Top 5 Diwali 2022 (Samvat 2079) Stocks to Invest in 2022: Technical Picks


Stock Recommendations
by 5paisa Research Team Last Updated: 2022-10-19T15:25:36+05:30

For our Diwali Picks, we have selected some promising stocks that, based on technical indicators, are robust and have the potential to provide attractive returns in the future.
 
So here are the top 5 Diwali Technical Picks that you can buy on Muhurat Trading: Diwali 2022.

1. ACE (Ideal Buy Zone 292-306) 

ACE is India's leading material handling and construction equipment manufacturer with the majority share in the mobile and tower cranes segment. The company has a consolidated presence in all key infrastructure, construction, heavy engineering, and industrial projects countrywide. 

The stock has formed a stage-1 consolidation base. Its RS Rating is holding in a volatile market and the stock is able to get support near its 50-DMA. It has an excellent EPS Strength of 91, indicating a strong earnings profile. 

2. COAL India (Ideal Buy Zone 241-253) 

COAL India is the single largest coal producer in the world. CIL functions through its subsidiaries in 84 mining areas spread over eight states of India. Coal India Limited has 350+ mines, of which 160+ are underground, 175+ opencast, and 20 mixed mines.  

The stock is breaking out of a stage-2(c) flat base. The stock is trading near its 52-week high and RS Rating is also near a new high. It has an excellent EPS Strength of 91, indicating a strong earnings profile. 

3. ICICI Bank (Ideal Buy Zone 867-910) 

ICICI Bank's business segments include retail banking, wholesale banking, Treasury, and others. It is India's second-largest private bank, with an asset base of around Rs 12T and a loan book size of more than Rs 8.5T. It has more than 5,500 branches. 

The stock broke out from the Consolidation base and traded in an ideal buy zone. It found good support near its 50-DMA. It has an excellent EPS Strength of 94, indicating a strong earnings profile. 

4. TCI (Ideal Buy Zone 804-844) 

(TCI) is India's leading integrated multimodal logistics and supply chain solutions provider with a market share of 15% in the organized logistics industry. With a growing network of over 1,400+ offices, 1.2 crores sq. ft. of warehousing space, and a strong team of 6,000+ trained employees, TCI has a strong presence in India. 

The stock is forming a stage-1 Cup-With-Handle base. Its RS line is trading higher and it has good buyer demand. It has an excellent EPS Strength of 91, indicating a strong earnings profile. 

5. Metro Brand (Ideal Buy Zone 940-987) 

Metro Brand is one of the largest Indian footwear & accessories specialty retailers. The company primarily follows the company-owned and company-operated (COCO) model of retailing through our Multi Brand Outlets (MBOs) and Exclusive Brand Outlets (EBOs).  

The stock is forming a stage-2 Cup base. Its RS line is trading higher and it has good buyer demand. It has an excellent EPS Strength of 83, indicating a strong earnings profile.
 

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About the Author

Our research team is composed of some highly qualified research professionals, their expertise range across sectors.

Disclaimer

Investment/Trading is subject to market risk, past performance doesn’t guarantee future performance. The risk of trading/investment loss in securities markets can be substantial. Also, the above report is compiled from data available on public platforms.

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