Trade Spotlight: How should you trade JSW Steel, TVS Motor, Dr Reddys Labs, NTPC, Aditya Birla Sunlife AMC, and others on March 6?

Top Buy Ideas on March 6

• Experts recommend top 8 buy ideas for March 5 including JSW Steel, TVS Motor, Dr Reddys Labs, NTPC, Aditya Birla Sunlife AMC

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Equity benchmarks bounced back with an over 1.1 percent rally on March 5 after a three-day correction, with the market breadth turning positive. About 2,002 shares saw buying interest compared to 951 rising shares on the NSE. Bears maintain strong control over the market despite the relief rally; hence, any upside bounce is unlikely to sustain amid the Iran–Israel conflict and elevated oil prices. Below are some short-term trading ideas to consider:

Hitesh Tailor, Technical Research Analyst at Choice Broking

JSW Steel | CMP: Rs 1,248.1

JSW Steel is showing strength after taking strong support at its previous breakout zone aligned with the 50-day EMA, where visible accumulation has been observed. The stock continues to trade in a higher high–higher low structure, indicating sustained upside momentum despite the broader market correction. It is also trading above its key 50, 100, and 200 EMAs, reflecting a strong underlying trend.

Given the positive technical setup and strong accumulation near support, short-term traders may consider buying at CMP with a stop-loss at Rs 1,200 for a target of Rs 1,325, while maintaining appropriate risk management.

Strategy: Buy

Target: Rs 1,325

Stop-Loss: Rs 1,200

TVS Motor Company | CMP: Rs 3,818.4

TVS Motor Company continues to maintain a rising uptrend, forming a higher high–higher low structure on the chart. The stock is trading above its key 50, 100, and 200-day EMAs, indicating a strong underlying trend and sustained buying interest.

The recent upmove is supported by healthy accumulation near the 50-day EMA, reinforcing the positive outlook for the short to mid-term. The Relative Strength Index (RSI) is currently at 51.59, holding above the 50 level, suggesting strengthening momentum.

Based on technical parameters, short-term traders may consider buying at CMP with a stop-loss at Rs 3,650 for a target of Rs 4,120, while maintaining appropriate risk management.

Strategy: Buy

Target: Rs 4,120

Stop-Loss: Rs 3,650

NTPC | CMP: Rs 378.05

NTPC has recently delivered a wider-range horizontal breakout and is sustaining above the breakout zone with support from rising moving averages, indicating a strengthening price structure. The stock has also witnessed a bullish moving average crossover, reinforcing the continuation of the uptrend.

Momentum indicators remain supportive, with the RSI at 58.56 and trending higher, reflecting improving strength.

Given the positive technical setup, short-term traders may consider buying at CMP with a stop-loss at Rs 360 for a potential target of Rs 405, while maintaining appropriate risk management.

Strategy: Buy

Target: Rs 405

Stop-Loss: Rs 360

Jay Mehta, Technical Research at JM Financial Services

Dr Reddy’s Laboratories | CMP: Rs 1,313.5

Dr Reddy’s Laboratories has broken out above a wedge pattern and the upper boundary of a yellow-marked descending channel. The price now trades comfortably above all key EMAs with upward slopes. A golden crossover (50-day EMA crossing above the 200-day EMA) occurred a couple of days ago, adding bullish confirmation.

Recent profit booking pulled the price back to retest the breakout zone, where it found support. Expanding volume supports the bullish bias, and momentum indicators remain firmly in bullish territory, signaling continuation potential.

Strategy: Buy

Target: Rs 1,340, Rs 1,360

Stop-Loss: Rs 1,265

Aditya Birla Sunlife AMC | CMP: Rs 892.55

Aditya Birla Sun Life AMC broke out above a bullish head-and-shoulders pattern on February 11, confirming a reversal. The price trades above key EMAs with upward slopes. Recent profit booking led to a retest of the breakout zone, which held firm.

Expanding volume reinforces the bullish bias, and momentum indicators are trading in bullish territory, supporting further upside. The structure remains positive while the breakout zone holds.

Strategy: Buy

Target: Rs 950, Rs 1,000

Stop-Loss: Rs 825

Sarda Energy & Minerals | CMP: Rs 542.65

Sarda Energy formed a clear double-bottom pattern near the prior gap support zone, establishing a solid base. On February 27, it delivered a strong breakout above the pattern, backed by significant volume participation confirming buyer conviction.

The price now trades comfortably above all key EMAs with upward slopes. Expanding volume supports the bullish bias, and momentum indicators remain firmly in bullish territory, signaling continuation potential. The structure favours buyers while the breakout zone holds.

Strategy: Buy

Target: Rs 578, Rs 590

Stop-Loss: Rs 503

Om Mehra, Technical Research Analyst at Samco Securities

Bharat Electronics | CMP: Rs 460

Bharat Electronics has moved past the Rs 445–450 resistance area, a zone that had restricted advances for several weeks. The breakout has come with a strong bullish candle, and the stock is now trading comfortably above the 20-day moving average, suggesting improving momentum in the near term.

Volumes expanded during the breakout session, indicating active participation in the move. The Supertrend Indicator remains positive and continues to act as an immediate cushion on declines.

The RSI is placed near 62 and is gradually moving higher, reflecting strengthening momentum. The Directional Movement Index (DMI) setup also points toward improving directional strength, with the positive line holding above the negative line.

Strategy: Buy

Target: Rs 485

Stop-Loss: Rs 445

AU Small Finance Bank | CMP: Rs 973.45

AU Small Finance Bank has witnessed a sharp recovery after a brief decline toward the Rs 940–950 zone, where the lower Bollinger Band offered support. The stock has formed a strong bullish candle following this pullback, indicating a rebound from lower levels.

The stock is now attempting to move back toward the middle Bollinger Band placed near Rs 990. The RSI is placed near 47 and turning upward, suggesting momentum is gradually improving after the recent correction.

The DMI setup shows the positive line attempting to inch higher. Volumes have picked up during the rebound, indicating active participation near support levels.

Strategy: Buy

Target: Rs 1,020

Stop-Loss: Rs 945