Muhurat Trading 2024: 10 Best Stocks to Buy this Diwali
As we celebrate Diwali with Muhurat Trading, 5paisa is here to offer you personalized stock recommendations from our top research experts.
| Stock | Action | Trade Price | SL | Target 1 | Target 2 |
|---|---|---|---|---|---|
 Reliance Industries Ltd. |
Buy | 1320-1340 | 1260/1198 | 1485 | 1580 |
 State Bank of India |
Buy | 800 - 820 | 765/ 730 | 915 | 970 |
 Bharat Dynamics Ltd. |
Buy | 1000 - 1030 | 950/870 | 1190 | 1300 |
 Olectra Greentech Ltd. |
Buy | 1600-1620 | 1500/1380 | 1860 | 2040 |
 MphasiS Ltd. |
Buy | 3080-3100 | 2840/2648 | 3560 | 3880 |
Muhurat ki Mithaas Wale Shares: 5 Technical Expert Stock Picks by 5paisa!
Whether you’re looking to strengthen your portfolio or start new investments, our handpicked stock suggestions are designed to help you make the most of this auspicious moment. Let’s trade smart, secure profits, and set the stage for a prosperous financial year. Explore our expert recommendations and embrace the opportunities. Diwali ki Shubh Shuruaat, 5paisa ke Sath!
1. Reliance Industries
Buy Range: 1320-1340 | Support: 1260/1198 | Targets: ₹1485/₹1580
Reliance, a diversified leader, trades near its weekly 89-EMA support, having retraced 50% from a prior uptrend. With RSI indicating oversold conditions, a rebound is likely. Note: A 1:1 bonus issue on October 28, 2024, will adjust prices. Ideal for accumulation on dips, showing growth potential.
2. State Bank of India (SBI)
Buy Range: ₹800-₹820 | Support: ₹765/₹730 | Targets: ₹915/₹970
SBI has formed strong support at its 200-day EMA and has broken trendline resistance, showing renewed momentum. RSI indicates an uptrend, supporting a buy-on-dip approach. A solid pick for Muhurat Trading with favorable long-term and short-term prospects.
3. Bharat Dynamics Limited (BDL)
Buy Range: ₹1000-₹1030 | Support: ₹950/₹870 | Targets: ₹1190/₹1300
BDL, in the defense sector, has support at prior breakout levels around its weekly 50 EMA. Low volume in recent corrections suggests stability, positioning it well for upside potential. A strong candidate for Muhurat Trading accumulation.
4. Olectra Greentech Ltd
Buy Range: ₹1600-₹1620 | Support: ₹1500/₹1380 | Targets: ₹1860/₹2040
Olectra Greentech, an EV and green tech innovator, trades near its weekly 50 EMA with low selling pressure. The RSI crossover indicates favorable momentum, aligning with sustainability trends, making it a solid pick for growth.
5. Mphasis
Buy Range: ₹3080-₹3100 | Support: ₹2840/₹2648 | Targets: ₹3560/₹3880
Mphasis is in a bullish “Higher Top Higher Bottom” pattern with support at its weekly 20 EMA. RSI shows positive momentum, making it an ideal Diwali pick as global digital transformation drives the IT sector forward.
Also know the Muhurat Trading Session Date, Time & Significance.
Samvat 2081 Picks: 5 Fundamental Stocks to Buy This Muhurat Trading by IIFL Securities
This Diwali, as we celebrate the festival of lights and prosperity, it's the perfect time to brighten up your investment portfolio with top fundamental stocks. Fundamental analysis focuses on a company's financial health, long-term growth potential, and stability, making it a reliable strategy for investors seeking consistent returns. This festive season, we've curated 5 top fundamental stocks that have the potential to light up your portfolio like Diwali lights!
| Stock Name | Target in ₹ |
| PNB Housing Finance | 1300 |
| Aurobindo Pharma | 1720 |
| Metro Brands | 1425 |
| Brainbees Solutions (FirstCry) | 800 |
| Varun Beverages | 700 |
1. PNB Housing Finance (PNB HF)
PNB Housing Finance is making significant strides in the affordable and emerging housing segments. The company’s dedicated approach, with separate branches and teams for these verticals, is yielding positive results.
PNB HF plans to grow its loan portfolio in these segments by 40-50% by FY25/26.
The company expects to surpass its 17% growth guidance, largely driven by the government's PMAY 2.0 scheme, which supports affordable housing.
With recent rating upgrades and a stronger focus on high-yielding segments, PNB HF's financial position has strengthened.
Currently, the stock is trading at a discount compared to its peers, making it an attractive investment opportunity.
According to IIFL Securities, PNB HF is a promising investment with a target price of ₹1,300, based on the company’s strong growth prospects, improved financial health, and attractive valuation.
2. Aurobindo Pharma
Aurobindo Pharma, a leading pharmaceutical company, is well-positioned for growth in the coming years. The company has several key drivers contributing to its strong performance:
Aurobindo is actively launching new products in the US market, with expected high single-digit growth. The company aims to launch 40-45 new products each year.
The EU business is also expected to grow in the high single digits, driven by additional capacity from new China and Vizag plants.
With the remediation of Eugia Unit-3 complete, the impact on Aurobindo’s operations has been resolved, allowing the company to increase production and improve margins.
Aurobindo has secured a profitable CDMO project with Merck, expected to generate $225-250 million in steady-state revenue with attractive margins.
Considering these factors, IIFL Securities believes Aurobindo Pharma is a strong investment opportunity and has upgraded the stock’s target price to ₹1,720.
3. Metro Brands
According to IIFL Securities, Metro Brands is a top-ranked company in India's organized footwear industry, thanks to its alignment with four growth themes: Women’s Footwear, Premium Footwear, Sports & Athleisure, and Brand Outlets.
Metro Brands has a well-diversified portfolio catering to different customer segments and price points. The company has a consistent financial performance and a strong execution track record.
Metro Brands has delivered superior returns to its shareholders compared to its peers.
IIFL Securities believes Metro Brands has a favorable risk-reward profile, making it a compelling investment opportunity due to its strong fundamentals and the positive outlook of the organized footwear industry. They have given it a "Buy" rating with a target price of ₹1,425.
4. Brainbees Solutions (FirstCry)
FirstCry, a 13-year-old company, is India's largest omnichannel retailer of childcare products. With 84% of the market still unorganized, FirstCry has significant growth potential.
FirstCry’s strong market position allows it to aggregate both demand and supply in the largely unorganized Indian childcare market.
The company’s growing presence in home brands is expected to boost profitability. FirstCry is focused on improving its product mix to cater to evolving customer preferences and increase sales.
While its international business is currently facing losses, there is growth and profitability potential in the future.
Given FirstCry’s strong market position, growth prospects, and improving financial performance, IIFL Securities has given it a "Buy" rating with a 12-month target price of ₹800. FirstCry is well-positioned to capitalize on the growing Indian childcare market and deliver strong returns to investors.
5. Varun Beverages Ltd (VBL)
VBL is raising up to ₹75 billion through QIP (Qualified Institutional Placement) to reduce debt and acquire other companies. This could be positive for the stock, as VBL has a successful track record of acquisitions.
Replacing debt with equity could lead to approximately a 7% increase in earnings per share (EPS).
IIFL Securities expects VBL to grow at 22% annually and has maintained a "Buy" recommendation with a target price of ₹700.
These are our top 5 fundamental stock picks for this Diwali. With their strong growth potential and attractive valuations, these companies have made it to our video. However, always remember to conduct your own due diligence and research before investing. Every investment carries some risk, so make decisions based on your financial goals and risk tolerance.
Wishing all 5paisa viewers a very Happy Diwali! May this festival bring joy, prosperity, and success to your life. Happy Diwali!
FAQs
Find answers to frequently asked questions to help you understand our platform better.
Muhurat Trading is a one-hour, symbolic session held on Diwali, marking the start of the new financial year in the Hindu calendar. Unlike regular trading, it carries cultural significance, with investors participating for good fortune and prosperity. The session is shorter and filled with festive optimism, with many choosing long-term investments rather than seeking immediate returns.
Muhurat Trading is a great opportunity to align your market moves with both festive optimism and your personal financial goals. To make the most of this special session, it’s wise to focus on blue-chip stocks or fundamentally strong companies that offer long-term stability. You could also use this time to rebalance your portfolio, whether it’s adjusting your investments or taking advantage of market sentiment to enter or exit positions. Setting clear entry and exit points can help you stay on track, especially if the market gets a bit volatile. While the buzz of Muhurat trading might tempt you into making quick decisions, it’s always better to rely on solid research and stick to strategies that support your long-term growth, rather than chasing short-term gains.
It's not necessary to make trades during Muhurat Trading if you're already comfortable with your existing portfolio. Many investors use this time to simply reaffirm their long-term investment strategies or make symbolic trades for the occasion. You can choose to hold your current investments and observe the market, especially if you're satisfied with your portfolio’s performance and don't see any immediate need for changes.
Yes, you can participate in Muhurat Trading from outside India, as long as you have access to your trading account through an Indian stockbroker like 5paisa and an internet connection. 5paisa offers an online platform or mobile app, allowing you to trade seamlessly from anywhere in the world.
The performance of Muhurat Trading stock picks doesn’t inherently differ from regular stock picks in terms of long-term fundamentals. However, Muhurat Trading is often seen as a symbolic, auspicious event, and investors typically choose stocks based on festive optimism and long-term potential rather than short-term gains. This can create a positive market sentiment during the session, but the underlying factors driving a stock’s performance remain the same as during regular trading sessions.
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