4 Stocks to Buy During Muhurat Trading for Strong Returns by Next Diwali

By Amar

Synopsis: The onset of Samvat 2081 brings opportunities for investors as HDFC Securities has spotlighted four promising stocks in the Indian market that are projected to perform well based on weekly technical indicators. 


4 Stocks to Buy During Muhurat Trading for Strong Returns by Next Diwali



Key Investment Highlights:


1. Axis Bank Ltd: HDFC Securities recommends purchasing Axis Bank shares in the price range of Rs. 1,189 to Rs. 1,210 with targets of Rs. 1,332 and Rs. 1,403. The technical structure indicates a bullish reversal, with the stock finding support around the 40-week exponential moving average (EMA) and showing a hammer candlestick pattern on the weekly chart. These indicators, combined with higher volume activity and formation of higher tops and bottoms, suggest a strong bullish trend.


2. Karur Vysya Bank Ltd: With a buying range of Rs. 214-Rs. 218, Karur Vysya Bank shows potential for reaching target prices of Rs. 249 and Rs. 269. The stock recently broke out from a downward trend on the weekly chart, supported by an upward-sloping trendline from May 2023. This breakout, along with the bullish stochastic oscillator and increased trading volumes, emphasizes the continuation of its primary uptrend. Investors are advised to place a stop-loss at Rs. 183.


3. Stylam Industries Ltd: Stylam Industries’ primary trend remains positive, with the stock trading above its 20- and 50-week moving averages, reinforcing its upward trajectory. The suggested buying range of Rs. 2,195 to Rs. 2,230 offers an entry point with target prices set between Rs. 2,560 and Rs. 2,690. The stock's upward momentum is supported by a bullish MACD on the weekly chart and consistent higher high-low formations. A stop loss of Rs. 1,880 is recommended to manage downside risks.


4. Can Fin Homes Ltd: With a current support range between Rs. 820-Rs. 828, Can Fin Homes has shown resilience amid recent market corrections. The brokerage suggests a buy range of Rs. 850-Rs. 860, with targets from Rs. 960 to Rs. 1,040, and a stop-loss of Rs. 765. The stock’s technical indicators, including its position above major moving averages and an RSI oscillator showing accumulation at lower levels, reinforce a bullish outlook.


In conclusion,  the recommended stocks for Samvat 2081 reflect technical strength across various metrics, including supportive candlestick patterns, rising volume trends, and consistent higher top-bottom formations. 


HDFC Securities highlights these stocks as strategically positioned for capitalizing on market trends in banking and industrial segments. 


However, as with any investment, maintaining a disciplined approach with target prices and stop-loss placements can help manage risks and optimize returns.


Disclaimer: This article is intended for informational purposes only and does not constitute investment advice. Readers are encouraged to consult with a certified financial advisor before making investment decisions. Investments are subject to market risks, including the potential loss of principal.

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