Stocks to buy today: Ruchit Jain of Motilal Oswal picks NTPC, JSW Steel

Stocks to Buy Today, March 6, 2025: The recent correction in the Dollar Index should also support metal stocks due to their inverse correlation

Stocks to Buy Today, March 6:

 

Buy JSW STEEL | CMP: Rs 1,008 | Stop Loss: Rs 965 | Share price target: Rs 1,085

 

JSW Steel share price has been forming a 'Higher Top Higher Bottom' structure and has been a relative outperformer in the last couple of months. The recent correction in the Dollar Index should also support metal stocks due to their inverse correlation. The volumes are good while the RSI oscillator also hints at a positive momentum.  READ: Stock Market Today LIVE

Buy NTPC | CMP: Rs 326 | Stop Loss: Rs 315 | Share price target: Rs 343

 

NTPC share price has seen a consolidation in the last few trading sessions around its long term support zone. The price volume action has turned bullish while the RSI oscillator, on the weekly as well as the daily chart, hints at a positive momentum. Hence, we expect a pullback move in NTPC share in the short term.  READ: Top Stocks to Watch Today, March 06

 

Buy JSW Energy | CMP: Rs 509 | Stop Loss: Rs 495 | Share price target: Rs 545

 

JSW Energy share price has given a breakout from an 'Inverted Head and Shoulders' pattern on the daily chart, which is a trend reversal pattern. The breakout has been accompanied with high volumes while the RSI oscillator is also indicating at a positive momentum.

   

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Disclaimer: Ruchit Jain is head of equity technical research and wealth management at Motilal Oswal Financial Services. Views expressed are his own.