Over the past 10 years, major Indian indices have delivered notable returns post-Diwali Mahurat trading day across 12, 6, and 3-month periods. Over a 12-month horizon, returns ranged between 11% and 17% in all major indices. The BSE Sensex recorded its best Mahurat-to-Mahurat performance in 2020-21, surging 39%. The only negative return came in 2019-20, ending marginally down 0.2%. Three out of ten years indices delivered double-digit annual returns. Overall, the Muhurat trading period has historically signalled strong market potential and remains a noteworthy window for investors.
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Axis Securities Report
As part of its Diwali Muhurat trading strategy, Axis Securities has unveiled its list of preferred technical picks for Samvat 2082 which includes India's leading digitial payment app, a drugmaker, an auto maker, a cement manufacturer, a banking major, PSU among others.
The brokerage expects these stocks to deliver potential upsides ranging from 25% to 56%, making them attractive bets for investors looking to capitalise on festive momentum.
India Nippon Electricals - potential upside 56%
On the yearly chart, India Nippon Electricals Ltd. has been trending within a medium-term rising channel since 2008, reflecting a sustained structural uptrend.
Recently, the stock took support at the lower band of the channel and bounced back sharply, now heading towards the upper band.
The stock is well-positioned to sustain its long-term uptrend, following a decisive breakout after eight years of extensive consolidation, signalling strong potential for future growth.
Moreover, the recent uptick in volume activity highlights renewed market participation and adds conviction to the breakout move.
The above analysis indicates an upside toward 1255-1455 levels.
Paytm - potential upside 37%
On the quarterly chart, since Jun’22, One 97 Communications Ltd. has been consolidating within 1,020-400 levels. However, with the previous quarter’s price action, the stock has decisively surpassed the “multiple resistance” zones at the 1,030 level on a closing basis.
This price action suggests the completion of a long-term base formation, with the previous resistance zone around 1,030 now expected to act as a crucial support level.
This bullish view is confirmed by the MACD indicator, which has registered a positive crossover above its zero line, signalling a significant shift in momentum to the upside.
The above analysis indicates an upside toward 1310-1505 levels.
Syrma - potential upside 48%
On the quarterly chart, Syrma SGS Technology Ltd. broke out above a horizontal consolidation zone that had persisted for the past eight quarters, with a strong bullish candle in Sep’25, signalling the start of a medium-term uptrend.
The breakout occurred in the 670–700 zone on strong volumes, turning the prior resistance into a key support level on any corrective dips.
Additionally, the monthly RSI continues to hold above its reference line, confirming a clear shift towards bullish momentum, reinforcing the positive outlook.
The above analysis indicates an upside toward 985-1080 levels.
NMDC - potential upside 45%
On the monthly and quarterly charts, NMDC Ltd. is trending higher, forming a series of higher tops and bottoms, which denotes a strong uptrend.
Multiple resistance zone breakout around 55 levels supported by a significant volume rise, which signals increased participation.
Following the breakout, the stock successfully retested the prior resistance zone, which has now turned into a strong support base, further validating the bullish trend.
Additionally, the monthly RSI is showing a clear shift towards bullish momentum, as it continues to hold above its reference line, further reinforcing the positive outlook.
The above analysis indicates an upside toward 90-105 levels.
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Also Read: Diwali Muhurat Stock Picks: Nykaa, Swiggy, SBI, Bajaj Finance Among LKP's Top Recommendations
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