Nuvama identifies five stock picks for Samvat 2083 Muhurat trading
The brokerage selected Adani Energy Solutions, Coforge, KDDL, Punjab National Bank, and Zydus Lifesciences based on technical structures.
Nuvama Institutional Equities has identified five stocks for the upcoming Samvat 2083 Muhurat trading, according to reports by Mint and Business Today. The brokerage's Diwali 2026 picks include Adani Energy Solutions, Coforge, KDDL, Punjab National Bank (PNB), and Zydus Lifesciences.
The brokerage noted that the Indian market is entering the new Samvat year after a period of consolidation and divergence. Nuvama believes the risk-reward for Indian equities is improving due to attractive valuations and potential recovery triggers, despite previous pressure from foreign institutional investor selling and geopolitical tensions.
For Adani Energy Solutions, the brokerage noted a breakout from a three-year consolidation period in April 2026. It stated that a positive 50-week moving average crossover and a retest of the breakout zone offer an attractive risk-reward opportunity.
Coforge was highlighted for its relative strength, having achieved its highest weekly and monthly closing levels. Nuvama suggested the IT stock could lead the sector moving forward, noting it remained resilient even when the broader index hit new lows in July.
Regarding PNB, the brokerage said the stock is nearing a technical breakout as it tests a 15-year resistance trendline. It added that sustained higher lows suggest increasing buying interest which could trigger a long-term trend reversal.
KDDL showed a bullish setup after exiting a 30-month symmetrical triangle consolidation. Meanwhile, Zydus Lifesciences demonstrated momentum with its highest quarterly closing in September and relative strength approaching 2024 highs against the Nifty Pharma index.