Diwali Muhurat Stock Picks: From TCS To L&T — Angel One Shortlists Top Five Bets For Samvat 2082

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Angel One Report

Angel One remains sanguine on markets for this SAMVAT and expect the market to come out of its long slumber phase to reach new heights. Sectorally, the heavyweight space banking is likely to contribute heavily with the help of pro-active RBI governor.

Also, the laggard IT basket has now reached its strong support and hence we expect some relief in the coming months.

Apart from this, auto, fmcg and consumer durable are likely to perform well going forward.

Angel One recommends five technical stocks for this Samvat 2082.

TCS

Tata Consultancy Services Ltd. has experienced a substantial decline, having fallen nearly 25 percent in the current calendar year, and is currently situated near a significant historical support zone, indicating a favorable risk-reward ratio.

The daily chart reveals a bullish divergence between the price action and the 14-period Relative Strength Index (RSI), which suggests an initial indication of a potential counter-trend.

Additionally, the MACD histogram has reached historically low levels, representing extreme oversold conditions that may signal the potential for a significant reversal.

Moreover, TCS has underperformed in comparison to its respective index, showcasing a deviation that may present an opportunity for a relief rally in the forthcoming period.

Hence, we recommend a Buy in TCS around 3000-2950 with a Stop Loss of Rs 2700 and a Target of Rs 3500-3600.

L&T

Since early 2024, Larsen and Toubro Ltd. has largely consolidated within a broad range of 3100–3900, establishing a strong base.

On the daily chart, the counter has decisively surpassed the recent resistance zone of 3700–3750, indicating renewed momentum.

The stock continues to exhibit a higher-top higher-bottom formation and remains firmly above all key moving averages on the weekly timeframe, a sign of sustained strength.

With the current setup pointing toward a breakout beyond its record highs, we recommend accumulating L&T in the 3750–3780 zone for a potential upside target of Rs 4300, while maintaining a stop loss at Rs 3520.

Bank of Baroda

The PSU banking space has been in the spotlight since the beginning of the September series, showcasing strong relative strength

After a brief consolidation phase, Bank of Baroda formed a solid base around the 230 zone and delivered a sharp rally towards 265 within just a month.

The chart setup remains robust, supported by sustained momentum and positive sectoral sentiment, indicating potential for continued outperformance.

We recommend buying in the 265–268 range for a potential upside target of Rs 340, while maintaining a stop loss at Rs 229.

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