Market expert Raja Venkatraman, co-founder of NeoTrader, has identified three specific stocks for investors to consider on Monday, 6 January 2026. His recommendations come after a volatile trading session where Indian equity benchmarks closed lower despite positive global cues.
Market Recap: Sensex Falls Amid Geopolitical Tensions
On Monday, 5 January, Indian stock markets ended the day in negative territory. The Sensex dropped 322 points, or 0.38%, to close at 85,439.62. Similarly, the Nifty 50 declined by 78 points, or 0.30%, settling at 26,250.30. This downturn occurred even as major Asian and European markets, including Japan's Nikkei and Germany's DAX, posted significant gains.
The initial optimism, which saw the Nifty touch a fresh peak of 26,373.20, faded as the session progressed. Analysts attributed the sell-off to profit-booking in heavyweight stocks and increased investor caution due to escalating geopolitical tensions following US military action in Venezuela. The broader market showed resilience, with the BSE Smallcap index edging up by 0.07%.
Raja Venkatraman's Top Stock Picks for 6 January
Amid this mixed market environment, Raja Venkatraman has provided actionable trading strategies for three stocks. Here is his detailed analysis and recommendations.
1. SAIL (Steel Authority of India Ltd)
Venkatraman suggests a multiday buy trade for SAIL above ₹151. The stock, currently trading around ₹151.10, has shown a promising technical pattern. A double bottom formation observed over recent weeks appears to be resolving with a strong upward charge. A decisive breakout on daily charts is fueling a new move.
Key Details:
- Action: Buy above ₹151
- Stop Loss: ₹146.50
- Target Price: ₹161
- P/E Ratio: 25.79
- 52-Week High: ₹149.40
Investors should note the company's exposure to the cyclical nature of the steel industry as a primary risk factor.
2. Voltas Ltd
For Voltas, the Tata Group air conditioning and engineering major, Venkatraman recommends a multiday buy above ₹1480. The stock, priced near ₹1476.80, broke out of a tight two-month range between ₹1320 and ₹1440 with a strong bullish candle on Monday. A sharp rise in key momentum indicators like the ADX supports the case for a long position.
Key Details:
- Action: Buy above ₹1480
- Stop Loss: ₹1450
- Target Price: ₹1540
- P/E Ratio: 90.58
- 52-Week High: ₹1832.35
Potential risks include intense competition, margin pressures, and vulnerability to climatic conditions affecting demand.
3. SBILIFE (SBI Life Insurance Co. Ltd)
The third pick is SBI Life Insurance. Venkatraman identifies an intraday buying opportunity above ₹2080. After a prolonged period of consolidation, the stock has shown a sharp rise in recent sessions, indicating potential for further upward traction. The strong charge is supported by positive directional indicators.
Key Details:
- Action: Buy above ₹2080 (Intraday)
- Stop Loss: ₹2050
- Target Price: ₹2130
- P/E Ratio: 84.94
- 52-Week High: ₹2085
As with all insurance stocks, SBILIFE carries market-linked risks and is subject to specific regulatory changes.
Market Outlook and Trading Strategy
From a technical perspective, the Nifty found support around the 26,200 level, which could act as a base for a price revival. The overall trend remains bullish, with the index holding firmly above the 26,000 mark. However, supply pressures near key resistance levels may trigger profit-booking, especially ahead of derivatives expiry. Traders are advised to monitor the intraday momentum, which suggests that the market has absorbed recent selling pressure, though any upward move may proceed cautiously.
Disclaimer: Investments in securities markets are subject to market risks. Raja Venkatraman is a SEBI-registered research analyst (INH000016223). The views and recommendations are his own and do not represent the views of Mint. Investors are advised to consult certified experts before making any investment decisions.
