Top 5 Stocks to Buy for Diwali Muhurat Trading

Here are Religare Broking’s technical stock picks for Diwali Muhurat 2024:

• BEL (Bharat Electronics Ltd)Current Price: ₹284.9Buy Range: ₹282-286Target Price: ₹308-330Potential Upside: 15%Stop Loss: ₹268Bharat Electronics Ltd. is a well-known player in the electronics and defense sector, with solid growth potential. Investors are advised to buy within the range of ₹282-286, with a target of ₹330, presenting a 15% upside. A stop loss at ₹268 can help manage risk.

• City Union Bank
  Buy Range: ₹173-176
  Target Price: ₹192-204
  Potential Upside: 16%
  Stop Loss: ₹164
  City Union Bank is an attractive pick for investors seeking opportunities in the banking sector. Accumulating shares in the ₹173-176 range with a target of ₹204 could yield a 16% upside. A recommended stop loss at ₹164 helps mitigate downside risk.

• Federal Bank
  Current Price: ₹203.91
  Buy Range: ₹202-205
  Target Price: ₹218-226
  Potential Upside: 10%
  Stop Loss: ₹194
  Federal Bank has shown steady performance, making it a viable option for investors during the Muhurat session. The target price of ₹226 represents a 10% upside. A stop loss at ₹194 helps protect from potential downturns.

• GMDC (Gujarat Mineral Development Corporation)
  Current Price: ₹370.45
  Buy Range: ₹368-372
  Target Price: ₹420-440
  Potential Upside: 18%
  Stop Loss: ₹337
  GMDC, a major player in the mining and mineral sector, presents a favorable growth outlook. Investors can buy between ₹368-372 with an 18% upside target at ₹440. A stop loss of ₹337 is recommended to minimize potential losses.

• Fortis Healthcare
  Buy Range: ₹623-628
  Target Price: ₹665-680
  Potential Upside: 8%
  Stop Loss: ₹602
  Fortis Healthcare rounds off the list as a healthcare stock with strong growth prospects. With a buy range of ₹623-628, investors could achieve an 8% upside, targeting ₹680. A stop loss at ₹602 is advisable to limit risk.

Significance of Muhurat Trading

Muhurat Trading has a long-standing tradition in the Indian stock market, symbolizing wealth and good fortune. The practice is believed to bring prosperity for investors, and it marks the beginning of the new financial year according to the Hindu calendar. This session is often used by investors to make small purchases in stocks they believe will grow in value, with a symbolic emphasis on financial success for the upcoming year.

Disclaimer

The stock recommendations provided here are based on Religare Broking’s expert insights. Investors should evaluate their risk tolerance and perform additional research before making investment decisions.

Conclusion

Diwali Muhurat Trading offers a unique opportunity for both seasoned and new investors to make strategic moves with an auspicious outlook. By selecting stocks with strong growth potential, investors can start the financial year on a positive note. Whether you’re looking at BEL for its defense potential or Fortis Healthcare for its resilience, Muhurat Trading provides a meaningful opportunity to build a prosperous portfolio.

Reference from :- https://economictimes.indiatimes.com/markets/stocks/news/diwali-muhurat-trading-bel-fortis-among-5-picks-to-buy-during-the-special-session/bel/slideshow/114846200.cms