Trade Spotlight: How should you trade Bharat Electronics, Natco Pharma, Thermax, Sun Pharmaceutical, Kirloskar Oil Engines, and others on March 9?

Top Buy Ideas on March 9

• Experts pick top seven buy ideas on March 9 including Bharat Electronics, Natco Pharma, Thermax, Sun Pharmaceutical, Kirloskar Oil Engines

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The benchmark indices were caught in a bear trap after a day of relief rally, with the Nifty 50 falling 1.27 percent on March 6, along with weakness in market breadth. About 1,804 shares declined against 1,136 advancing shares on the NSE. Bears are likely to hold the fort, with the previous week's low at major risk amid geopolitical tensions in the Middle East. Below are some short-term trading ideas to consider:

Rajesh Palviya, Senior Vice President Research (Head Technical Derivatives) at Axis Securities

Bharat Electronics | CMP: Rs 468.45

Bharat Electronics is in a strong uptrend across all time frames, forming a series of higher tops and bottoms, indicating a sustained uptrend. The daily price action decisively surpassed the “multiple resistance” zone of Rs 460 on a closing basis, along with huge volumes, indicating increased participation.

The daily and weekly “Bollinger Bands” buy signal suggests increased momentum. The weekly and monthly strength RSI is in positive territory, signalling rising strength. The stock is well placed above its 20, 50, 100, and 200-day SMAs. These averages are also inching up along with rising prices, which reconfirms a bullish trend.

Strategy: Buy

Target: Rs 485, Rs 513

Stop-Loss: Rs 460

Natco Pharma | CMP: Rs 1,020

On the weekly chart, Natco Pharma has experienced a trend reversal, as it has closed above the previous swing high of Rs 960 on a closing basis, indicating a positive bias. The rising volumes over the past three weeks signify increased participation near the support zone.

The weekly “Bollinger Bands” buy signal suggests increased momentum. The stock is well placed above its 20, 50, 100, and 200-day SMA. These averages are also inching up along with rising prices, which reconfirms a bullish trend.

Strategy: Buy

Target: Rs 1,080, Rs 1,140

Stop-Loss: Rs 985

Thermax | CMP: Rs 3,161.9

The weekly price action has confirmed a “double bottom” — a short-term trend reversal pattern indicating a positive bias — in Thermax. The bullish crossover of the 20, 50, and 100-day SMA signifies a bullish trend. The daily, weekly, and monthly strength RSI is in positive territory, signalling rising strength.

Strategy: Buy

Target: Rs 3,400, Rs 3,500

Stop-Loss: Rs 3,060

Rajesh Bhosale, Technical Analyst at Angel One

Sun Pharmaceutical Industries | CMP: Rs 1,799.4

Despite the broad-based sell-off in the market, Sun Pharmaceutical outperformed, gaining 3.6 percent during the week while confirming a strong bullish breakout in the form of an inverse head and shoulder pattern. The breakout is supported by a notable increase in volumes.

Additionally, prices are trading well above all key moving averages, while oscillators remain positively placed, reinforcing the bullish outlook. Hence, we recommend buying Sun Pharmaceutical in the Rs 1,800–1,790 range.

Strategy: Buy

Target: Rs 1,950

Stop-Loss: Rs 1,740

Hindustan Aeronautics | CMP: Rs 4,023.7

Amid the escalating US/Israel–Iran conflict, defence stocks have been in focus, and this counter is showing promising signs of potential outperformance in the near term. Hindustan Aeronautics witnessed a sharp rally from around Rs 3,000 to Rs 5,100 last year, following which it entered a corrective phase.

Notably, prices found support near the golden retracement level of the previous rally and formed a bullish piercing line pattern on the weekly chart. On the daily chart, a minor range breakout is visible, along with a bullish RSI crossover. The upmove occurred with strong volumes, while corrections saw lower volumes.

The recent rise again with increasing volumes indicates strong accumulation. Considering the overall setup, the stock offers a favourable risk–reward ratio and is likely to outperform in the near term. Hence, we recommend buying Hindustan Aeronautics around Rs 4,025–4,015.

Strategy: Buy

Target: Rs 4,400

Stop-Loss: Rs 3,800

Anshul Jain, Head of Research at Lakshmishree Investments

Mangalore Refinery and Petrochemicals | CMP: Rs 206.55

Mangalore Refinery and Petrochemicals has successfully retested the breakout zone of its 74-day cup and handle pattern and is now delivering a fresh follow-through move above Rs 204 with expanding volumes. The retest validated demand at the prior pivot, confirming that the breakout remains structurally intact rather than failing.

Price has also reclaimed the rising 10 and 20-day moving averages, which are now acting as a launchpad for the next leg higher. Momentum indicators are strengthening, with daily and weekly RSI both turning upward, signalling expanding upside pressure.

The structure suggests continuation rather than consolidation. If participation remains firm, the stock is well positioned to extend toward the Rs 230–235 zone over the next one to two weeks. Risk–reward remains favourable while the breakout zone continues to hold.

Strategy: Buy

Target: Rs 235

Stop-Loss: Rs 198

Kirloskar Oil Engines | CMP: Rs 1,510.5

Kirloskar Oil Engines has delivered a decisive breakout from a massive cup and handle formation near Rs 1,480, signalling a major structural shift. The stock closed strong around Rs 1,510, confirming acceptance above the pivot. The breakout originated precisely from the rising 20-day EMA and was supported by expanding volumes, highlighting strong institutional participation.

The base structure remains clean with steady accumulation, while daily and weekly RSI have both entered a bullish trajectory, reinforcing momentum across timeframes. Any pullback toward the Rs 1,480 breakout zone should act as a demand pocket and present a favourable buy-on-dips opportunity. As long as the pivot holds on a closing basis, the setup projects an immediate upside toward the Rs 1,640 zone, with continuation likely if participation remains strong.

Strategy: Buy

Target: Rs 1,640

Stop-Loss: Rs 1,450