Fri Nov 01 03:50:00 UTC 2024: ## Muhurat Trading Kicks Off Samvat 2081 Amidst Mixed Market Sentiment

**MUMBAI, INDIA -** Indian stock markets are closed today for Diwali, but the auspicious Muhurat Trading session will commence from 6:00 PM to 7:00 PM, marking the beginning of the new Hindu calendar year, Samvat 2081.

The pre-opening session will take place from 5:45 PM to 6:00 PM. While Muhurat Trading has historically been associated with gains, with the BSE Sensex closing higher in 13 of the last 17 sessions, market sentiment remains mixed heading into Samvat 2081.

Nifty fell by 5.7% in October, driven by disappointing Q2 earnings and valuation concerns. SBI Securities predicts a “bottoms-up stock pickers market” for Samvat 2081, advising investors to preserve wealth and moderate return expectations. They recommend a gradual capital deployment approach, aiming to capitalize on potential gains in the latter half of the year.

Financial experts suggest Muhurat Trading offers a prime opportunity for long-term investments. Nilesh Jain, Assistant Vice President at Centrum Broking, encourages investing in quality stocks with strong fundamentals following market corrections. He highlights the Nifty index’s resilience above the 200-day EMA at 23,500, which could act as crucial support. However, he notes resistance levels at 24,300-24,400, with a potential rally targeting 25,100 if these levels are maintained.

Hrishikesh Yedve, Assistant Vice President at Asit C. Mehta Investment Intermediates, emphasizes monitoring Nifty’s trading range, with a breakout from 24,000-24,500 crucial for determining the next trend. Yedve identifies short-term support for Bank Nifty at 51,000-51,150 and resistance at 52,580.

Several brokerages have identified hot stocks to watch for Muhurat Trading, including:

* **Macrotech Developers:** Centrum Broking recommends buying at Rs 1,082 with a target price of Rs 1,368 (26% upside).
* **TCS:** Centrum Broking suggests buying at Rs 4,085-3,900, targeting Rs 4,650 with a stop loss at Rs 3,700.
* **Trent:** Centrum Broking recommends buying at Rs 7,150-6,950, targeting Rs 8,900 with a stop loss at Rs 6,300.
* **Jyoti Resins and Adhesive:** Centrum Broking recommends buying at Rs 1,457 with a target price of Rs 1,930 (32% upside).
* **PTC India:** Religare Broking recommends buying at Rs 180-182, targeting Rs 237-241 with a stop loss at Rs 165-170.
* **BHEL:** Religare Broking recommends buying at Rs 232-235, targeting Rs 295-300 with a stop loss at Rs 212.
* **NHPC:** Religare Broking recommends buying at Rs 82, targeting Rs 108-110 with a stop loss at Rs 75.
* **Axis Bank:** HDFC Securities recommends buying at Rs 1,189-1,210, targeting Rs 1,332-1,403 with a stop loss at Rs 1,070.
* **Karur Vysya Bank:** HDFC Securities recommends buying at Rs 214-218, targeting Rs 249-269 with a stop loss at Rs 183.
* **Stylam Industries:** HDFC Securities recommends buying at Rs 2,195-2,230, targeting Rs 2,560-2,690 with a stop loss at Rs 1,880.

Investors are advised to conduct thorough research and consult with financial advisors before making any investment decisions.

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