Diwali Muhurat trading 2026: Kotak Neo’s technical research team has recommended five stocks for Samvat 2083, including Bajaj Finance, ICICI Bank, JSW Steel, Bharat Electronics and Reliance Industries. The brokerage has set an upside target of up to Rs 1,800 for ICICI Bank and advised investors to adopt a staggered buying strategy in select stocks. The recommendations come after a prolonged period of correction and selling pressure in several stocks. According to Kotak Neo, select counters are approaching important technical support levels, while momentum indicators are showing early signs of recovery. The brokerage has maintained a positive outlook on the five stocks and suggested staggered accumulation at specified price levels, with stop-losses to manage downside risks.
Diwali 2026: Kotak Neo’s 5 technical Muhurat picks for Samvat 2083
| Stock | Action | Entry 1 (Rs) | Entry 2 (Rs) | Target (Rs) | Stop-loss (Rs) |
| Bajaj Finance Ltd. | Buy | 939 | 850 | 1,200 | 770 |
| ICICI Bank Limited | Buy | 1,398 | 1,300 | 1,800 | 1,200 |
| JSW Steel Ltd. | Buy | 1,246 | 1,200 | 1,475 | 1,150 |
| Bharat Electronics Ltd. | Buy | 370 | 350 | 410 | 340 |
| Reliance Industries | Buy | 1,165 | 1,100 | 1,400 | 1,050 |
Diwali Muhurat Trading 2026 Stock Picks
1. Bajaj Finance: Buy | Target Rs 1,200 | Stop-loss Rs 770
Stock to buy: Kotak Neo has recommended a BUY rating on Bajaj Finance, with a target price of Rs 1,200. The brokerage believes the stock is showing early signs of a potential trend reversal after witnessing sustained selling pressure over the past few months.
According to the technical research report, Bajaj Finance has corrected by more than 20 per cent from its peak. Following the prolonged decline, the stock is now trading near its 200-day Simple Moving Average (SMA), which is considered an important long-term technical support level.
The brokerage noted that momentum indicators are also showing early signs of recovery, indicating the possibility of a reversal from current levels.
Considering the overall technical setup, Kotak Neo believes the stock offers an attractive buying opportunity for positional traders, with a favourable risk-reward profile.
Buying strategy: Kotak Neo has recommended a staggered accumulation strategy. Investors can initiate 50 per cent of their position at current levels and add the remaining 50 per cent near Rs 850.
2. ICICI Bank: Buy | Target Rs 1,800 | Stop-loss Rs 1,200
Stock to buy: ICICI Bank is another stock on Kotak Neo’s technical Muhurat trading list, with a target price of Rs 1,800.
The brokerage said the stock found strong support near Rs 1,300 following a short-term correction and subsequently staged a sharp recovery.
The stock is currently trading comfortably above its 20-day and 200-day Simple Moving Averages, reinforcing its positive technical setup. Its price structure and momentum indicators suggest that the recovery has further room to extend, while the broader uptrend is likely to continue over the medium term.
Kotak Neo believes positional traders can maintain a positive bias in the stock as long as it sustains above Rs 1,200.
The brokerage has also suggested fresh buying at current levels and on declines towards the Rs 1,400-Rs 1,300 zone.
Buying strategy: Fresh buying can be considered at current levels, with additional accumulation on declines towards Rs 1,400-Rs 1,300.
3. JSW Steel: Buy | Target Rs 1,475 | Stop-loss Rs 1,150
Stock to buy: Kotak Neo has also recommended JSW Steel for Samvat 2083, with a target price of Rs 1,475.
According to the brokerage, the stock has corrected by more than 13 per cent from its all-time high over the past couple of months and is now approaching an important technical support zone.
On the daily chart, JSW Steel is trading near a key retracement level, indicating the possibility of a short-term trend reversal.
The brokerage also highlighted that the stock continues to maintain a higher-bottom formation on the weekly chart. This technical structure reinforces the broader positive trend and supports accumulation near crucial support levels.
Considering the overall technical setup, Kotak Neo believes positional traders can maintain a positive bias in the stock.
Buying strategy: Fresh buying can be considered at current levels, with further accumulation on declines towards Rs 1,200.
4. Bharat Electronics: Buy | Target Rs 410 | Stop-loss Rs 340
Stock to buy: Bharat Electronics (BEL) is among Kotak Neo’s preferred technical picks for Samvat 2083, with a target price of Rs 410.
The brokerage observed that the stock has consistently witnessed selling pressure at higher levels over the past few months, resulting in a correction of more than 20 per cent from its all-time high.
Following the prolonged decline, the stock is now trading near a crucial retracement support zone, which could provide a base for a potential recovery.
Kotak Neo further highlighted that the daily chart and momentum indicators are showing oversold conditions. This suggests that downside momentum may be losing strength and the stock could be poised for a meaningful rebound.
The brokerage said Rs 340 would act as a key support level for contrarian traders. As long as the stock sustains above this level, the possibility of a recovery towards Rs 410 remains strong.
Buying strategy: Kotak Neo has recommended initiating 50 per cent of the position at current levels and accumulating the remaining 50 per cent near Rs 350.
5. Reliance Industries: Buy | Target Rs 1,400 | Stop-loss Rs 1,050
Stock to buy: Reliance Industries is the fifth stock on Kotak Neo’s technical Muhurat picks list, with a target price of Rs 1,400.
The brokerage said the stock has consistently faced selling pressure at higher levels over the past few months and has corrected by more than 25 per cent from its all-time high.
However, after the prolonged correction, Reliance Industries is currently trading near an important support zone. Momentum indicators also suggest a strong possibility of a fresh uptrend from current levels.
According to Kotak Neo, the stock appears to have completed its corrective wave, raising the possibility of a fresh upward move.
Considering the overall technical setup, the brokerage believes positional traders can maintain a positive bias in the stock.
Buying strategy: Fresh buying can be considered at current levels, with further accumulation on declines towards Rs 1,100.
(Disclaimer: The above article is meant for informational purposes only, and should not be considered as any investment advice. ET NOW DIGITAL suggests its readers/audience to consult their financial advisors before making any money related decisions.)