Muhurat Trading: Indian equities head into Samvat 2083 after a volatile year in which geopolitical shocks, tariff uncertainty, currency pressure and swings in crude oil tested investor confidence. Muhurat Trading will be in a special session between 2:20 to 3:30 pm today, November 8.
Corporate earnings have offered a source of confidence, with second-quarter profit growth strengthening across large-, mid- and small-cap companies, although some segments have benefited from temporary factors.
Valuations have also become more reasonable in parts of the market after a sharp de-rating, particularly among large- and mid-cap stocks, while small-cap valuations remain relatively elevated.
Against this backdrop, Centrum Finverse has identified five technical trading ideas for the new Samvat, with staggered entry levels, successive upside targets and defined stop-losses. The setups rely on improving price trends and momentum indicators, but investors should respect the stated risk levels.
Centrum maintained a positive technical view on BSE, citing a sustained higher-top and higher-bottom formation on the weekly chart. The stock had also found support at its rising trendline, which coincided with the 50-week moving average, creating an important support confluence. Momentum indicators and oscillators on the daily chart remained in bullish territory, while the stock continued to trade above its short- and long-term moving averages. The brokerage said the technical structure indicated the potential for a gradual move towards ₹4,328, with ₹3,000 acting as a crucial support level.