Buy calls for today: Stock recommendations for March 6, 2025 – The Times of India

Top stock market recommendations: According to Aakash K Hindocha, Deputy Vice President – WM Research, Nuvama Professional Clients Group, Indigo, Jindal Steel, and Medanta are the top buy calls for today. Here’s his view on Nifty, Bank Nifty and the top stock picks for March 6, 2025:
Index View: Nifty
Nifty gave a positive close after ending 10 consecutive sessions in red as the index was into an extreme oversold zone not seen in the past 5 years of trade. The index has gained over a percent for the first time in the last 4 weeks of trade. The index has taken support at its 61.8% retracement of its past 5 year rally. We maintain our neutral stance on the index due to this oversold structure and no confirmation on reversals yet on charts. Short covering opens up broadly only when Nifty closes above 22451.
Bank Nifty
After an inside bar formation on Tuesday, the index has given a breakout above its previous day’s high as well as a close above the same confirms that this move is likely to extend further. The point to watch for reversal on this index is seen at 48600 on a closing basis. Bank Nifty as well has taken support at its 61.8% retracement of its past 5 year rally and holding on to this, is likely to open up higher targets while for now, a 500-700 point rally awaits to be unfolded above 48600 closing.
INDIGO (BUY):
LCP: 4698.10
Stop Loss: 4480
Target: 5020
Charts of INDIGO have just given a breakout of its symmetrical triangle pattern which was in place for the past 6 months on daily and weekly charts, a squeezed move from lower high and higher low formation has helped the price push out of this breakout zone. Another 6-8% up move in a similar direction could be seen as initial targets of this pattern.
JINDAL STEEL (BUY):
LCP: 891.65
Stop Loss: 854
Target: 950
A 3-month falling trendline breakout was observed in Tuesday’s trading session with a flag formation on hourly and daily charts which could allow further thrust to Jindal Steel given the initial green flags seen on metal as a sector. Another 6-8% move in a similar direction appears to be unfolding on charts.
MEDANTA (BUY):
LCP: 1192.55
Stop Loss: 1158
Target: 1310
In a scenario wherein stocks and indices are anywhere between 6 month to 12 month lows, this chart is popping out at a 6 month high instead. Early signs of capital flows to the scrip are visible given the price action sustaining against the broader market selloff. With repeated higher low formation on daily charts, this could act as a tailwind for another 9-12% up move in a similar direction northwards.
Disclaimer: The opinions, analyses and recommendations expressed herein are those of brokerage and do not reflect the views of The Times of India. Always consult with a qualified investment advisor or financial planner before making any investment decisions.