From Axis Bank to Bajaj Auto - Chandan Taparia recommends these four stocks to buy on June 4

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Indian stock market: On June 3, Sensex and Nifty 50 experienced notable gains not witnessed since January 2021. Investors displayed widespread buying activity across various sectors, departing from the cautious trading seen in the previous month. This surge in market momentum followed exit polls suggesting that the Lok Sabha election results might align with market projections, thereby bolstering investor confidence.Both indices reached new all-time highs, surging nearly 4 per cent each during the session.

Both indexes closed at record highs, marking more than 3 per cent gains each.Also read: Wall Street today: US stocks mixed after weak factory activity data, megacaps lift Nasdaq higher“Nifty index started the day with the highest gap of around 800 points in the last four years. It touched a fresh all-time high of 23338 in its opening tick and remained positive to range bound for the rest of the session. It formed a small-bodied candle on the daily frame with a longer lower shadow, indicating swift buying at any small declines.

It closed with gains of around 730 points and negated its lower highs formation of the last four sessions. Now, it has to hold above 23110 zones for an upside move towards 23500, then 23700 zones. In contrast, supports are placed at 23000 then 22795 zones," said Chandan Taparia, Head – Equity Derivatives and Technicals, Broking and Distribution, MOFSL.India's VIX crashed by 14.87% from 24.60 to 20.94 levels.