Strategies for Trading: Key Stock Picks for March 6, 2024

In an insightful look into the stock market, market analysts have pinpointed 20 significant stocks to watch closely on Wednesday, March 6, 2024. These selections are made based on meticulous research and encompass a myriad of sectors and potential trading strategies.

Analyst Picks by Kushal Gupta

Kushal Gupta has recommended a buy strategy for Bank of Maharashtra shares, projecting a target price of Rs 66 and advising a stop loss at Rs 62. Gupta also sees potential in ICICI Prudential futures, suggesting a buy for a target of Rs 570 with a stop loss at Rs 547. Infosys also makes the list with the recommendation to buy the Rs 1,600 call option at Rs 45, aiming for a Rs 70 target and placing a stop loss at Rs 30.

For those interested in shorter-term plays, Gupta recommends a sell strategy on Bajaj Finance futures, with a target price of Rs 6,180 and a stop loss of Rs 6,420. Other picks include Manappuram Finance shares for a buy with a target of Rs 194 and a stop loss at Rs 184, and an investment idea to buy ICICI Bank shares with a one-year target of Rs 1,300. Gupta also identifies REC as a news-based pick, recommending a buy for a target of Rs 480 with a stop loss set at Rs 460.

My Choice Selections

Further insights lead to a definite sell suggestion on MCX futures targeting Rs 3,500 with a stop loss at Rs 3,650. On the flip side, Gupta suggests buying Coal India shares for a target of Rs 475 with a stop loss at Rs 457 and a similar buy strategy on Bharti Airtel shares aiming for Rs 1,200 with a stop loss at Rs 1,160.

Analyst Picks by Varun Dubey

Varun Dubey, another market analyst, echoes the sentiment of strategic trading with specific picks like Aavas Financiers in the cash segment suggesting a buy for a target price of Rs 1,410 and a stop loss at Rs 1,330. Dubey's view on Havells India futures is also favorable, recommending a buy for a target of Rs 1,600 with a stop loss at Rs 1,520.

Dubey's approach includes trading options, such as buying the Rs 1,560 put option of Mahanagar Gas Ltd for a prospective target of Rs 55 with a decisive stop loss at Rs 37. SBFC Finance shares get a nod for buying with a target of Rs 95 and stop loss at Rs 90, while Bharat Dynamics shares are seen as a fundamental pick to buy with a target of Rs 1,890 and a stop loss at Rs 1,760.

From an investment perspective, Dubey recommends buying Nippon Life India Asset Management shares with a one-year target of Rs 600 and Centum Electronics shares for a target of Rs 1,940 with a stop loss of Rs 1,830 as a news-based pick.

My Choice Selections

Dubey's 'My Choice' picks include a bullish outlook on buying Zomato shares for a target of Rs 168 with a stop loss at Rs 156 and an optimistic target of Rs 2,300 on Grasim Industries shares with a stop loss at Rs 2,200. However, a bearish view is reserved for National Aluminium Company Ltd, suggesting investors sell for a target of Rs 162 and a stop loss at Rs 169.

As the market ebbs and flows, these stocks highlight various opportunities ranging from immediate technical trades to longer-term investment moves. Investors and traders alike should keep a close eye on these signals and ensure they fit within their risk tolerance and strategy.

Trading, Analysis, Stocks, Investment, Futures, Options, Market