Muhurat Trading 2024: Explore Stock Recommendations, Trading Strategies, and Expert Opinions
Kerala News
Muhurat trading is more than just a special market session; it is a beloved tradition in which investors make symbolic investments to seek the blessings of Goddess Lakshmi, the deity of wealth.
Today marks the auspicious occasion of Muhurat trading, heralding the start of Samvat 2081, the Hindu New Year. As investors gear up to engage in this time-honored trading session from 6 to 7 PM, let’s explore insights from market experts and identify potential opportunities for the year ahead.
Muhurat trading is not merely a distinctive market event; it embodies a valued tradition in which investors make small investments to invoke the favor of Goddess Lakshmi, the goddess of prosperity. As Trivesh D, COO of Tradejini, elaborates, “It’s more about tradition than profits. Many simply buy a few shares to mark the occasion, focusing on sentiment over immediate returns.”
HOW DID THE MARKETS PERFORM IN SAMVAT 2080?
The past year has been extraordinary for Indian markets, with the Nifty index achieving an impressive 25% return, solidifying India’s position as one of the top-performing markets globally. The economy experienced robust growth of 8.2% during FY 2023-24, while inflation remained manageable at 5.4%.
What made this performance particularly noteworthy was India’s increasing prominence across various sectors. The country has made significant advances in areas such as smartphone manufacturing, aerospace, semiconductor production, electric vehicles, and artificial intelligence, highlighting its emergence as a global hub for manufacturing and technology.
WHAT’S IN STORE FOR SAMVAT 2081?
Market experts have an optimistic outlook, albeit with some caution. Projections indicate that markets could reach 28,400 by Diwali 2025, supported by strong domestic demand and India’s growing status as a manufacturing powerhouse. However, challenges lie ahead. The recent market correction of 6.2% in October, coupled with substantial foreign investor selling amounting to Rs 113,858 crores, emphasizes the importance of careful investment strategies.
INVESTMENT STRATEGIES
Amit Goel, Group CEO of MarketsMojo, advocates a dual strategy for investment planning. For long-term investors, he suggests concentrating on sectors expected to remain relevant for the next two decades, such as technology, healthcare, renewable energy, and infrastructure. Meanwhile, those aiming for shorter-term gains might focus on consumer goods and consumer durables, which typically see strong performance during and after the festive season.
MUHURAT TRADING STOCK PICKS
Religare Broking has identified several promising stocks for conservative investors. Their recommendations include BEL, with a target range of Rs 308-330, Federal Bank aiming for Rs 218-226, and Fortis with a target of Rs 665-680.
Samco Securities provides a broader perspective with selections across various sectors. They have highlighted HDFC Bank Ltd as a leader in the banking sector, Persistent Systems Ltd for its capabilities in AI and digital engineering, Piramal Pharma Ltd in the healthcare industry, and Tube Investments of India Ltd representing the manufacturing sector.
For investors considering options beyond stocks, precious metals offer an intriguing opportunity. Analysts recommend looking into GoldBees ETF with a target of Rs 83 (indicating a potential upside of 27%) and SilverBees ETF targeting Rs 150 (with a potential upside of 62%).
SMART TRADING STRATEGIES FOR NEW INVESTORS
The ‘Buy on Dips’ strategy remains a favored approach among experts, who advise looking for high-quality stocks during market corrections. Special attention should be given to large-cap and well-established mid-cap companies, with critical support levels ranging from 23,200 to 22,500.
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