Choice Broking flags Bank of Maharashtra as Navratri buy

Choice Broking's executive director Sumeet Bagadia has named Bank of Maharashtra as a short‑term buy for the Navratri trading window. He advises entering around ₹82.75 and adding on dips near ₹80, with price targets of about ₹91 and ₹96. The broker flags ₹76 as a key support level; falling below it would call the bullish case into question. Over the past month the shares slipped roughly 2%, but they have risen 1.4% in three months, 19% in six months and 47% in the last year. Over five years the stock has delivered a 303% return. Its one‑year high reached ₹94.50 in June 2026, while the low of the previous year was ₹54.70 in October 2025. Technical charts show a sequence of higher highs and higher lows on the weekly timeframe, signalling an ongoing uptrend. The stock recently broke out of a sideways range, creating a demand zone where buyers have repeatedly stepped in. It also trades close to its 20‑week exponential moving average, and the relative strength index stays above the 50 mark, confirming bullish momentum. Bagadia notes that the Navratri festival runs from October 11 to October 20, 2026, and that traders often look for opportunities during this period. Holding above the ₹76 floor is essential for the forecast to stay intact.

Context

Navratri is a nine‑day Hindu festival that often sees heightened market activity as investors adjust positions. Tools such as the 20‑week EMA and the RSI are widely used to judge trend strength in Indian stocks. Public‑sector banks like Bank of Maharashtra typically attract retail interest during festive seasons.