Muhurat Trading: Indian equities head into Samvat 2083 after a volatile year in which geopolitical shocks, tariff uncertainty, currency pressure and swings in crude oil tested investor confidence. Muhurat Trading will be in a special session between 2:20 to 3:30 pm today, November 8.
Corporate earnings have offered a source of confidence, with second-quarter profit growth strengthening across large-, mid- and small-cap companies, although some segments have benefited from temporary factors.
Valuations have also become more reasonable in parts of the market after a sharp de-rating, particularly among large- and mid-cap stocks, while small-cap valuations remain relatively elevated.
Against this backdrop, Centrum Finverse has identified five technical trading ideas for the new Samvat, with staggered entry levels, successive upside targets and defined stop-losses. The setups rely on improving price trends and momentum indicators, but investors should respect the stated risk levels.
Centrum’s five technical stock picks for Samvat 2083
1. BSE Ltd
First entry level: ₹3,490
Second entry level: ₹3,315
First target: ₹3,909 (12% upside)
Second target: ₹4,328 (24% upside)
Centrum maintained a positive technical view on BSE, citing a sustained higher-top and higher-bottom formation on the weekly chart. The stock had also found support at its rising trendline, which coincided with the 50-week moving average, creating an important support confluence. Momentum indicators and oscillators on the daily chart remained in bullish territory, while the stock continued to trade above its short- and long-term moving averages. The brokerage said the technical structure indicated the potential for a gradual move towards ₹4,328, with ₹3,000 acting as a crucial support level.
First entry level: ₹3,939
Second entry level: ₹3,655
First target: ₹4,310 (10% upside)
Second target: ₹4,772 (21% upside)
Centrum said Larsen & Toubro was showing signs of recovery after a corrective phase, having rebounded from recent lows and regained its short-term moving averages. Its momentum indicators were also improving, with the relative strength index hovering around 61, signalling a gradual improvement in buying interest. However, the stock was yet to establish a decisive breakout above its 200-day moving average, placed near ₹3,930. A sustained move above the ₹3,950 resistance zone could strengthen the technical setup and open the way towards the first target of ₹4,310 and subsequently ₹4,772. Centrum suggested staggered accumulation on declines, with ₹3,310 as the important support level.
First entry level: ₹4,212
Second entry level: ₹4,000
First target: ₹4,633 (10% upside)
Second target: ₹5,054 (20% upside)
Centrum said TVS Motor continued to maintain a strong bullish structure on the weekly chart and was trading above its key short- and long-term moving averages. Momentum indicators, including the weekly RSI and MACD, remained supportive of the positive trend. The overall technical setup suggested the possibility of the stock scaling new record highs in the ₹4,630–5,054 range. The brokerage identified ₹3,690 as a crucial positional support level. Its trade strategy provided for staggered entry at ₹4,212 and ₹4,000, with successive targets at ₹4,633 and ₹5,054.
First entry level: ₹186
Second entry level: ₹176
First target: ₹207 (12% upside)
Second target: ₹229 (24% upside)
Centrum highlighted the bank’s strong bullish structure on the weekly chart, marked by a consistent higher-high and higher-low formation. The stock was comfortably trading above its short- and long-term moving averages, indicating sustained buying interest. Momentum indicators and oscillators, including the weekly RSI and MACD, also supported the ongoing uptrend. The brokerage said the broader technical setup pointed to the possibility of an extended rally, with the stock potentially moving towards ₹207 and subsequently ₹229. It identified ₹159 as a crucial positional support level.
First entry level: ₹6,051
Second entry level: ₹5,700
First target: ₹6,741 (11% upside)
Second target: ₹7,464 (23% upside)
Centrum said Persistent Systems continued to maintain a constructive long-term technical structure, trading comfortably above its key short- and long-term moving averages. The weekly chart indicated sustained positive momentum, with the 50-week moving average around ₹5,475 and the 200-week moving average near ₹4,540 acting as important support references. Momentum indicators remained in bullish territory, with the weekly RSI around 63 and MACD maintaining a positive bias. The stock was approaching its previous resistance zone of ₹6,400–6,500. A decisive breakout above this range could open the way towards ₹6,741 and ₹7,464, while ₹5,180 remained an important positional support.
Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint. We advise investors to check with certified experts before making any investment decisions.
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