SMAR Daily Industry News

Diwali Muhurat Trading: Top Stock Picks and Targets

India’s Diwali Muhurat Trading session runs from 2:20 pm to 3:30 pm on November 8, marking the start of Samvat 2083 after a year of geopolitical shocks, tariff uncertainty, currency pressure and crude-oil volatility. Amid improving corporate earnings and a modest re-rating of large- and mid-cap valuations, Centrum Finverse has highlighted five technical setups with staggered entry levels, upside targets and defined stop-losses.

Centrum maintains a bullish view on BSE Ltd., citing a higher-top and higher-bottom weekly pattern, support at the rising trendline and the 50-week moving average, and momentum indicators in bullish territory. The firm recommends a first entry at ₹3,490, a second at ₹3,315, with targets of ₹3,909 (12% upside) and ₹4,328 (24% upside) and a stop-loss at ₹3,000.

Larsen & Toubro (L&T) is seen recovering from a corrective phase, having retested short-term moving averages and showing an RSI around 61. While a decisive breakout above the 200-day moving average near ₹3,930 is pending, Centrum suggests staggered accumulation at ₹3,939 and ₹3,655, targeting ₹4,310 (10% upside) and ₹4,772 (21% upside) with a stop-loss at ₹3,310.

TVS Motor exhibits a strong bullish weekly structure, trading above key short- and long-term averages. Momentum tools such as weekly RSI and MACD remain supportive. Centrum proposes entries at ₹4,212 and ₹4,000, aiming for ₹4,633 (10% upside) and ₹5,054 (20% upside) while marking ₹3,690 as crucial support.

HDFC Bank shows a consistent higher-high and higher-low pattern on the weekly chart, comfortably above its moving averages. Momentum indicators reinforce the uptrend. The recommended entries are ₹186 and ₹176, with targets of ₹207 (12% upside) and ₹229 (24% upside) and a stop-loss at ₹159.

Persistent Systems continues a constructive long-term technical structure, trading above short- and long-term averages and supported by weekly RSI around 63. Approaching the ₹6,400–6,500 resistance zone, Centrum sets entry points at ₹6,051 and ₹5,700, targets of ₹6,741 (11% upside) and ₹7,464 (23% upside) and a stop-loss at ₹5,180.

Why it matters

These technical setups give investors concrete entry, target and risk levels for key Indian stocks ahead of a high-visibility trading day.

FAQ

What time does the Diwali Muhurat Trading session occur?
The special session runs from 2:20 pm to 3:30 pm on November 8.

Which stocks did Centrum Finverse highlight for technical trading ideas?
BSE Ltd., Larsen & Toubro, TVS Motor, HDFC Bank and Persistent Systems.

What is the stop-loss level for the BSE trade idea?
The stop-loss is set at ₹3,000.

What technical indicator suggests buying interest in L&T?
The relative strength index (RSI) is around 61, indicating gradual improvement in buying interest.

Source: Mint Markets. See the original source for full details.