Trading Muhurat 2024: Check Stock Picks, Trading Strategy and Expert Opinions

auspicious occasion of Muhurat trade Today marks the beginning of Samvat 2081, the Hindu New Year. As investors prepare to participate in that traditional 6:00 pm to 7:00 pm trading session, 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 is a cherished tradition where investors make symbolic 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 profit. Many people simply buy a few shares to mark the occasion, focusing on sentiment rather than immediate profit.”

HOW DID THE MARKETS PERFORM IN SAMVAT 2080?

The past year has been a banner year for Indian markets, with the Nifty index delivering an impressive 25% return, making India one of the best-performing markets in the world. The economy grew at a strong 8.2% in FY 2023-24 while inflation remained under control at 5.4%.

What made this achievement even more special was India’s growing prominence across all sectors. The country has made significant strides in smartphone manufacturing, aerospace, semiconductors, electric vehicles and artificial intelligence, underscoring its emergence as a global manufacturing and technology hub.

WHAT EXPECTS SAMVAT 2081?

Market experts paint an optimistic picture, but with some caution. While forecasts suggest that the number of markets could reach 28,400 by Diwali 2025, driven 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 selling by foreign investors to the tune of Rs 113,858 crore signals the need for careful investment planning.

INVESTMENT STRATEGIES

Amit Goel, CEO of MarketsMojo Group, suggests a two-pronged approach to investment planning. For long-term investors, he recommends focusing on sectors that will remain relevant over the next two decades: technology, healthcare, renewable energy and infrastructure. Meanwhile, those looking for short-term gains may want to consider consumer staples and consumer durables, which typically perform well during and after the holiday season.

SELECTION OF MUHURAT TRADING STOCKS

Religare Broking has identified several promising stocks for conservative investors. Their recommendations include BEL with a target of Rs 308-330, Federal Bank with a target of Rs 218-226 and Fortis with a target of Rs 665-680.

Samco Securities offers a broader view of stocks across different sectors. They highlighted HDFC Bank Ltd as a leader in the banking sector, Persistent Systems Ltd for its artificial intelligence 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 equities, precious metals present an interesting opportunity. Analysts suggest considering GoldBees ETF with a target price of Rs 83 (with 27% upside potential) and SilverBees ETF with a target price of Rs 150 (with 62% upside potential).

SMART TRADING STRATEGIES FOR NEW INVESTORS

The “buy the dip” approach continues to be popular among experts, who recommend looking for quality stocks during market corrections. Particular attention should be paid to large-caps and established mid-caps, with key support levels between 23,200-22,500.

Industry opportunities are also emerging. Banking stocks look promising on improving deposit growth, while cement stocks could benefit from higher government spending. In the pharma sector, companies like Sun Pharma and Cipla are showing good profit visibility.

While the festive spirit of Muhurat trading is important, it should not take precedence over sound investment principles. Consider this an opportunity to start or add to your long-term portfolio by maintaining a balance between different sectors and types of investments. Including some allocation to precious metals can provide protection against market volatility.

While markets may face short-term volatility, India’s long-term growth story remains intact. Dr. V.K. Vijayakumar of Geojit Financial Services advises investors to “focus on investing in specific stocks where the second quarter results were good and earnings are clear.”

Success in Samvat 2081 is likely to be achieved by maintaining a balanced approach that combines traditional wisdom with modern investment strategies. When participating in Muhurat trading, consider it not just as a ritual, but as a thoughtful step towards your financial prosperity in the coming year.