Motilal Oswal Analyst Suggests Three Stocks for Potential Investment on March 6, 2026

Indian Stock Market Expected to Open Lower on Friday

The Indian stock market is anticipated to open lower on Friday, influenced by weak global market cues and rising crude oil prices. The escalating US-Iran tensions have impacted sentiment, while concerns over higher inflation have stoked fears. The trends on the Gift Nifty indicate a gap-down opening for the frontline indices, Nifty 50 and Sensex, today.

Market Performance on Thursday

On Thursday, the Indian stock market rallied amid short-covering, snapping a three-session decline. The Nifty 50 closed above the 24,700 level, with a gain of 285.40 points, or 1.17%, to settle at 24,765.90. The Sensex surged 899.71 points, or 1.14%, to close at 80,015.90.

Read also: Treasury Yields Experience Largest Increase in Two Weeks Following Release of Labor Market Data

Nifty Options Front

On the Nifty options front, Chandan Taparia, Head of Derivatives & Technicals at Motilal Oswal Financial Services Ltd, noted that the maximum Call Open Interest (OI) is at 25,500 and 25,000 strike, while the maximum Put OI is at 24,000 and 24,500 strike.

Nifty 50 Outlook

The Nifty 50 index formed a bullish candle on the daily chart, indicating an improvement in short-term momentum. If the index manages to cross and hold above 24,850 zones, buying could be seen towards 25,000 and 25,200 zones. A hold below the same could lead to weakness towards 24,500 and 24,300 zones.

Read also: US-Iran Tensions Spark Uptick in Oil Prices Amid Global Market Decline

Bank Nifty Outlook

The Bank Nifty index gained 300.60 points, or 0.51%, to close at 59,055.85 on Thursday, forming a Doji pattern on the daily scale. The index needs to hold above 59,000 zones for a bounce towards 59,250 and 59,500 levels.

Stock Recommendations

Chandan Taparia has recommended three stocks to buy today:

• Multi Commodity Exchange of India (MCX): Buy, target price ₹2,730, stop loss ₹2,485
• Bharat Electronics (BEL): Buy, target price ₹495, stop loss ₹448
• Torrent Power: Buy, target price ₹1,585, stop loss ₹1,465