Unmissable Diwali Stock Picks 2024: Top Winning Stocks to Buy on Muhurat Trading for a Prosperous Samvat 2081
With Diwali ushering in a season of prosperity and joy, investors have a unique chance to capitalize on the auspicious occasion for a fresh financial beginning. The Diwali Muhurat Trading session marks the onset of Samvat 2081, a promising year for strategic investments that could pave the way for steady growth. This year has already seen significant gains in the equity market, with Nifty reaching a peak of 26,277, followed by a corrective phase due to Foreign Institutional Investor outflows.
As investors gear up for the Muhurat Trading session, experts from 5paisa have highlighted five stocks that demonstrate robust technical indicators: Reliance Industries, State Bank of India (SBI), Bharat Dynamics Limited (BDL), Olectra Greentech, and Mphasis. These stocks are recommended for their potential to yield favorable returns.
Reliance Industries is poised for a rebound, trading near its weekly 89-EMA support level, while SBI is showing renewed price momentum. BDL stands out with a solid technical structure, indicating limited selling pressure, and Olectra Greentech aligns with sustainability trends, supported by positive RSI momentum. Mphasis, benefiting from global digital transformation trends, presents an attractive entry point with stable technical indicators.
Investors are advised to adopt a strategic approach: accumulate on dips towards support levels, set stop-loss orders to minimize risk, and moderate expectations due to the anticipated market consolidation. This Muhurat Trading session offers an opportunity to establish a balanced, growth-oriented portfolio, setting the tone for a financially successful year as Samvat 2081 unfolds.
Original Story https://www.news18.com/business/markets/diwali-stock-picks-2024-top-stocks-to-buy-on-muhurat-trading-for-samvat-2081-9102974.html
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