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Stock Market Recommendations: Hero MotoCorp and Tata Steel are the top stocks recommended by Mehul Kothari, DVP – Technical Research at Anand Rathi Shares for Jul 7, 2026. He also recommends buying Nippon India ETF Nifty IT (ITBEES).Hero MotoCorp: Bounce expected from long-term trend line supportBuy: Rs 5020 – Rs 4960 | Stop Loss: Rs 4650 | Target: Rs 5,600Hero MotoCorp is currently consolidating near the long-term uptrend line, which has been a strong support area over the past couple of years. Despite the recent correction, the stock continues to hold above this structural support, suggesting that the broader uptrend remains in place. Current consolidation near support provides a suitable risk-reward setup for a medium-term recovery.The overall technical structure remains constructive with prices continuing to hold around the Ichimoku Cloud, while the RSI has started to turn higher after a long correction and has crossed its moving average, indicating improving momentum.
A sustained move above the cloud could spark fresh buying interest and pave the way for a rally towards Rs 5,600.Tata Steel: Rebound hidden bullish divergence signalsBuy: Rs 191 – Rs 188 | Stop Loss: Rs 182 | Target: Rs 206Tata Steel has formed a hidden bullish divergence near the previous breakout zone, suggesting that the broader uptrend remains intact despite the recent corrective phase. The stock is currently receiving support around the 200-day simple moving average (SMA), which also coincides with a crucial demand zone, enhancing the potential for a bounce.
Momentum indicators have begun to improve, with the MACD slipping into extremely oversold territory, similar to levels seen in January 2025, as the stock witnessed a sharp recovery. This confluence of technical support and improving momentum suggests that the stock could attract fresh buying interest and move towards Rs 206 in the medium term.ITBEES: Recovery setup appears near long-term supportBuy: Rs 30.90 – Rs 30.00 | Stop Loss: Rs 28 | Target: Rs 36Nippon India ETF Nifty IT (ITBEES) is trading near a strong long-term support zone between Rs 30.00 and Rs 30.90, which has historically served as a key demand zone.
After a sharp correction from the highs, ETFs are showing signs of forming a base near this support, indicating that selling pressure is gradually subsiding.The broader technical setup is showing early signs of improvement, with the RSI rebounding from its oversold territory near 30, indicating improving momentum and positive divergence. The ETF is also settling near the lower end of the Ichimoku cloud, and a sustained move above the cloud could confirm a trend reversal, opening the door for a recovery towards Rs 36.Stock market report for the July 6, 2026 sessionBenchmark equity indices BSE Sensex and Nifty ended marginally lower on Tuesday as late-session profit-taking erased early gains amid weak signals from Asian markets.After opening on a strong note, the 30-share BSE Sensex gave up gains to settle 104.35 points, or 0.13%, at 78,180.72. The index rose during the session by up to 379.85 points, or 0.48%, to touch 78,664.92 points. The NSE Nifty also closed lower by 31.65 points, or 0.13%, at 24,398.70.
This decline came after both benchmark indices rose more than 2% over the previous four sessions, and ended Monday at their highest levels in more than two months.Among the Sensex components, Trent was the biggest loser, falling 12.42% after its June quarter revenue growth fell short of market expectations. Other major laggards included Adani Ports, Bharat Electronics, Larsen & Toubro, Reliance Industries and ICICI Bank.Losses in benchmark indices were partially offset by strength in IT stocks. HCL Technologies rose 3.08% ahead of its quarterly earnings announcement, while Tech Mahindra, Infosys and Tata Consultancy Services also advanced. TCS is scheduled to announce its June quarter results on Thursday, marking the start of earnings season for the Indian IT sector.Titan shares rose 2.62% after announcing a 41% year-on-year increase in June quarter revenue, supported by strong performance in its jewelry, watches and eyewear businesses. Eternal shares also rose by 2.12%.(Disclaimer: Recommendations and opinions regarding stock market, any other asset classes or personal finance management advice given by experts and analysts are their own. These opinions do not represent the views of The Times Of India.)