Six Stock Picks Announced by HDFC Securities for Samvat 2083

Investors looking for portfolio ideas for Samvat 2083 have six technical stock picks from HDFC Securities, with expected gains between 19% and 28% through the next Diwali. The brokerage report covers the oil and gas, IT, financial services, steel and credit sectors, providing entry ranges, price targets, average levels, and stop losses for each trade.

Sector Picks

BPCL is recommended in the ₹304 to ₹315 range, backed by a consolidation base, a falling channel breakout, and an inverse head-and-shoulders pattern with targets at ₹342 and ₹366 and a stop loss of ₹274. HCL Technologies is picked for the ₹1,405 to ₹1,440 range with a 20% upside target up to ₹1,686, supported by weekly chart breakouts and positive momentum indicators. IIFL Finance has an entry range of ₹578 to ₹600 with targets of ₹670 and ₹720 following a sharp correction and subsequent base building. JSW Steel is suggested in the ₹1,340 to ₹1,383 range with targets up to ₹1,600 and a stop loss of ₹1,195, driven by a horizontal trend line breakout. Satin Creditcare offers the highest potential upside, with an entry range of ₹256 to ₹265, targets of ₹300 and ₹330, and a stop loss of ₹220 after breaking out of a prolonged consolidation range. Zensar Technologies is recommended between ₹533 and ₹548 with targets of ₹615 and ₹666, supported by a higher-bottom reversal pattern and a strong monthly bullish candle.

Context

Muhurat Trading is a special one-hour trading session conducted across Indian stock exchanges on Diwali to mark the beginning of the Hindu calendar year, Samvat. Brokerages routinely issue technical picks ahead of this period to help retail investors plan their equity allocations for the coming year. Technical analysis involves studying past price movements and trading volumes to forecast future stock trends rather than relying solely on company financial statements.