Muhurat Trading: Top 4 Stock Picks for Diwali Muhurat Trading with Up to 26% Upside - Read Now

Muhurat Trading:As Diwali Muhurat trading approaches, HDFC Securities recommends four stocks with potential returns up to 26%. Key picks include Axis Bank and Karur Vyasa Bank, each demonstrating bullish trends ahead of the trading session on November 1, 2024.

By Aayushi Dubey Oct 29, 2024, 12:25 IST

Muhurat Trading: With festival season fast approaching, National Stock Exchange has announced that the annual Diwali Muhurat session shall be held on 1 November, 2024 between 6 PM to 7 PM. The hour long session marks the beginning of the Hindu calendar year Samvat 2081. The timing is based on ancient astrological and cultural importance in terms of starting new ventures under auspicious circumstances.

With this auspicious occasion in mind, HDFC Securities has come out with its four best stock recommendations for Muhurat trading, each with the potential for significant returns over the next year. Here's a closer look at the stocks recommended:

Axis Bank

Buy Between: ₹1,189 - ₹1,210
Target Price: ₹1,332 - ₹1,403
SL: ₹1,070
Upside Potential: 18%
Axis Bank's stock is also showing good support close to its 40-week EMA and has provided the bullish hammer candle pattern. The stock is also seeing an uptrend due to increased volume; therefore, the stock can go up further as well.

Karur Vyasa Bank

Buy between: ₹214- ₹218
Target price: ₹249- ₹269
SL: ₹183
Upside: 25.5%
The stock of Karur Vyasa Bank is seen resuming its main trend on the upside after breaking out from a falling trend line. Rising volumes and bullish trends are seen on the weekly charts.

Stylam Industries

Buy in the range of ₹2,195 - ₹2,230
Target: ₹2,560 - ₹2,690
Stop Loss: ₹1,880
Upside Potential: 22.6%
Stylam Industries is a stock in a strong uptrend and forming bullish patterns on the weekly charts. Having taken a corrective pullback, the stock is very strong above key moving averages and indicators are still in good strength.

Can Fin Homes

Buy Between: ₹850 - ₹860
Target Price: ₹960 - ₹1,040
Stop Loss: ₹765
Upside Potential: 22.3%
Can Fin Homes has been very much supported in the ₹820-₹828 zone. The recent market correction did not do any damage to this stock as it is positive on all timeframes. Technicals are also quite strong.
These HDFC Securities picks are to benefit from the feel-good factor of Diwali Muhurat trading. Investors are looking to upgrade their portfolio, and these suggestions are good for returns that match the festival mood.

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