Diwali 2026 Muhurat Trading Stocks: Investors preparing their portfolios for Samvat 2083 have six technical stock recommendations from HDFC Securities, with potential upside ranging from 19% to 28% over the period until the next Diwali. The brokerage’s Muhurat Trading Technical Picks report identifies opportunities across the oil and gas, IT, financial services, steel and credit sectors.
Along with two price targets for each recommendation, it has specified entry ranges, average levels and closing-basis stop losses to help investors track the suggested trades. HDFC Securities also cautioned that its report should not be the sole basis for investment decisions. Here are the six recommendations and the technical factors behind them.
1. BPCL: Target ₹342 and ₹366; stop loss ₹274; potential upside 20%
HDFC Securities has recommended BPCL in the ₹304–315 range, with an average level of ₹289. Its price targets are ₹342 and ₹366, while the closing-basis stop loss is ₹274.
The brokerage’s bullish view is supported by the stock’s broad consolidation base between ₹275 and ₹330 since March. BPCL has broken above a falling channel that had been in place between August and October and has formed higher lows around ₹277–280. An inverse head-and-shoulders pattern, with its head near ₹277, has also completed a breakout above the ₹296–300 neckline. The stock has moved above its 50-day exponential moving average, while weekly stochastic indicators have exited the oversold zone.
HDFC Securities said, “The Aug-Oct falling channel has been broken on the upside, with higher lows from 277-280. An inverse head and shoulders (head near 277) has formed since 8 Oct; today’s close above the 296-300 neckline completes it.”
2. HCL Technologies: Target ₹1,580 and ₹1,686; stop loss ₹1,250; potential upside 20%
The brokerage has recommended HCL Technologies in the ₹1,405–1,440 entry range, with an average level of ₹1,285. It has set price targets of ₹1,580 and ₹1,686, indicating a potential upside of 20%. The stop loss is ₹1,250 on a closing basis.
The stock has broken out of an inverted head-and-shoulders pattern on the weekly chart, accompanied by higher trading volumes. HCL Tech has also moved above key moving-average resistance and sustained those levels. The brokerage noted that the Nifty IT index had broken above its long-term moving averages, providing a supportive sector trend. Momentum indicators remain positive, with the weekly MACD above its equilibrium and signal lines and the weekly RSI above 50.
HDFC Securities said, “Stock price has broken out from inverted head and shoulder pattern on the weekly chart. Price breakout is accompanied with jump in volumes on weekly charts.”
3. IIFL Finance: Target ₹670 and ₹720; stop loss ₹510; potential upside 24%
IIFL Finance has an entry range of ₹578–600 and an average level of ₹535. HDFC Securities has set successive targets of ₹670 and ₹720, indicating a potential upside of 24%. The recommended closing-basis stop loss is ₹510.
The brokerage’s technical assessment points to a potential recovery after the stock corrected sharply from ₹640 to ₹513 and subsequently began building a base. Trading volumes have picked up, suggesting greater participation in the move. The stock has also formed a higher low and moved above its 21-day and 200-day moving averages, indicating an improvement in its short-term trend. The 14-week stochastic indicator has turned oversold, while a Doji candlestick pattern followed by buying during the current week adds to the possibility of a bullish reversal.
4. JSW Steel: Target ₹1,505 and ₹1,600; stop loss ₹1,195; potential upside 19%
HDFC Securities has recommended JSW Steel in the ₹1,340–1,383 range, with an average level of ₹1,235. The brokerage has assigned targets of ₹1,505 and ₹1,600, indicating a potential upside of 19%. Its closing-basis stop loss is ₹1,195.
The recommendation is supported by a breakout above a horizontal trend line on the weekly chart. The stock is trading above its 200-day exponential moving average and has been forming higher tops and higher bottoms, indicating a sustained upward trend. It is also positioned above key moving averages across time frames. The weekly RSI is above 50, while the MACD has moved back above the equilibrium line, suggesting positive momentum.
5. Satin Creditcare: Target ₹300 and ₹330; stop loss ₹220; potential upside 28%
Satin Creditcare offers the highest potential upside among the six picks. HDFC Securities has suggested an entry range of ₹256–265 and an average level of ₹230. Its targets are ₹300 and ₹330, while the closing-basis stop loss is ₹220.
The stock broke out of a prolonged consolidation range of ₹130–180 in June 2026, supported by above-average volumes. The move was accompanied by a positive moving-average crossover, with the 20-week simple moving average crossing above the 50-week average. After moving higher, the stock corrected between July and September to test ₹210. Its latest breakout from the recent range suggests the intermediate uptrend could resume. The 14-month RSI has also crossed 60, indicating strong momentum.
HDFC Securities said, “The breakout was accompanied with a positive MA crossover as the 20-week SMA moved above the 50-week SMA. The stock then gradually moved higher before pulling back in the months of July-September 2026 to test a low of 210.”
6. Zensar Technologies: Target ₹615 and ₹666; stop loss ₹469; potential upside 25%
HDFC Securities has recommended Zensar Technologies in the ₹533–548 entry range, with an average level of ₹495. The brokerage has set targets of ₹615 and ₹666, indicating a potential upside of 25%. The closing-basis stop loss is ₹469.
The technical outlook is supported by a higher-bottom reversal pattern around ₹416 in September. A strong bullish candle on the monthly chart in October indicated a possible end to the stock’s downtrend. Zensar is also approaching the upper end of a broader consolidation range of ₹425–550. The brokerage highlighted positive divergence in the 14-month RSI in September, which was subsequently confirmed by the stock’s sharp upward move.
The six recommendations cover the period until the next Diwali.
Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint. We advise investors to check with certified experts before making any investment decisions.
