requirements, order inflow volatility, valuation risk after IPO, and limited listed operating history. - Buy at: ₹563–572 - Target price: ₹645 in two to three months - Stop loss: ₹540 How the Benchmark Index Performed Indian equities rebounded, snapping a two-session losing streak, with benchmark indices ending firmly in positive territory amid supportive global cues, easing crude oil prices, and strong buying in domestic consumption and financial stocks. Nifty 50 closed at 24,005.85, up 140.10 points (+0.59%), after trading in a range of 23,895.10–24,049.90, while Sensex also finished higher. Sectoral performance was broadly positive, led by Realty (+3.58%), FMCG (+2.08%), Media (+2.07%), Auto (+1.15%), PSU Bank (+0.99%), and Private Bank (+0.89%), reflecting improved risk appetite. However, IT (-2.01%) remained the key laggard amid continued weakness in technology stocks, while Metal (-0.99%), Pharma (-0.57%), and Healthcare (-0.49%) also ended lower. Market breadth was encouraging, with the advance-decline ratio favoring bulls as 1,852 stocks advanced against 1,473 declines, while 100 stocks remained unchanged, indicating broad-based participation beyond the benchmark indices. Nifty 50 ended the session on a positive note, forming a bullish candlestick, reflecting renewed buying interest after recent consolidation. Despite the day's gains, the index has remained confined between its 50- and 100-DMA for the past 12 trading sessions, underscoring a prolonged phase of consolidation in which neither the bulls nor the bears have been able to establish a clear directional advantage. The Relative Strength Index (RSI) is placed at 55, remaining above the neutral 50 mark but turning slightly lower, indicating a moderation in positive momentum without signaling a strong directional bias. Meanwhile, the MACD remains above its signal line and in positive territory, although the histogram has begun to flatten, suggesting that bullish momentum is gradually losing strength. The index continued to consolidate within the 50- and 100-DMA range. From a technical perspective, the index remains positioned above a key downward-sloping trendline, indicating that the broader recovery structure remains intact despite ongoing consolidation. 23,800–23,650 remains a crucial area to monitor, as sustained trading above this band would reinforce the prevailing positive bias and reduce the risk of a deeper corrective move. On the upside, a decisive close above the 100-DMA, currently placed near 24,200, would be a significant technical development, signaling renewed buying interest and strengthening the case for a continuation of the recovery trend. Such a breakout could pave the way for an advance toward 24,350–24,600 over the near term, supported by improving momentum indicators and a gradually strengthening market structure. How did Nifty Bank Perform? Nifty Bank opened on a positive note at 57,573.35 and witnessed buying interest throughout the session. The index touched an intraday high of 58,134.15, slipped to an intraday low of 57,487.85, and finally settled at 58,033.05, gaining 490.15 points (+0.85%). Although the index briefly retreated from the day's high due to mild profit booking, it managed to hold comfortably above its opening level, reflecting sustained buying interest. Technically, the index continues to trade above the 10-, 21-, 50-, and 100-DMA, while reclaiming the 200-DMA, indicating an improving medium-term trend. The recent breakout above the 200-DMA, followed by a successful retest, suggests a constructive bullish setup, with dips continuing to attract buying interest. The RSI is placed at 63.22, remaining above the neutral 50 mark and indicating strengthening bullish momentum without entering the overbought zone. The RSI has eased marginally from higher levels but continues to reflect healthy underlying strength. Meanwhile, the MACD remains in positive territory, with the MACD line staying above the signal line despite the histogram narrowing, suggesting that bullish momentum is intact but has moderated slightly after the recent rally. Overall, the momentum indicators continue to support the prevailing uptrend, although some near-term consolidation cannot be ruled out before the next directional move. Sustained strength above key moving averages keeps the broader technical outlook favourable. On the downside, immediate support is placed at 57,800, followed by the 200-DMA near 57,180. A stronger support zone is seen around 56,450–56,350, where the 21- and 100-DMA are positioned. On the upside, immediate resistance is placed at 58,150–58,200, while a decisive breakout above this zone could open the path toward 58,500–59,000 in the coming sessions. The technical structure remains positive with the index continuing to form higher-highs and higher-lows after reclaiming the 200-DMA. Supportive domestic liquidity, stable banking fundamentals, and improving market sentiment could continue to underpin the banking index, although investors may remain watchful of global cues and upcoming macroeconomic events that could influence short-term volatility. MarketSmith India is a stock research platform and advisory service focused on the Indian stock market. It offers tools and resources to help investors make informed decisions based on the CAN SLIM methodology, founded by legendary investor William J. O'Neil. You can access a 10-day free trial by registering on its website. Trade name: William O’Neil India Pvt. Ltd. Sebi Registration No.: INH000015543 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. ``` document fetched 2026-07-02 08:55 · canonical https://livemint.com/market/stock-market-news/stock-recommendations-for-2-july-from-marketsmith-india-11782920710313.html