On Diwali (November 4), the stock markets will open for one hour on Muhurta trading. Investors will be able to buy and sell shares on BSE and NSE from 6.30 pm to 7.15 pm. Muhurta trading takes place every year on Diwali. During this, stock brokers trade for one hour after Lakshmi Puja. During this block deal session takes place before normal trading. Trading is closed after one hour trading session. Last year, during Muhurta trading, the Sensex closed at its peak with an increase of 145 points, while the Nifty closed below 12,800.
According to the notification of NSE, this time on November 4, the block deal session will start at 6.45 pm and will end at 6.00 pm. After this there will be a pre-open session which will last for eight minutes from 6 am to 6 pm. The normal market will be open from 6.15 pm to 7.15 pm. After this there will be call auction Illiquid session and closing session. All trades on Diwali Muhurta trading session will be completed only after settlement obligation.
Why Muhurta Trading happens?
Muhurta trading has special significance. It is considered to be the beginning of Vikram Samvat. Investors believe that trading during this period brings profit and money throughout the year. The practice of Muhurta trading started in 1957 in BSE and 1992 in NSE. Looking at the recent market movement, it seems that Sensex and Nifty will close strongly during this special trading session. This will be the beginning of Vikram Samvat 2078. The brokerage firm Choice Broking has recommended trading in certain stocks during Muhurta trading.
Tata Steel: BUY
Target: Rs. 1480/1700
Tata Steel is showing very good volume activity and is trading in its higher territory. According to Sumit Bagadia, ED, Choice Broking, there seems to be a scope for it to remain bullish in this long term. Apart from this, its price has traded above the simple moving average of 50 to 100 weeks. In this, the bullish trend seems to be getting support in the medium to long term. At present this stock is trading at Rs 1346.
HDFC BANK : BUY
Target: Rs. 1850/2130
Analysts say that HDFC Bank’s stock has taken good support at 61.8 per cent price extension and has gone above the 78.2 per cent rally of its earlier rally. In recent weeks it has gone above the swing of 1641. This stock is trading with good volume. This means that it will get stronger with resistance breakout. At present this stock is trading at Rs 1658.
Manappuram Finance: BUY
Target: Rs. 220/245
Sumit Bagadiya says that on the weekly chart, this stock has taken support on the ascending trendline and in the last session Bullish Engulfing pattern has been formed. It is sure to breakout later. It has shown great volume over the past few weeks. go beyond this
HCL Technologies : BUY
Target: Rs. 1370/1480
The shares of this giant IT company had risen 50 percent from April to the last week of September. But since then profit booking is visible in it. The stock has already taken support from its horizontal line. This suggests that it will take a reversal move in the price. Apart from this, it is trading above the daily moving average of 100 days. It has seen a positive trend for some time now. At present, this stock is trading at Rs 1163.
(The stock recommendations given in the story are those of the respective research analysts and brokerage firms. Financial Express Online takes no responsibility for the same. Investments in capital markets are subject to risks. Please consult your advisor before investing.)
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