Over last 12 months Nifty/Nifty Midcap 100/Nifty Smallcap 100 indices have rallied 27%/45%/42% respectively. Though emergence of external factors,
especially geopolitical tensions across the globe, had a bearing on market’s performance, strong DII flows and retail investor participation kept the market
buoyant. Total demat count has surpassed 171mn mark in Aug’24 resulting in SIP inflows touching all-time high trajectory. DII flows of $40.8bn over 9MCY24
have surpassed CY23 flows worth $22.3bn.
Diwali 2024 Stock Picks by Master Capital Services
Let’s take a look at the top six technical and fundamental stocks for Diwali by brokerage FundsIndia Broking:
• HDFC AMC recently broke out of a key horizontal resistance level, supported by a surge in trading volumes. Prices are trading above the 34-week and 55-week
EMAs, reinforcing the bullish trend.
• Following the breakout, HDFC AMC witnessed a minor correctional pullback, which has brought the prices back to the breakout point. This pullback presents an
excellent opportunity for market participants to build fresh long positions, given the favorable risk-reward perspective.
• The overall bullish trend is being characterised by higher high and higher lows pattern on the broader time frame. Moreover, RSI is also staying well above 50 mark,
indicating sustained relative strength of prices.
