Market experts share metal stock picks and price targets for Samvat 2083

Market experts have released their top metal stock picks for Samvat 2083 following the Muhurat Trading session on Sunday. Investor sentiment has grown positive after a pre-Diwali bull run on Dalal Street, backed by easing Middle East tensions and Brent crude oil prices slipping below $100 per barrel. Analysts note that cooling crude costs and lower geopolitical tensions will drive manufacturing and infrastructure growth across Asia, Africa, Latin America, and China, boosting metal demand.

Stock Recommendations

Avinash Gorakshkar, founder of Avinash Mentor Research, states that choosing a metal stock depends on individual financial goals. For steady income beyond stock price changes, NMDC serves as a strong high-dividend option. For core growth supported by capital expenditure expansion, JSW Steel and Tata Steel are preferred, while Welspun Corp suits investors seeking mid-cap alpha returns. Anuj Gupta recommends JSW Steel as a top pick for balancing risk, domestic demand capture, and market leadership, citing low debt-to-EBITDA metrics and aggressive domestic capacity expansion. He advises pairing JSW Steel with NMDC to capture both primary growth and secondary diversified income.

Technical Targets

Mahesh M Ojha, vice president of research and business development at KC Securities, notes that JSW Steel shares carry a strong support level at 1,324 rupees and face resistance at 1,376 rupees. Breaking this resistance could push the stock toward 1,400 rupees, with experts advising a strict stop-loss at 1,324 rupees for both existing and fresh investors. For NMDC, Ojha places strong support at 68 rupees with an upside target of 78 rupees under the same stop-loss condition.

Context

Diwali and the traditional Muhurat Trading session mark the beginning of the Hindu calendar year Samvat, prompting retail and institutional investors to rebalance portfolios for long-term gains. Metal and infrastructure stocks typically experience heightened focus during periods of projected industrial growth because raw material consumption serves as a key indicator of economic expansion.