Muhurat trading on Diwali 2025: From Swiggy to Anant Raj— PL Capital recommends 8 stocks with 28-58% upside potential

Stocks to buy: The Indian stock market benchmark — Nifty 50 — has gained around 3 per cent so far in October, indicating a revival in investors’ risk appetite on expectations of an earnings recovery from the current quarter (Q3FY26), driven by the GST rate cut, favourable growth-inflation dynamics, and festive demand. There are also expectations that foreign institutional investors (FIIs) will return to the Indian stock market after a 100 per cent US tariff on China.

Experts believe the Indian stock market can deliver healthy returns in Samvat 2082 if a trade deal between India and the US is finalised. Both countries have been engaged in negotiations, and of late, there have been indications that a trade deal could be finalised by November.

Considering the potential tailwinds, it appears to be an opportune time to invest in high-quality stocks for the long term.

Every year, investors buy stocks on the occasion of Diwali, believing that starting new investments during the "muhurat trading" period will bring prosperity and good luck for the year ahead.

This year, the special ‘Muhurat Trading' session will be conducted on Tuesday, October 21, between 1:45 pm and 2:45 pm.

Brokerage firm PL Capital (Prabhudas Lilladher) has listed eight Muhurat picks for Diwali 2025, including Swiggy, Anant Raj, TVS Motor, and HBL Engineering. Take a look:

Muhurat picks for Diwali 2025

Anant Raj | Previous close: ₹694.20 | Target prices: ₹940 and ₹1,100 | Stop loss: ₹645 | Upside potential: 58%

PL Capital highlighted that Anant Raj stock has recently experienced a notable surge, with significant volume participation, further strengthening the trend.

The stock has maintained a positive bias despite consolidation, accompanied by consistent volume participation, which anticipates a further upward move in the coming days.

The RSI has gained strength, and with much upside potential visible, it can continue the positive move further ahead.

"With the chart technically looking strong, we suggest buying the stock for upside potential targets of ₹940 and ₹1,100 levels, keeping the stop loss of ₹645," said the brokerage firm.

HBL Engineering | Previous close: ₹882.50 | Target prices: ₹1,100 and ₹1,250 | Stop loss: ₹780 | Upside potential: 42%

According to the brokerage firm, HBL Engineering, after experiencing a strong run-up, the stock witnessed a short period of correction, finding support near the upper band of the rising channel pattern at ₹825 on the daily chart.

Thereafter, it witnessed a decent consolidation with a maintained positive bias.

Currently, with a decent pullback, there are indications of a positive move. Due to significant volume participation being visible, the stock is anticipated to move upward in the coming days.

The RSI has cooled significantly from the overbought zone and is currently well-positioned, indicating a potential revival with a positive trend reversal that could signal a buy.

"With the chart technically well placed, we suggest buying the stock for upside targets of ₹1,100 and ₹1,250, keeping the stop loss at the ₹780 level," said PL Capital.

Hi Tech Pipes | Previous close: ₹118.55 | Target prices: ₹150 and ₹165 | Stop loss: ₹106 | Upside potential: 39%

PL Capital stated that Hi Tech Pipes stock has recently experienced a robust move from the 50-day EMA zone at ₹92, characterised by a strong uptrend.

Thereafter, with a short dip, it has formed a flag pattern on the daily chart.

Currently, with indications of a significant volume surge accompanied by positive price action, the bias has improved to anticipate another fresh round of upward movement in the coming days, as volume participation rises once again, according to the brokerage firm.

The RSI has cooled off significantly from the highly overbought zone and is currently well-positioned, having much upside potential with strength indicated.

"With the chart technically well placed and looking attractive, we suggest buying the stock for upside potential targets of ₹150 and ₹165 levels, keeping the stop loss of ₹106," said the brokerage firm.

Swiggy | Previous close: ₹ 435.55 | Target prices: ₹530 and ₹580 | Stop loss: ₹370 | Upside potential: 33%

PL Capital stated that Swiggy's stock has improved the overall trend over the last four months, with an ascending channel pattern evident on the daily chart.

After a short period of correction, the stock has stabilised near the important 50EMA at ₹418, which is also the base of the channel.

The RSI is well-positioned and has indicated a positive trend reversal, signalling a buy opportunity with visible upside potential.

"With the chart technically looking good, we suggest buying the stock for upside targets of ₹530 and ₹580 levels, keeping the stop loss of ₹370 level," said the brokerage firm.

Va Tech Wabag | Previous close: ₹1,424.80 | Target prices: ₹1,770 and ₹1,900 | Stop loss: ₹1,270 | Upside potential: 33%

PL Capital noted that Va Tech Wabag, after experiencing a brief period of correction, has approached the strong support zone at ₹1,390, where a double bottom pattern is visible on the daily chart.

A pullback has indicated improving bias, and the stock is anticipated to rise further in the coming days.

The RSI has corrected well and is currently well-positioned, indicating a positive trend reversal.

"With the chart pattern technically well-positioned and looking attractive, we suggest buying the stock for upside targets of ₹1,770 and ₹1,900 levels, keeping the stop loss of ₹1,270," said the brokerage firm.

V-Mart Retail | Previous close: ₹853.25 | Target prices: ₹1,030 and ₹1,130 | Stop loss: ₹730 | Upside potential: 32%

PL Capital stated that V-Mart Retail, having witnessed a strong surge past the 200-period SMA and 100-period SMA at ₹800, has strengthened the trend.

With a flag pattern formation on the daily chart, the stock has once again indicated a decent rise, accompanied by volume participation, suggesting a fresh round of upward movement in the coming days.

The RSI has surged, indicating that the positive move may continue further.

"With the chart technically looking good, we suggest buying the stock for upside potential targets of ₹1,030 and ₹1,130 levels, keeping the stop loss of ₹730," said the brokerage firm.

TVS Motor | Previous close: ₹3,490.30 | Target prices: ₹4,100 and ₹4,550 | Stop loss: ₹3,100 | Upside potential: 30%

TVS Motor has indicated a strong run-up since the last three to four years, with a strong bias maintained.

After witnessing a consolidation period for quite some time, TVS Motor has once again

started improving the bias to indicate a further rise in the coming days.

The RSI has corrected quite significantly from the overbought zone and is currently well-positioned.

"With the chart technically looking good, we suggest buying and accumulating the stock for upside targets of ₹4,100 and ₹4,550 levels, keeping the stop loss of ₹3,100 level," said the brokerage firm.

Hindustan Copper | Previous close: ₹344.55 | Target prices: ₹405 and ₹440 | Stop loss: ₹300 | Upside potential: 28%

PL Capital said that Hindustan Copper has made a robust move in the last month, from ₹245, maintaining a strong uptrend.

The RSI remains strong, and with some consolidation, or possibly after witnessing a short dip, it can continue its upward move further in the coming days.

"With volume participation on the rise and with the chart technically well poised, we can expect further gains and suggest buying and accumulating the stock for upside potential targets of ₹405 and ₹440 levels, keeping the stop loss of ₹300 level," said PL Capital.

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Disclaimer: This story is for educational purposes only. The views and recommendations expressed are those of the broking firm, not Mint. We advise investors to consult with certified experts before making any investment decisions, as market conditions can change rapidly and circumstances may vary.