Stock Market Analysis: Five Recommended Shares for 6 March 2026

Indian Stock Market Sees Strong Buying Interest on Thursday, March 5

The Indian stock market witnessed strong buying interest on Thursday, March 5, driven by short covering following the recent decline. The BSE Sensex surged 900 points, or 1.14%, to close at 80,015.90, while the Nifty 50 advanced 1.17% to settle at 24,765.90.

Nifty Outlook

The Nifty 50 opened with a gap-up at 24,615.95 and touched a low of 24,529.40 during the first half of the session. However, strong upward momentum emerged in the second half, pushing the index to an intraday high of 24,854.20. The index eventually ended the session 285.40 points higher around 24,765.90, gaining 1.17% over the previous close.

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Technical Analysis

According to Sumeet Bagadia, Executive Director at Choice Broking, the 24,900–24,950 range is expected to act as the immediate resistance zone, while strong support is placed around 24,600–24,650. The momentum indicator RSI is currently recovering from the oversold territory and stands at 37.55.

Derivatives Segment

Notable put writing was seen at the 24,600 strike, followed by 24,500, while aggressive call writing was observed at the 25,000 strike. Considering the ongoing geopolitical tensions, traders are advised to remain cautious around the key support and resistance levels mentioned above and avoid initiating fresh directional trades until a decisive breakout occurs on either side.

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Bank Nifty

The Bank Nifty index opened on a positive note with a gap-up of nearly 260 points, but remained volatile throughout the day, indicating uncertainty in market sentiment. The index eventually closed at 59,055.85, above the 100-day EMA, with an overall gain of 300.60 points, suggesting buying interest at lower levels.

Sumeet Bagadia's Stocks to Buy

Sumeet Bagadia recommends five shares to buy: Power Finance Corporation, Jammu and Kashmir Bank, Sarda Energy & Minerals, Bandhan Bank, and Hindalco Industries.

1. Power Finance Corporation: Buy at ₹413.6, Target ₹438, Stop Loss ₹397
2. Jammu and Kashmir Bank: Buy at ₹120.95, Target ₹130, Stop Loss ₹117.2
3. Sarda Energy & Minerals: Buy at ₹542.5, Target ₹578, Stop Loss ₹522