Stocks to buy: Raja Venkatraman recommends three stocks for 6 March
The volatile market scenario continues to keep everyone guessing. With the war showing no signs of receding, one needs to tread these waters carefully.Buy above ₹318, stop ₹303, target ₹348 (Multiday)Buy above ₹5590, stop ₹5390 target, ₹5995 (Multiday)Buy above ₹2555, stop ₹2450, target ₹2775 (Multiday)Why it’s recommended: The Multi Commodity Exchange of India Limited (MCX), is India's leading commodity derivatives exchange with over 60% market share. It provides a national-level, regulated electronic platform for trading futures and options in commodities such as gold, silver, crude oil, and natural gas.
After some steady profit booking in January, prices slipped into consolidation and garnered support from the cloud region to stage a revival. A steady buying at lower levels clearly indicated investors bought on dips.On 5 March, Indian equity markets staged a sharp rebound, snapping a three-day losing streak. The Sensex surged 900 points, or 1.14%, to close at 80,015, while the Nifty advanced 285 points, or 1.17%, to settle at 24,765.
The rally was broad-based, led by strong buying in metals, infrastructure, energy, and auto stocks, with volatility cooling significantly. Market breadth remained positive, as 2,645 shares gained against 1,426 declines.Adani Ports topped the Nifty chart with a rise of over 4.5%, followed by Larsen & Toubro at nearly 4%. Hindalco, NTPC, and Reliance Industries also posted gains above 3%.
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