Diwali Muhurat Trading 2024 LIVE Updates: Muhurat Trading is a special and meaningful trading event held during Diwali and marks the beginning of the Hindu New Year. This short trading session lasts for an hour in the evening and is believed to attract wealth, prosperity and luck for investors and traders.
Domestic benchmark indices, National Stock Exchange (NSE) and Bombay Stock Exchange (BSE) will hold their annual Muhurat Trading today (Friday, November 1) from 6:00 PM to 7:00 PM. This one-hour trading period is preceded by a 15-minute pre-opening session, scheduled from 5:45 PM to 6:00 PM.
The Samvat 2081 is here. Many investors find this an ideal time to recalibrate their financial strategies and make plans for the coming year. During Samvat 2080, the Indian stock market performed favorably due to robust economic growth and helpful government policies, despite challenges such as elections and global tensions. As Samvat 2081 begins, market momentum is expected to be sluggish, according to experts.
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Diwali Muhurat Trading 2024 LIVE: Technical Overview for Samvat 2081 by Rupak De, Senior Technical Analyst, LKP Securities
Technically, the Nifty 50 has formed a head-and-shoulders pattern break, indicating a bearish reversal for the short to medium term. The collapse below the neckline at 24,700 triggered a sharp sell-off as major players sided with the bears following the collapse of this key pattern. Moreover, Nifty fell below the Fibonacci retracement level of 38.2% (24,375), which served as an early warning of a bearish reversal.
Diwali Muhurat Trading 2024 LIVE: Top 5 Tech Picks from Religare Broking
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Diwali Muhurat Trading 2024 LIVE: Market Outlook for Muhurat Trading 2024
According to Anand James, Chief Market Strategies, Geojit Financial Services, Nifty 50 ended positive in 8 out of 10 Muhurat trading sessions in the last 10 years. Apart from that, in the last 10 years, Nifty 50 saw the next two months being positive 80% of the time. FIIs have remained net sellers for 5 of the last 10 October and have been net buyers for 7 of the last 10 November, which would add to the positive outlook for the next two months.
That said, caution continues to prevail, magnifying the virtues of smart stock selection. In 2022, the only year since 2020 with negative returns in the 30 days preceding the Muhurat trade, where Nifty 50 fell 1.18%, the next 30 days saw a rise of 4.86%.
Diwali Muhurat Trading 2024 LIVE: Trader Suggestion for 1-Hour Muhurat Trading by Bajaj Broking
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Diwali Muhurat Trading 2024 LIVE: Here’s everything you need to know about Muhurat Trading 2024 date and time
As per BSE’s notification, the Muhurat trading session is scheduled for November 1, 2024, from 6:00 PM to 7:00 PM. It is important that participants remember that all intraday positions are automatically closed 15 minutes before the end of the session, which requires careful consideration for trades executed on the same day.
Disclaimer: The above views and recommendations are those of individual analysts, experts and brokerage firms, not of Mint. We recommend that investors consult certified experts before making investment decisions.
