Diwali Muhurta Trading 2022: Despite volatility in global markets, banking stocks were strongly buying in Indian stocks. In fact, Dalal Street managed to finish higher for the sixth day in a row. The NSE Nifty closed 12 points higher at 17,576, while the BSE Sensex rose 104 points to end at 59,307. However, the Nifty Bank index outperformed Nifty and Sensex last week with a gain of 1.71 per cent in Friday’s session.
According to Share Market According to experts, global markets have been extremely volatile as investors worry that heavy rate hikes will push major economies into recession before inflation is contained, while a stronger dollar could wreak havoc in emerging markets as a result.
Muhurta Trading Strategy on Diwali 2022
On the technical outlook ahead of the Muhurat trading session, Rahul Sharma, Director, Head – Technical & Derivatives Research, JM Financial Services said, “Nifty is at a turning point at 17,600, above which we expect aggressive price action with a target of 18,000. 18,100 for the coming week. Nifty futures have seen a long rise of around 12 per cent in the last two trading sessions, while Bank Nifty has seen a long rise of around 10%. Normally, whenever we look like this The way the markets move decisively, expects good momentum above 17,600. Position sizing guides are advised to stay massive. FIIs in cash in last two sessions Buyers have turned while their shorts in index futures have dropped significantly since early October.”
Unveiling the Muhurta Trading Strategy for Short Term Traders, Ruchi Jain, Lead Research, 5paisa.com said, “Looking at the chart structure, the short term momentum still appears to be positive, and will continue till the index finds any significant support. Traders should continue to trade until breaks. who are performing poorly.”
muhurta trading shares
Speaking on Diwali Stock Picks – Stock Market Expert – Anuj Gupta, Vice President – Research at IIFL Securities and Ravi Singhal, CEO, GCL Securities, recommended 4 Muhurta trading stocks.
Anuj Gupta’s Diwali 2022 stock picks
1]Suzlon Energy: Buy on CMP, Target 11, stop loss 6.50
2]Electronics Mart: Buy at CMP, Target 102, stop loss 80
Ravi Singhal’s Muhurta Trading Stock Recommendations
3]Kotak Mahindra Bank: buy on from 1880 1890, target since 1940 1980, stop loss 1870
4]Punjab National Bank or PNB: buy on 40, target from 44 50, stop loss 38.50.
Disclaimer: The views and recommendations given above are those of individual analysts or broking companies and not of Mint.
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