Muhurat Trading 2024: Check timings, stock recommendations, all key details

Muhurat Trading today: The pre-opening session will begin at 5:45 PM, and all intraday positions will be automatically squared off 15 minutes before the session's close, necessitating careful planning for same-day trades.

In Short

• Muhurat Trading session takes place today from 6:00 pm to 7:00 pm
• Key stock picks include Macrotech Developers and TCS for traders
• Experts predict market levels could reach 28,400 by 2025

The stock market is gearing up for the annual Muhurat Trading session today, November 1, 2024, from 6:00 PM to 7:00 PM. The special one-hour event marks the beginning of Samvat 2081, the Hindu New Year, and traditionally attracts active participation from investors eager to mark the occasion.

The pre-opening session will begin at 5:45 PM, and all intraday positions will be automatically squared off 15 minutes before the session's close, necessitating careful planning for same-day trades.

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."

MARKET PERFORMANCE 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%.

The performance reflects India's growing prominence in various sectors, including smartphone manufacturing, aerospace, semiconductor production, electric vehicles, and artificial intelligence, highlighting its emergence as a global manufacturing and technology hub.

INSIGHTS ON SAMVAT 2081

Market experts project an optimistic outlook, suggesting that markets could reach 28,400 by Diwali 2025, driven by strong domestic demand and India's position as a global manufacturing hub.

However, caution is warranted due to recent market corrections of 6.2% in October and significant foreign investor selling amounting to Rs 113,858 crores. These factors signal the need for prudent investment planning.

WHERE TO INVEST?

Amit Goel, Group CEO of MarketsMojo, suggests a dual approach to investment planning. For long-term investors, focusing on sectors that will remain relevant over the next two decades—such as technology, healthcare, renewable energy, and infrastructure—is advisable.

For those seeking shorter-term gains, consumer goods and consumer durables are likely to perform well during and after the festive season.

STOCKS TO TRACK DURING MUHURAT TRADING

Several stocks are garnering attention from experts for this Muhurat Trading session.

Centrum Broking recommends Macrotech Developers at Rs 1,082 with a target of Rs 1,368, indicating a 26% upside. TCS is suggested for purchase in the range of Rs 4,085-3,900, with a target of Rs 4,650 and a stop loss at Rs 3,700.

Trent is another pick, recommended at Rs 7,150-6,950 with a target of Rs 8,900 and a stop loss at Rs 6,300. Jyoti Resins and Adhesive is recommended at Rs 1,457 with a target of Rs 1,930, offering a potential upside of 32%.

From Religare Broking, PTC India is suggested for buying at Rs 180-182, targeting Rs 237-241 with a stop loss of Rs 165-170. BHEL is another pick with a buy recommendation at Rs 232-235, targeting Rs 295-300 and a stop loss at Rs 212. NHPC is advised to be bought at Rs 82 with a target of Rs 108-110, and a stop loss at Rs 75.

HDFC Securities has also provided recommendations, including Axis Bank at Rs 1,189-1,210, with targets of Rs 1,332-1,403 and a stop loss of Rs 1,070. Karur Vysya Bank is suggested at Rs 214-218, targeting Rs 249-269 with a stop loss of Rs 183. Stylam Industries is recommended for purchase at Rs 2,195-2,230, with targets ranging from Rs 2,560-2,690 and a stop loss at Rs 1,880.

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

MUHURAT TRADING TIPS

While the festive spirit of Muhurat trading is significant, it shouldn't overshadow sound investment principles. This occasion is an excellent opportunity to start or add to your long-term portfolio, maintaining a balance between various sectors and investment types. Allocating some funds to precious metals can provide a safety net against market volatility.

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

(Disclaimer: The views, opinions, recommendations, and suggestions expressed by experts/brokerages in this article are their own and do not reflect the views of the India Today Group. It is advisable to consult a qualified broker or financial advisor before making any actual investment or trading choices.)