Multibagger Diwali Stock Picks: Amid Diwali 2022 celebrations, stock market investors will be eagerly waiting muhurta trading session, which is scheduled from 6:15 pm to 7:15 pm today. Muhurat business is considered auspicious among investors as it also marks the beginning of a new Samvat. Hence, new investments are made with the expectation of huge returns with the advent of the new Samvat.
muhurta trading stock 2022
Anuj Gupta, Vice President – Research, IIFL Securities believes that a good number of stocks have delivered strong results and are expected to continue with positive quarterly numbers. Apart from this, some stocks are also making strong chart formation. IIFL Securities expert recommends 5 stocks that can emerge as one of the multibagger stocks in the next one year. Those 5 potential multibagger stocks are Federal Bank, Renuka Sugars, Coal India, DLF and Indian Hotels Company.
Here we list the detail reasons Anuj Gupta is giving on these potential multibagger stocks:
1]Federal Bank: Banking stock has formed higher Top Higher Bottom formation and South Indian Bank delivered strong Q2 results in the current fiscal. Positional investors can buy the stock during Muhurat trading today for next Diwali target 230 each level. He advised investors to accumulate on every major fall from the current levels.
2]Renuka Sugar: Experts from IIFL Securities believe that the demand for ethanol and higher exports of sugar may support the sugar stocks. He said that the shares of Renuka Sugars are looking strong on the chart pattern and it is also following the trend line. He advised the positional investors to buy Renuka Sugar Stock for one year target during today’s Muhurta trading session 120 each level.
3]Coal India Limited or CIL: Anuj Gupta of IIFL Securities said that Coal India is a dividend paying stock and the PSU company is also debt free. The stock is following the triangle formation on the chart pattern, which indicates a strong uptrend in the stock. Anuj Gupta said it could go up 500 per level from the current market price of 238 each level.
4]DLF: Rising demand for luxury real estate is supporting the stock as the real estate company has given strong quarterly numbers. Can buy stock at current levels for one year target Keep depositing up to 600 and above 265 levels, Anuj Gupta said.
5]Indian Hotel Company: On rising demand post-Covid, Tata Group hotels are expected to improve margins and other important aspects of the balance sheet. The stock is expected to continue its bullish trend as it is forming a ‘higher top higher bottom’ on the chart. You can buy shares at current levels during Muhurta trading today for the target of one year Keep depositing up to 500 and above 255 each level.
Disclaimer: The views and recommendations given above are those of individual analysts or broking companies and not of Mint.
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