Motilal Oswal Analyst Recommends Three Stocks for Purchase on April 6, 2026

Indian Stock Market Remains Volatile Amid Escalating US-Iran War

The Indian stock market is expected to experience continued volatility on Monday due to the ongoing US-Iran conflict in the Middle East, which has led to a surge in crude oil prices. Despite this, the market staged a strong recovery in the previous session, with the benchmark Nifty 50 closing above the 22,700 level.

In the previous session, the stock market recorded a significant gain, with the Sensex ending 185.23 points, or 0.25%, higher at 73,319.55. The Nifty 50 also settled up 33.70 points, or 0.15%, at 22,713.10. This recovery was a welcome respite for investors, who have been struggling with the negative sentiment caused by the rising oil prices.

Nifty 50 Outlook

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According to Chandan Taparia, Head Derivatives & Technicals at Wealth Management, Motilal Oswal Financial Services Ltd, the Nifty 50 index formed a bullish candle on the daily frame, indicating buying at support levels. On the weekly frame, the index formed a small-bodied bullish candle but is still making lower highs from the last seven weeks. For a bounce towards 22,950 then 23,150 zones, the Nifty 50 needs to hold above 22,650 zones, while support can be seen at 22,500 then 22,350 zones.

Bank Nifty Outlook

The Bank Nifty index formed a small bullish candle on the daily scale as buying interest is visible at lower levels, but multiple hurdles are intact at higher zones. On the weekly scale, the index formed a Doji candle with long shadows as buying is seen at lower zones but selling pressure is intact at higher levels. For a bounce towards 52,000 then 52,500 zones, the Bank Nifty needs to hold above 51,250 zones, while a hold below the same could see some weakness towards 50,750 then 50,500 levels.

Stocks to Buy

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Chandan Taparia has recommended three stocks to buy today: Tech Mahindra, Adani Power, and Marico.

These stocks have been chosen based on their technical analysis. Tech Mahindra has formed a "Rounding Bottom" pattern in the daily chart, suggesting an up move. Adani Power has broken out from a consolidation zone with a strong-bodied bullish candle and high traded volumes. Marico has bounced up from its major support zones with a massive bullish candle and a surge in traded volumes.