Diwali Muhurat Trading 2024 LIVE Updates: Muhurat Trading is a special and meaningful trading event held during Diwali, marking the start of the Hindu New Year. This short trading session lasts for one hour in the evening and is thought to attract wealth, prosperity, and good luck to investors and traders.
The domestic benchmark indices, National Stock Exchange (NSE) and the Bombay Stock Exchange (BSE) will hold their yearly Muhurat Trading today, (Friday, November 1) from 6 pm to 7 pm. This hour-long trading period will be preceded by a 15-minute pre-opening session scheduled for 5:45 pm to 6:00 pm.
The Samvat 2081 is here. Numerous investors think this is an ideal moment to reassess their financial strategies and make plans for the upcoming year. During Samvat 2080, the Indian equity market had a favourable performance owing to robust economic growth and helpful government policies, despite facing challenges such as elections and global tensions. As Samvat 2081 commences, the market momentum is anticipated to be sluggish, according to experts.
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Diwali Muhurat Trading 2024 LIVE: Maintain cautious approach for Muhurat trading, says Anand James of Geojit
Over the past decade, Nifty 50 has concluded positively in 8 out of 10 sessions of Muhurat trading. Additionally, for 80% of the previous 10 years, Nifty 50 experienced positive performance in the following two months.
Foreign Institutional Investors (FIIs) were net sellers in 5 of the last 10 Octobers, but they were net buyers in November for 7 of those years, which contributes to an optimistic outlook for the upcoming two months.
However, prudence remains essential, highlighting the importance of careful stock selection.
Diwali Muhurat Trading 2024 LIVE: Top Diwali Picks by Vaishali Parekh, VP – Technical Research of Prabhudas Lilladher
Buy ABB Ltd: Target: ₹12,300, Stoploss: ₹7,350
Buy BEL: Target: ₹426, Stoploss: ₹240
Buy BHEL: Target: ₹390, Stoploss: ₹215
Buy Coal India: Target: ₹690, Stoploss: ₹415
Buy Exide Industries: Target ₹740, Stoploss: ₹425
Buy GMDC Ltd: Target: ₹544, Stoploss: ₹305
Buy Garden Reach Shipbuilding & Engg: Target: ₹2770, Stoploss: ₹1420
Buy Himadri Specialty Chemicals Ltd: Target: ₹900, Stoploss: ₹530
Buy KPIT Tech: Target: ₹2500, Stoploss: ₹1500
Buy NTPC: Target: ₹590, Stoploss: ₹360
Buy Tata Motors: Target: ₹1225, Stoploss: ₹770
Diwali Muhurat Trading 2024 LIVE: Technical View for Samvat 2081 by Rupak De, Senior Technical Analyst, LKP Securities
Technically, the Nifty 50 has formed a head-and-shoulders pattern breakdown, suggesting a bearish reversal for the short to medium term. The breakdown below the neckline at 24,700 triggered a sharp sell-off, as major players sided with the bears upon the breakdown of this significant pattern. Additionally, Nifty fell below the 38.2% Fibonacci retracement level (24,375), which served as an early warning of a bearish reversal.
Diwali Muhurat Trading 2024 LIVE: Top 5 Technical Picks from Religare Broking
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Diwali Muhurat Trading 2024 LIVE: Market Outlook for Muhurat Trading 2024
According to Anand James, Chief Market Strategies, Geojit Financial Services, in the last 10 years, Nifty 50 ended positively on 8 out of 10 Muhurat trading sessions. Apart from that, 80% of the time in the last 10 years, Nifty 50 saw the next two months to be positive. FIIs have remained net sellers during 5 out of last 10 Octobers and they were net buyers in November during 7 out of the last 10 Novembers which would add to the positive expectation for the next two months.
That said, caution still rules, raising the virtues of astute stock picking. In 2022, the only year since 2020 with negative returns in the 30 days prior to Muhurat trading, where Nifty 50 went down 1.18%, the next 30 days saw a 4.86% rise.
Diwali Muhurat Trading 2024 LIVE: Suggestion for traders for 1-hour Muhurat trading by Bajaj Broking
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Diwali Muhurat Trading 2024 LIVE: Here’s all you need to know about Muhurat trading 2024 date and time
According to the notice from BSE, the Muhurat Trading session is set for November 1, 2024, from 6:00 PM to 7:00 PM. It’s important for participants to remember that all intraday positions will be automatically closed 15 minutes prior to the end of the session, requiring careful consideration for trades made on the same day.
Disclaimer: The views and recommendations above are those of individual analysts, experts, and brokerage firms, not Mint. We advise investors to consult certified experts before making any investment decisions.
