by Shrikant Chouhan, Head, Equity Research Kotak Securities
🕗 Last Update: 5 March 2026, 4.00 PM
Analysis for 6 March 2026
Today, the benchmark indices bounced back sharply, with the Nifty ending 285 points higher while the Sensex was up by 900 points. Among sectors, Capital Market, Defence, and Metal indices gained over 2 percent, whereas intraday profit booking was seen in IT stocks, resulting in the IT index closing in the negative territory. Technically, after a positive open, the market held positive momentum throughout the day. A bullish candle on daily charts indicates that a pullback formation is likely to continue in the near future. For traders, 24,600/79500 and 24,500/79200 would act as key support zones. Above these levels, the market could continue its positive momentum up to 24,950-25,000/80500-80700. On the flip side, below 24,500/79200, the sentiment could change. Below this level, traders may prefer to exit their long positions.
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