Diwali Muhurat Trading: Thumping start for Samvat 2079; Sensex up over 500-points, Nifty ends with gains of 150 points; ICICI Bank, Nestle lead gainers
UPDATES: Muhurat Trading 2022, Diwali Session - On this auspicious day of Diwali and beginning of Samvat 2079, Indian stock markets traded with great positivity during the one-hour long Muhurat Trading session. Both BSE and NSE saw significant action with Benchmark indices Sensex and Nifty50 ending the session in the green. While the former ended at 59,831.66, up by over 524.51 points or 0.88 per cent, the latter closed with gains of over 150 points. A special Muhurat Trading session is organised by the exchanges on the auspicious Diwali day, every year. It is a one-hour long session. This session marked the beginning of a new Samvat 2079 - the Hindu calendar year that starts on Diwali. The symbolic trading session was held between 1815 hours and 1915 hours. It is believed that trading during the muhurat or auspicious hour brings prosperity and financial growth for the stakeholders. Trading took place across various segments like equity, commodity derivatives, currency derivatives, equity futures & options, and securities lending & borrowing (SLB) in the same time slot. Here are all the UPDATES on Muhurat Trading 2022 and Diwali Session:-
UPDATES: Muhurat Trading 2022, Diwali Session - On this auspicious day of Diwali and beginning of Samvat 2079, Indian stock markets traded with great positivity during the one-hour long Muhurat Trading session. Both BSE and NSE saw significant action with Benchmark indices Sensex and Nifty50 ending the session in the green. While the former ended at 59,831.66, up by over 524.51 points or 0.88 per cent, the latter closed with gains of over 150 points. A special Muhurat Trading session is organised by the exchanges on the auspicious Diwali day, every year. It is a one-hour long session. This session marked the beginning of a new Samvat 2079 - the Hindu calendar year that starts on Diwali. The symbolic trading session was held between 1815 hours and 1915 hours. It is believed that trading during the 'muhurat' or auspicious hour brings prosperity and financial growth for the stakeholders. Trading took place across various segments like equity, commodity derivatives, currency derivatives, equity futures & options, and securities lending & borrowing (SLB) in the same time slot. Here are all the UPDATES on Muhurat Trading 2022 and Diwali Session:-
Latest Updates
On this auspicious day of Diwali and beginning of Samvat 2079, Indian stock markets traded with great positivity during the one-hour long Muhurat Trading session. Both BSE and NSE saw significant action with Benchmark indices Sensex and Nifty50 ending the session in the green. While the former ended at 59,831.66, up by over 524.51 points or 0.88 per cent, the latter closed with gains of over 150 points. In the 30-stock BSE Sensex, 28 were gainers at the closig time while two were in the red. Maenwhile, 47 stocks settled positively on the Nifty50 index while three could manage a negative closing.
Commodity Markets at a Glance:
Source: MCX US Markets Today: Dow 30, Nasdaq Composite, S&P 500
Source: Comex Stocks to Buy: Delta Corp:
Commodities Trading: Snapshot
Trading Stretegy: Anuj Gupta from IIFL Securities
BUY MCX GOLD DEC AT 50400 SL 50200 TARGET 50800
BUY MCX SILVER DEC AT 57300 SL 56800 TARGET 58000
BUY MCZ CRUDEOIL NOV AT 6950 SL 6850 TARGET 7100
BUY NSE NIFTY AT 17500 SL 17350 TARGET 17850
BUY BANKNIFTY AT 40600 SL 40200 TARGET 41500
BUY NSE USDINR OCT AT 82.60 SL 82.40 TARGET 82.90
[17:48, 24/10/2022] Rupee Anuj Gupta: Diwali Mahurat Trading picksBUY MCX GOLD DEC AT 50400 SL 50200 TARGET 50800
BUY MCX SILVER DEC AT 57300 SL 56800 TARGET 58000
BUY MCX CRUDEOIL NOV AT 6950 SL 6850 TARGET 7100
BUY NSE NIFTY AT 17500 SL 17350 TARGET 17850
BUY BANKNIFTY AT 40600 SL 40200 TARGET 41500
BUY NSE USDINR OCT AT 82.60 SL 82.40 TARGET 82.90
Only two stocks were trading in red on the BSE Sensex. They were Hindustan Unilever which was trading at 2586, down by 2.7 per cent while Kotak Mahindra Bank which was trading Rs 1895, down by 0.4 per cent.
All 15 sectoral indices were trading in the gree. The biggest Gainer was Nifty Bank.
Meanwhile, Nifty50 was also trading with considerable gains. The 50-share index was trading at 17772.05 and was up 1.11 per cent or by 195 points. $8 stocks advanced while 2 were in the red.
Muhurat Trading 2022 begins on a high note with BSE Sensex trading at 59,938.34, up by 631.19 points or 1.06 per cent minutes after the opening of the Markets.
Stocks to Buy: Sadeep Jain - AVT Natural Products Ltd
Kiran Jadhav: Patanjali Foods
Sumeet Bagadia - Siddhart Sedani
Muhurat Trading 2022: Stocks to Buy - Expert Anuj Gupta of IIFL Securities
BUY MCX GOLD DEC AT 50400 SL 50200 TARGET 50800
BUY MCX SILVER DEC AT 57300 SL 56800 TARGET 58000
BUY MCZ CRUDEOIL NOV AT 6950 SL 6850 TARGET 7100
BUY NSE NIFTY AT 17500 SL 17350 TARGET 17850
BUY BANK NIFTY AT 40600 SL 40200 TARGET 41500
BUY NSE USDINR OCT AT 82.60 SL 82.40 TARGET 82.90
(Disclaimer: The views/suggestions/advises expressed here in this article is solely by investment experts. Zee Business suggests its readers to consult with their investment advisers before making any financial decision.)
Anil Singhvi Strategt: Nifty, Nifty Bank - Support and Resistance Levels
Zee Business Managing Editor Anil Singhvi is bullish on Indian Equity markets motwithstanding the current global economic situation. He said that there will be enough opportunities for the investors to make monet over the course of this Samvat 2079.
He puts his money on sectors like paper, textile and liquor. He also recommends stock specific action in FMCG, manufacturing.
Ahead of the Muhurat trading wbich is just minutes away, NSE wishes happy diwali to all investors on its official twitter handle.
See Tweet Here:
(Disclaimer: The views/suggestions/advises expressed here in this article is solely by investment experts. Zee Business suggests its readers to consult with their investment advisers before making any financial decision.)
Muhurat Trading Today: Eicher Motors - CMP: 3597 Buy Range:3300-3180 Support zone:3050-2900 Upside: 16-24%
Source: Axis Securities Stocks to Buy: SBI Life: CMP: Rs.1220, Target 1: Rs.1360, Target 2: Rs.1500, SL: Rs.1060
Technical View: Centrum Broking
SBI Life The stock has been trading in higher top higher bottom formation in an uptrend currently on weekly charts prices have retraced 50% from the corrective move from the rally from 1000 to 1340 rs. Prices have formed inside a bullish bar on the weekly time frame.
RSI has also formed a positive reversal on the weekly time frame adding further confirmation. SBI Life Insurance Company Limited, incorporated in 2001, is a joint venture between the State Bank of India and BNP Paribas. It provides individual and group insurance plans, including traditional and unit-linked plans. Its products cover life, health, annuity, pension, and variable insurance. Investment Rational- SBI Life is a fast-growing Pvt sector insurance company in India.
It is expected to maintain the momentum shown in the last few quarters where it delivered good growth in its APE business and VNB margin also increased. The company has the backing of its peer SBI which provides the largest distribution network. SBI Life is trading at P/EV of 3x TTM EV per share of Rs 395. Insurance is a under-penetratedated market in India and SBI Life is expected to play a strong role.
(Disclaimer: The views/suggestions/advises expressed here in this article is solely by investment experts. Zee Business suggests its readers to consult with their investment advisers before making any financial decision.)
Stock to Buy: Ambuja Cement: CMP: 510 Buy Range: 470-450 Support zone: 400-355 Upside: 22%-33%
Axis Technical Muhurat Picks 2022 Samvat 2079
Diwali Muhurat Technical Picks: Underlying Strategy SAMVAT 2078 has been quite volatile. While our benchmark NIFTY started at the level of 18040 and touched an all-time high of 18350 on 18th Jan’22, things turned for the worse after it hit this all-time high mark.
Rising valuations, accentuated geopolitical tensions, withdrawal of monetary stimulus from the central banks across the globe, rising interest rate scenario, and rising oil led NIFTY to hit lows of 15183 on 17th Jun’22. On a brighter note, the market has since regained the lost ground with the NIFTY rebounding by 20% and the Sensex by 18%.
Other lead indices such as Bank NIFTY, Mid Cap, and Small Cap indices, too, have rebounded by 30%, 27% and 34% respectively. Overall, in the last SAMVAT, after hitting all-time highs, the market has rebounded from the lows and then has remained in a broader range of 18300-15500 levels.
Moving forward, based on the technical parameters, we expect NIFTY to trade positively in SAMVAT 2079. The underlying tone of the market remains bullish with the expected upside of 18500-19000 levels. Major downside supports are placed at 16500-16000 levels.
Source: Axis Securities (Disclaimer: The views/suggestions/advises expressed here in this article is solely by investment experts. Zee Business suggests its readers to consult with their investment advisers before making any financial decision.)
Muhurat Trading Today: Important Support and Resistance levels in Nifty, Bank Nifty
Choice Broking - Sumeet Bagadia
Index has been trading with the support of the middle band of Bollinger which suggests adding bullishness to the prices.
• A daily momentum indicator Stochastic has shown a positive crossover on the daily chart which adds more bullishness to the price.
• As per the above-mentioned technical parameters, we are expecting a bullish move in the Nifty50, so one can buy at CMP 17185 or on dips should be a strategy for the medium to long term with the Support of 16500-15800 while Resistance is placed at 18100-18600 levels.(Disclaimer: The views/suggestions/advises expressed here in this article is solely by investment experts. Zee Business suggests its readers to consult with their investment advisers before making any financial decision.)
Prashanth Tapse, Research Analyst, Sr VP Research, Mehta Equities
"We expect an electrifying and sparkling Muhurat session on cards as dalal street is ignoring weak global cues and focusing on domestic stable and optimistic outlook on micro economic data followed by improving corporate profitability. Technically speaking, with strong base at 17400 Nifty’s immediate hurdle is seen at 17750. Above 17750, all eyes would be on Nifty’s psychological 18000 mark and expect 18100 targets for coming week. On FII’s they too have turned net buyers in cash in the last two sessions which is some kind of support for the positive trend. Overall the short term momentum remains positive despite global concerns. We advise Traders should use buy on dip strategy in these kind of markets scenario.
Better than expected Q2 numbers bring more cheer to investors ahead of Diwali and banking space would be highly watched post results last week. We see Axis bank, Kotak bank and ICICI bank can see gap up openings.
This muhurat trading we should focus on Sector like Defence like HAL & BEL, Banking like Axis & SBI and EV Auto’s like Tata Motos & M&M.".
Stocks to buy: Axis Bank - Techncal View - CMP: Rs.816, Target 1: Rs.950, Target 2: Rs.1100, SL: Rs.662
The stock has been trading in the consolidation range where currently prices are trading at a resistance level. While the overall trend of the stock remains bullish as on quarterly charts prices have given a break above the bullish flag pattern. A break above 840 levels would give further bullish confirmation for prices to rally near Rs 900-1000.
Axis Bank is the third largest private sector bank in India. The Bank offers the entire spectrum of financial services to customer segments covering Large and Mid-Corporates, MSME, Agriculture and Retail Businesses.
The Bank has a large footprint of 4,758 domestic branches (including extension counters) with 10,990 ATMs & 5,972 cash recyclers spread across the country as of 31st March 2022. Investment Rational- Axis is a very strong Pvt sector bank trading at an attractive valuation (TTM P/B 2.3x FY22 BVPS 356) as compared to its other large listed peers.
The bank has turned around in the last few years and now stands on a cusp to take advantage of very strong Indian economic growth momentum. The asset quality remains good (Net NPA 0.6%) and valuations remain attractive vis a vis other large listed peers.
(Disclaimer: The views/suggestions/advises expressed here in this article is solely by investment experts. Zee Business suggests its readers to consult with their investment advisers before making any financial decision.)
Market expert Basant Maheshwari tells Anil Singhvi said that investors must not panic amid market uncertainties. He said that time till Januray 2023 is difficilt and by that time interst rate hikes are expected to
stablize.
Global Markets in a Glance:
- FTSE 100 was trading at 6,972.17, up by 2.44 points or 0.04 per cent from the previous closing price.
- DAX was trading at 12,858.10 and was up by 127.22 points or 1 per cent around this time.Source: Comex: US Markets - Dow 30, Nasdaq Composite, and S&P Poor are yet to open.
Stocks to Buy: Infosys: CMP: Rs.1504, Target 1: Rs.1650, Target 2: Rs.1800, SL: Rs.1352
Technical View:
Infosys The Nifty IT index formed a triple bottom, indicating a short-term base formation, and we can expect a moderate up move in the IT stocks. Infy gave a breakout from a falling wedge pattern on the weekly chart, and the conservative target for the same comes in around 1650. Above that, it is likely to fill the gap and move towards 1800.
The momentum oscillator MACD gave a fresh buy crossover and RSI also reversed from its oversold territory, which is a positive sign. It also has multi-month support near 1350 and that should be the stop loss. Infosys is a global leader in next-generation digital services and consulting. It enables clients in more than 50 countries to navigate their digital transformation.
It has more than 335,000 employees and has total operating revenue of US $17bn. Investment Rational- INFY reported good Q2 results and contrary to expectation, the company showed margin increase rather than a decline.
Also the company guided for increased constant currency growth for Fy23 post Q2 results. With INR now at 82 levels, that will act as a buffer for IT companies. INFY also has a huge cash reserve of almost 400bn rupees and dividend yield of 4%. Company has recently announced a buy back also worth Rs9,300cr, its fourth buy back in last six years. It is trading at PE of 28x TTM EPS 53.
(Disclaimer: The views/suggestions/advises expressed here in this article is solely by investment experts. Zee Business suggests its readers to consult with their investment advisers before making any financial decision.)
NCDEX Muhurat Trading 2022 timings:
The Muhurat Trading Session on account of Diwali will be conducted on Monday, October 24, 2022. The market timings for Muhurat trading session will be as under:
The Pre-Open session shall start from 6:00 p.m. and Client code modifications will be allowed from 6:15 p.m. to 7:25 p.m.
MCX Muhurat Trading time 2022 between 6:15 and 7:15.
"On occasion of Diwali (Laxmi Pujan Day) on Monday, October 24, 2022, Members shall be permitted to upload allocation/ deallocation files up to 9:00 pm," an MCX circular said.
What stocks should you put your bets on? Centrum Broking lists top bets for high returns. Infosys, Axis Bank, SBI Life, HDFC Bank, Patanjali, PFC are stocks that would give significant returns.
BSE Lakshmi Poojan and Muhurat Trading Today - Monday, October 24th, 2022
Programme details:
Lakshmi Poojan
3.30 pm
Awards distribution to top volume performers
4.45 pm – 5.45 pm
Muhurat Trading
Pre-opening: 6 pm-6.15 pm
Continuous trading: 6.15 pm -7.15 pm
Muhurat Trading 2022 Session Today Time
The symbolic trading session would be held between 1815 hrs and 1915 hours, the stock exchanges had said in separate circulars.
Muhurat Trading 2022
Leading stock exchanges BSE and NSE will conduct a one-hour special muhurat trading session today, marking the beginning of a new Samvat 2079 -- the Hindu calendar year that starts on Diwali.
Muhurat Trading 2022: Time Schedule
Muhurat Trading 2022 - Technical Top 5 Stocks Picks by Siddarth Bhamre, Head of Research, Religare Broking Ltd.
Muhurat Trading 2022: Best Stocks, Picks, Share Recommendations From ICICI Direct Research
Muhurat Trading Session 2022: DETAILS
Trading would take place across various segments like equity, commodity derivatives, currency derivatives, equity futures & options, and securities lending & borrowing (SLB) in the same time slot.
Muhurat Trading 2022: Recommendation - New Traders Should Be Watchful
"Diwali is considered to be the ideal time to start anything new. The market sentiment is quite positive, with a majority of buying orders across segments. Investors are said to benefit from trading during this session all through the year," Puneet Maheshwari, Director at Upstox, said.
Since the trading window is only open for an hour, markets are known to be volatile. Therefore, new traders should be watchful. The focus might not be on profitability as much as it might be on the gesture, he added.
Muhurat Trading 2022: History, Prediction, Forecast, Recommendation
Kanika Agarrwal, Co-founder, Upside AI, said although 11 of the last 15 mahurat sessions have closed in the green so mahurat can be a good day for traders. Perhaps there is a case for "hope arbitrage" where you can go long early in the session and close out positions at the end of the trade.
Muhurat Trading: Unique Tradition in India
"India is a land of unique traditions. Even in the stock market, we have a tradition that is unique to us - Muhurat Trading," Narayan Gangadhar, Chief Executive Officer at Angel One Ltd, said.
Muhurat Trading 2022 History, Forecast, Recommendations
Overall, Indian equities have outperformed global markets significantly in Samvat 2078 and the outperformance is expected to continue in Samvat 2079, driven by strong recovery in the Indian economy and domestic liquidity, offsetting FPI (Foreign Portfolio Investors) outflows, Manish Jeloka, Co-head of Products & Solutions, Sanctum Wealth, said.
However, investors need to keep in mind that a slowdown in the global economy due to tightening liquidity conditions could lead to bouts of volatility like that witnessed in Samvat 2078, he added.
Muhurat Trading 2022 Prediction, Forecast, Recommendation, Sectoral Picks
"Samvat 2079 is likely to be like Diwali. There will be celebration along with loud busting of crackers. Ukraine, US Fed Rate, Oil, Inflation and Zero Covid policy of China will continue to bust," Nilesh Shah, Group President and MD at Kotak Mahindra Asset Management Company, said.
Banks, capital goods, manufacturing are likely to outperform the market in Samvat 2079. Also, tech and pharma will provide interesting opportunities on a bottom up basis in the correction, he added.
Next Stock Market Holiday After Muhurat Trading 2022 Session
The exchanges will remain closed on October 26, on the occasion of Diwali Balipratipada.
Trading would take place across various segments like equity, commodity derivatives, currency derivatives, equity futures & options, and securities lending & borrowing (SLB) in the same time slot.
It is believed that trading during the 'muhurat' or auspicious hour brings prosperity and financial growth for the stakeholders.
Muhurat Trading Diwali Session 2022 Time Today
The symbolic trading session would be held between 1815 hrs and 1915 hours, the stock exchanges said in separate circulars.
Leading stock exchanges BSE and NSE will conduct a one-hour special muhurat trading session on Monday, marking the beginning of a new Samvat 2079 -- the Hindu calendar year that starts on Diwali.
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