Diwali Muhurat Trading 2023 Share: Livemint recommendation this 3 Stocks to Buy diwali muhurat treding

Muhurat Trading Strategy

According to market experts, the Nifty 50 index ended above the 19,400 level after strengthening around the 19,400 to 19,450 area. He said the market will go up until it crosses the barrier of 19,650 on a closing basis. Muhurat to buy on Diwali 2023 On trading stocks, experts recommended three stocks to buy for the short term – Tata Consumer Products, Grasim Industries, and NTPC.

Diwali Muhurat Trading 2023 Buy Share

1] Tata Consumer Products: 

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Tata Consumer Share is currently trading at ₹ 912.70 level and is displaying many positive technical indicators in its trading pattern. The Relative Strength Index (RSI) at 57 suggests that the stock is in a balanced position, neither overbought nor oversold, indicating a stable trend. Furthermore, the stock has crossed and closed above its 20-day exponential moving average (EMA), which is often considered a bullish sign. It is also trading above other major moving averages, which suggests that Lion’s price will have a strong uptrend.

There is a minor resistance level at 930 which is the all-time high for the stock, and if the stock breaks it and shows a strong candle above this level then it can potentially reach 960 levels and beyond for the stock. There will be a new all-time high.  With a medium-term target price of  ₹ 960, we recommend buying Tata Consumer shares at a CMP of  ₹ 912.70; It can also be added to the dip around ₹900. If the price closes below ₹ 890, our analysis will be considered invalid.

2] Grasim Industries: 

Grasim’s share price currently trading at ₹ 1945.65 has recently experienced a breakout from an ascending triangle pattern on its weekly chart, accompanied by substantial trading volumes. After the breakout, the price successfully retested the pattern. Over the past week, the stock had shown strong support at ₹ 1850 levels, indicating notable price stability.

Furthermore, Grasim share price is currently trading above key exponential moving averages (EMAs), which include 20-day, 50-day, 100-day, and 200-day EMAs. This underlines its bullish momentum and suggests the possibility of further price volatility. The Relative Strength Index (RSI) is currently at 57 and moving upwards, indicating increasing buying momentum. Additionally, the Stochastic Relative Strength Index (Stoch RSI) is displaying a positive crossover. This combination of technical factors suggests that Grasim’s share price has the potential to reach the target price of ₹ 2100 in the near term.

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3] NTPC: 

NTPC’s share price is currently trading at ₹ 242, while NTPC has shown a commendable performance by closing above its short, mid, and long-term moving averages, especially the 20, 50, 100, and 200-day exponential moving averages (EMA). Have done. , The Relative Strength Index (RSI) is at 58, indicating balanced momentum in the stock.

A key resistance level has been identified on NTPC stock 245, and a breakthrough at this point could bring a substantial bounce in the stock price. Looking at the current technical indicators and the consolidation observed, the stock appears to be in a favorable position for investors.

Keeping the above factors in mind, a strategic investment decision is necessary at the current levels. The anticipated upside, especially on breaking the consolidation at ₹245, supports the sentiment that the stock has promising prospects.

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Disclaimer: The views and recommendations given above are of individual analysts or broking companies and not of IPOGMP.NET, We recommend investors check with certified experts before making any investment decision.