Diwali Muhurat trading 2024: Top stocks to buy in Samvat 2081 – check list

Diwali Muhurat Trading 2024 stocks to buy in Samvat 2081: NSE and BSE stock exchanges in India will hold their annual Muhurat Trading session on Friday from 6 pm to 7 pm, with a 15-minute pre-opening period starting at 5:45 pm.
This special trading session aligns with traditional beliefs about favorable celestial positions for initiating new business ventures, conducted during the time when homes are illuminated with diyas and decorated with rangoli.
Analysis shows positive market performance during these special sessions, with the BSE Sensex recording gains in 13 out of the past 17 Muhurat Trading sessions, says ET.
MarketsMojo’s Group CEO, Amit Goel, emphasizes the significance of Muhurat Trading as the beginning of new Samvat, considering it an opportune moment for investments under the blessings of Goddess Lakshmi.
“For those investing with a long-term perspective, this day is ideal for beginning a journey towards sustainable wealth creation. We recommend focusing on sectors that promise enduring relevance over the next two decades — these include sectors like technology, healthcare, renewable energy, and infrastructure, each likely to drive significant value in a fast-evolving economy,” Goel told ET.
Goel suggested that investors seeking shorter to medium-term returns might benefit from investments in consumer goods and consumer durables sectors.
Angel One’s analysis indicates that Nifty’s recent 8-9% correction over four weeks may continue. “In between we may see some rebounds or sideways consolidation, but the possibility of one more corrective leg is very much on the cards. As far as levels are concerned, 24,500/24,750/24,950 are to be treated as strong hurdles whereas on the flipside, 23,700 followed by 23,500 (200-DSMA) are the levels to watch out for. If globally things worsen, 22,400 – 22,000 levels can also be retested,” according to their note.
Here is a list of small cap, mid-cap and large-cap stocks compiled by ET for Samvat 2081 with a view till next Diwali:

Large-caps for Samvat 2081:

1) Varun Beverages – Entry Price: Rs 605-580 | Target: Rs 750 | Stop Loss: Rs 530 | Potential Return: 29%
According to Nilesh Jain, Assistant Vice President (AVP), Equity Research Technical and Derivatives at Centrum Broking, the stock demonstrates a consistent upward price movement with reliable support at the 50-week moving average. Current price consolidation presents an opportunity for position building within the specified price range.
2) BHEL – Entry Price: Rs 230-220 | Target: Rs 295 | Stop Loss: 198 | Potential Return: 34%
According to Angel One, after three successive months of selling pressure, BHEL’s price currently sits near the 20-period exponential moving average on monthly timeframe and the 89-period exponential moving average on weekly charts. The overall technical structure indicates favorable accumulation opportunities for intermediate-term investment horizon.
3) Zomato – Entry Price: Rs 251 | Target: Rs 320 | Potential Return: 27%
Dalal & Broacha says that Zomato demonstrates strong performance with successful optimization of its food delivery and quick commerce operations while maintaining growth momentum. The quick commerce division shows exceptional expansion and has achieved positive contribution margins. Both core segments demonstrate substantial potential for continued expansion.

Mid-caps for Samvat 2081:

1) AU Small Finance Bank: Purchase at Rs 639 with Target: Rs 800 | Expected Gain: 25%
AU Small Finance Bank’s focus on balancing growth with profitability indicates potential for 1.6% Return on Assets in FY25E. The institution has submitted an application for universal banking status, says Axis Securities.
2) HDFC AMC: Enter at Rs 4,385-4,580 | Target: 5,500 | Potential Gain: 24%
HDFC AMC stands as a leading mutual fund company with Rs 7.68 lakh crore QAAUM as of September 2024. Their market presence reaches 11.5% in Q2FY25. Operations benefit from extensive reach through 255 branches and partnerships with over 90,000 distributors, says ICICI Direct.
3) Escorts Kubota: Buy at Rs 3,815 | Target: Rs 4,408 | Expected Return: 15%
SBI Securities recommends investment based on comprehensive product range, extensive distribution network, advantageous market timing, and attractive valuation. Investors should note potential risks including industry recovery delays and export market challenges.

Small-caps for Samvat 2081:

1) Buy Snowman Logistics at Rs 64-60 | Target: Rs 91 | SL: Rs 47 | Upside: 38%
Technical analysis by Angel One shows Snowman Logistics has shifted from its previous downward trend, evidenced by its movement above the declining trendline and emergence from a double-bottom pattern in weekly charts. The trend change is additionally confirmed by consecutive higher peaks and troughs.
2) Buy PCBL at Rs 435-470 | Target: Rs 600 | Upside: 34%
PCBL receives a ‘buy’ recommendation from ICICI Direct based on lucrative organic expansion in its core carbon black operations, expected improvement in Aquapharm performance, and significant potential in Nano Silica segment. Analysis projects revenue and profit growth at CAGR of 21%/27% during FY24-27E.
3) Buy PSB at Rs 50-51 | Target: Rs 65-67 | SL: 46 | Upside: 31%
Punjab & Sind Bank shows significant recovery following a double bottom formation in daily trading patterns, says Dr Ravi Singh, Senior Vice President, Retail Research at Religare Broking. The current price levels suggest favorable entry points for investors considering both immediate and extended investment horizons.