Samvat 2082 Rally Ahead? Angel One’s Top Diwali Stock Picks Revealed Ahead of Muhurat Trading 2025

Angel One has released its Diwali stock picks for 2025 based on technical analysis as India prepares to celebrate Diwali 2025 and the new Samvat 2082.

Nifty Outlook

"From a technical standpoint, we are placed at an interesting juncture. Our markets underwent a decent price correction during the early part of the current calendar year. We formed a good base around 22000 and then made a V-shaped recovery to reclaim 25500 quite swiftly. This was followed by some period of uncertainty which resulted in a consolidation phase for our markets. Now, if we take a glance at the daily chart meticulously, we can see a formation of 'Contracting Triangle' pattern in process. Once the prices move closer to the apex point, we tend to see a breakout on either side," said the technical research analysts of Angel One.

"Hopefully, considering the positive placement of momentum oscillator, the breakout happens in the upward direction. This price development, if combined with any positive trigger on the global front, we would see prices challenging all time high level of 26277 in coming months. As far as supports are concerned, 24500 - 24300 - 23900 are to be seen as major supports," they added.

Bank Nifty Outlook

"From a technical perspective, the index has demonstrated exceptional performance and has recently undergone a breakout from an "Inverse Head and Shoulders" pattern, suggesting a bullish trajectory. From a positional viewpoint, the breakout neckline established in the first quarter of the current fiscal year, situated around 53500, has effectively mitigated fluctuations within the index. This level is anticipated to provide robust support in the future. Furthermore, the 200 DSMA serves to reinforce the medium-term bullish structure," commented the technical research analysts of Angel One.

"On the flip side, upon examining the primary trend, it is anticipated that the index might experience significant upward movement once it surpasses the lifetime high of the 57630 subzone. This breach has the potential to reignite momentum, thereby facilitating progress toward the pattern target range of 58100 to 58500, viewed as a short to medium-term opportunity. While global uncertainties persist, Bank Nifty enters the festive season with a cautiously optimistic tone. Strong fundamentals, disciplined policy action, and a resilient structure position the index well for potential upside in the months ahead," they stated.

Stocks To Buy In Diwali 2025

'Here are the 5 technical stock picks by Angel One for Diwali 2025.

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.
• Buy in the 265-268 range for a potential upside target of Rs 340, while maintaining a stop loss at Rs 229.

L&T

• Since early 2024, the stock 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 LT in the 3750-3780 zone for a potential upside target of Rs 4300, while maintaining a stop loss at Rs 3520.

Syrma SGS Technology

• The stock posted a strong breakout on strong volumes and a breakaway gap above the prior swing high, has given a retest of the breakout zone, and is now trending higher.
• All major EMAs also continue to slope higher, with 20 & 50 EMAs acting as strong support on each minor retracement.
• The 14-day RSI also is in the bullish zone, taking support around the 50-level multiple times, suggesting a strong undercurrent of uptrend.
• Considering the above, recommend a buy ON SYRMA in the price range of 840-835, with a stop loss of Rs 750 and a target of Rs 1000.

TCS

• TCS 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.

Vedanta

• Vedanta has given a breakout across multiple timeframes, notably weekly and daily, indicating a strong uptrend in place.
• Post the breakout, the stock has now consolidated for quite a while and now is breaking out above that consolidation, suggesting resumption of the primary trend.
• Prices continue to trade above all major EMAs, with the 20 & 50 DEMA acting as strong support to any downturn recently.
• Considering the above, recommend a buy on VEDL in the price range of 475-480, with a stop loss of Rs 415 and a target of Rs 575.

Disclaimer

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