Muhurat trading 2024: Check stock picks, trading strategy and expert insights

Muhurat trading is not just a unique market session; it's a cherished tradition where investors make token investments to invoke the blessings of Goddess Lakshmi, the goddess of wealth.

In Short

• Muhurat trading marks the start of Samvat 2081 today
• Experts suggest cautious optimism for the upcoming Samvat 2081
• Investment strategies focus on technology, healthcare, and renewable energy.

The auspicious occasion of Muhurat trading is today, marking the beginning of Samvat 2081 - the Hindu New Year. As investors prepare to participate in this traditional trading session from 6 to 7 PM, let's dive into what market experts are saying and where they see opportunities in the coming year.

Muhurat trading is not just a unique market session; it’s a cherished tradition where investors make token investments to invoke the blessings of Goddess Lakshmi, the goddess of wealth. As Trivesh D, COO of Tradejini, explains, "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 remarkable for Indian markets, with the Nifty index delivering an impressive 25% return, establishing India as one of the world's top-performing markets. The economy grew at a robust 8.2% in FY 2023-24, while inflation remained under control at 5.4%.

What made this performance even more special was India's growing prominence across sectors. The country has made significant strides in smartphone manufacturing, aerospace, semiconductor production, electric vehicles, and artificial intelligence, underlining its emergence as a global manufacturing and technology hub.

WHAT'S IN STORE FOR SAMVAT 2081?

Market experts paint an optimistic picture, but with a dash of caution. While projections suggest markets could reach 28,400 by Diwali 2025, backed by strong domestic demand and India's strengthening position as a global manufacturing hub, there are challenges to navigate. The recent market correction of 6.2% in October, coupled with significant foreign investor selling of Rs 113,858 crores, signals the need for careful investment planning.

INVESTMENT STRATEGIES

Amit Goel, Group CEO of MarketsMojo, suggests a dual approach to investment planning. For long-term investors, he recommends focusing on sectors that will remain relevant for the next two decades: technology, healthcare, renewable energy, and infrastructure. Meanwhile, those seeking shorter-term gains might consider consumer goods and consumer durables, which typically perform well 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 of Rs 308-330, Federal Bank aiming for Rs 218-226, and Fortis with a target of Rs 665-680.

Samco Securities offers a broader perspective with picks across sectors. They've highlighted HDFC Bank Ltd as a banking sector leader, Persistent Systems Ltd for its AI and digital engineering capabilities, Piramal Pharma Ltd in the healthcare sector, and Tube Investments of India Ltd representing the manufacturing sector.

For investors looking beyond stocks, precious metals present an interesting opportunity. Analysts suggest considering GoldBees ETF with a target of Rs 83 (offering 27% potential upside) and SilverBees ETF targeting Rs 150 (with 62% potential upside).

SMART TRADING STRATEGIES FOR NEW INVESTORS

The 'Buy on Dips' approach continues to find favour among experts, who recommend looking for quality stocks during market corrections. Particular attention should be paid to large-cap and established mid-cap companies, with key support levels between 23,200-22,500.

Sector-specific opportunities are emerging as well. Banking stocks show promise due to improved deposit growth, while cement stocks might benefit from increased public spending. In the pharmaceutical sector, companies like Sun Pharma and Cipla demonstrate strong earnings visibility.

While the festive spirit of Muhurat trading is important, it shouldn't override sound investment principles. Consider this an opportunity to start or add to your long-term portfolio, maintaining a balance between different sectors and investment types. Including some allocation to precious metals can provide a safety net against market volatility.

While markets might face short-term volatility, the long-term India growth story remains intact. Dr. V K Vijayakumar of Geojit Financial Services advises investors to "focus on stock-specific investment where Q2 results have been good and earnings visibility is bright."

Success in Samvat 2081 will likely come from maintaining a balanced approach that combines traditional wisdom with modern investment strategies. As you participate in Muhurat trading, consider it not just as a ritual, but as a thoughtful step toward your financial prosperity in the coming year.