Market expert Raja Venkatraman from NeoTrader has identified three stocks for trading on June 4, 2026, as reported by Mint. The recommendations come amid challenging market conditions, with Indian equity markets ending Wednesday on a cautious note as the Nifty 50 settled at 23,405.60, down 0.33%. According to Mint, the market sentiment was weighed down by heightened geopolitical tensions in West Asia, where Iranian missile attacks targeting Bahrain and Kuwait added to regional instability and pushed Brent crude futures toward $97 per barrel. The rise in energy prices, combined with persistent FII outflows and a weakening rupee trading above 95 per US dollar, kept investor sentiment under pressure. Market breadth skewed negative, with 1,915 declines against 1,379 advances, further dragged by a sharp 5.57% fall in the IT sector.
Laxmi Organic Industries Ltd (current market price ₹164.55) is recommended as a specialty chemicals manufacturer supplying essential raw materials to pharmaceutical, agrochemical, and packaging industries across more than 30 countries. As reported by Mint, the stock had been recommended earlier and continues to perform robustly with a P/E ratio of 57.71 and 52-week high of ₹240.60. The technical analysis shows support at ₹150 and resistance at ₹195, with Venkatraman recommending a buy above ₹165 with a stop loss at ₹155 and target price of ₹189 for a 2-month period.
IIFL Ltd (current market price ₹498.80) is positioned as one of India's leading diversified non-banking financial companies focusing on gold loans, home loans, microfinance, and corporate MSME lending. According to Mint, the stock fell sharply after last quarter numbers but has shown recovery since April 2026, forming a rounding pattern with a P/E ratio of 18.36 and 52-week high of ₹674.95. The technical outlook shows support at ₹430 and resistance at ₹600, with Venkatraman recommending a buy above ₹500 with a stop loss at ₹478 and target price of ₹550 for a 2-month period.
Jindal SAW Ltd (current market price ₹250.85) is recommended as a leading global manufacturer of iron and steel pipe products and pellets, with the stock managing to survive constant volatility while taking advantage of sector tailwinds. As reported by Mint, the stock has shown strong pullbacks into technical support lines and fresh revival in Relative Strength Index (RSI), with a P/E ratio of 20.42 and 52-week high of ₹260.20. The technical analysis indicates support at ₹230 and resistance at ₹290, with Venkatraman recommending a buy above ₹253 with a stop loss at ₹240 and target price of ₹280 for a 2-month period.
Despite broader market weakness, the Bank Nifty demonstrated notable resilience, closing at 54,185.95, up 471.30 points (0.88%). After slipping to an intraday low of 53,027.15 in morning trade, the banking benchmark staged a sharp rebound to reclaim and move above its previous close of 53,714.65. The recovery was driven largely by PSU banking stocks, which attracted strong buying interest and acted as the key engine of gains within the financial space. Federal Bank led the advance with a 3.19% rise, supported by gains in major state-owned lenders such as Union Bank and State Bank of India (SBI). In contrast, IndusInd Bank lagged, falling 1.44%. The swift rebound from key psychological levels highlights sustained accumulation across both PSU and private banking heavyweights, suggesting underlying confidence despite recent volatility.
