utsav

Presents

DIWALI
MUHURAT
TECHNICAL PICKS
#TarikeHamareTarakkiApki
#TarikeHamareTarakkiApki
With record-smashing vaccination, dropped COVID19 cases, businesses resuming back,
India is all set to unlock and ride the wave of economic growth. India has emerged as the
fastest-growing major economies in the world and is expected to be one of the top three
economies in the world over the next 10-15 years.

What does this mean for investors like you? utsav

These developments bring in an opportunity for you to celebrate Nivesh Utsav by investing
in India’s growth story to earn potential handsome returns.

#TarikeHamare
We have selected few stocks for buying this Diwali 2021 comprising stocks which have seen
Breakout/good accumulation in the short to medium term time frame. The selection list
consist of Large cap/Mid cap stocks, which has performed in line with market over last one
year and are trading above their breakout levels or near their major support levels.

We advice to buy the stocks in the recommended "Accumulation Range" which would cover
the downside risk of correction in market over near term or short term.

#TarakkiApki
Customers who invested in our research-backed Diwali Muhurat Picks of last year have
generated 54%* absolute returns from it.

Continue reading the report for long term investing ideas and celebrate this Nivesh Utsav.

*Returns as of 28th October 2021

Diwali Muhurat Technical Picks: Underlying Strategy
SAMVAT 2077 started off with a robust bull run led by outperformance in the broader market. While benchmark
Nifty has delivered a stellar return of more than 40% since the last Diwali till 24th October, Mid and Small Cap
Indices, too, have reported excellent performance and are up 66% and 79% respectively for the same period. The
broader market has outperformed the large cap universe in the last one year after a muted performance seen in
the calendar year 2018 and 2019. SAMVAT 2077 returns were broad-based primarily on account of better
participation witnessed across stock categories as well as sectors which was relatively narrow in the pre-
pandemic years.

Using technical charts, we have identified few stocks for you that can outperform the markets. These stocks are
selected from different sectors & from fundamentally sound companies which may help you to diversify your
investments.
Short Term Stock Picks
(Up to 1 year)

KEC Int. Ltd United Spirits Ltd Kolte - Patil Developers Ltd

CMP Target Upside CMP Target Upside CMP Target Upside

₹473 ₹535-565 27% ₹893 ₹970-1,050 25% ₹303 ₹340-365 32%
INVEST NOW INVEST NOW INVEST NOW

State Bank of India Ashok Leyland Ltd Minda Corporation Ltd

CMP Target Upside CMP Target Upside CMP Target Upside

₹503 ₹570-600 26% ₹141 ₹165-170 30% ₹147 ₹170-185 37%
INVEST NOW INVEST NOW INVEST NOW

CMP as on 28th Oct 2021

Short Term Stock Picks
(Up to 1 year)

Bharti Airtel Ltd ACC Ltd TCS Ltd

CMP Target Upside CMP Target Upside CMP Target Upside

₹691 ₹775-810 25% ₹2,289 ₹2,490-2,580 19% ₹3,424 ₹3,750-3,985 21%
INVEST NOW INVEST NOW INVEST NOW

SBI Cards Ltd Grasim Industries Ltd

CMP Target Upside CMP Target Upside

₹1,125 ₹1,275-1,330 24% ₹1,702 ₹1,885-1,950 21%
INVEST NOW INVEST NOW

CMP as on 28th Oct 2021

 We suggest buying and accumulating the stocks for SAMVAT 2078 in mentioned range for potential upside of 20% - 30%.

BUY BUY Target Target

STOCK CMP Upside
First Second First Second

KEC Int. Ltd 455 435 473 535 565 27%

United Spirits Ltd 870 820 893 970 1050 25%

Kolte - Patil Developers Ltd 290 265 303 340 365 32%

State Bank of India 485 465 503 570 600 26%

Ashok Leyland Ltd 135 128 141 165 170 30%

Minda Corporation Ltd 140 130 147 170 185 37%

Bharti Airtel Ltd 665 630 691 775 810 25%

ACC Ltd 2210 2130 2289 2490 2580 19%

TCS Ltd 3350 3260 3424 3750 3985 21%

SBI Cards Ltd 1100 1050 1125 1275 1330 24%

Grasim Industries Ltd 1670 1650 1702 1885 1950 21%

CMP as on 28th Oct 2021

 Last Year Returns of Diwali Technical Picks Nifty Returns
60
54.00%
50
40.00%
40

30 25.00%
20 18.00%
12.00%
10 8.30%

0
Muhurat Picks 2018 Muhurat Picks 2019 Muhurat Picks 2020

Our recommended Portfolio of stocks for Diwali in previous year s have given returns of 25% in 2018-19,
18% in 2019-20 and 54% in 2020-21 Whereas, Nifty has given returns of 8.3% in 2018-19, 12% in 2019-20 and 40% in 2020-21.
Technical stocks recommended last Diwali (Samvat 2077) – AMARAJABAT, MCX, IGL, JSWSTEEL, BHARTIARTL, ULTRACEMCO, KAJARIACER,
APLLTED, DABUR, HDFCBANK and BLUEDART all the stocks reached to the mentioned target prices and delivered 54% return.
 KEC Int. Ltd
• Since 2013, the stock is in strong
uptrend forming a series of higher tops CMP: Buy Range: Support zone: Upside:
and higher bottom 473 455-435 440-410 20%-27%

• With current close, the stock has

decisively broken out monthly “Multiple
Resistance Zone” of 470-480 levels
which reconfirms resumption of major
up trend

• On the yearly chart, the stock has

surpassed its past four years
consolidation range

• Volumes have been rising and were

above average in the initial uptrend

• The monthly and quarterly RSI has

given a bullish crossover indicating that
the momentum has turned positive

• The above analysis indicate an upside

of 535-565*
 United Spirits Ltd (MCDOWELL)
• Since past eight years the stock was
consolidating in a broad range (820- Buy Range: Support zone: Upside:
CMP: 893
400) representing strong accumulation 870-820 800-730 18%-28%

• This consolidation breakout is

confirmed on a Sept.21 quarterly
closing basis which signal resumption
of uptrend

• Stock is well placed above its 50-day,

100-day and 200-day SMAs’ which
reconfirms the strong up trend

• The monthly and quarterly Bollinger

Band buy signal indicates increased
momentum

• The monthly RSI is trending higher

indicating that the bullish momentum is
intact.

• The above analysis indicate an upside

of 970-1050*.
 Kolte - Patil Developers Ltd
• On the monthly chart, the stock has
witnessed an inverse Head & Shoulder Buy Range: Support zone: Upside:
CMP: 303
- reversal pattern breakout at 285 levels 290-265 255-220 23%-32%
on a closing basis

• This breakout is accompanied with

huge volume breakout which indicates
increased participation

• Stock is well placed above its 50-day,

100-day and 200-day SMAs’ which
reconfirms the strong up trend

• In addition to this , the monthly

Bollinger Band buy signals reconfirm
bullish sentiments ahead

• The monthly RSI has given a bullish

crossover at lower levels indicating
change of momentum to the upside.

• The above analysis indicate an upside

of 340-365*.
 State Bank of India
• After a steep correction, stock has
found support near the 61.80% Buy Range: Support zone: Upside:
CMP: 504
retracement levels indicating that the 485-465 450-425 20%-26%
bulls have entered into the stock.

• On the yearly chart, stock has given a

multi year resistance breakout at 300
levels whereas on the monthly
timeframe stock has bounced after
forming a big doji candle formation
indicating change of trend to the upside

• Volumes were strong when the stock

found support at lower levels indicating
accumulation at lower levels

• Momentum is expected to turn more

bullish as soon as the RSI gives a
bullish crossover.

• The above analysis indicate an upside

of 570-600*.
 Ashok Leyland Ltd
• With current close, stock has decisively
broken out its past ten months Buy Range: Support zone: Upside:
CMP: 141
“Consolidation Range” (140-100) at 140 135-128 125-115 26%-30%
levels indicating strong come back by
bulls

• On the yearly chart, the stock has

confirmed “Hammer” – trend reversal
pattern which signal increased
participation at lower levels

• Stock is well placed above its 50-day,

100-day and 200-day SMAs’ which
reconfirms the strong up trend

• The monthly and quarterly RSI is

trending higher indicating that the
momentum is quite strong even after
the breakout

• The above analysis indicate an upside

of 165-170*.
 Minda Corporation Ltd
• On the yearly chart, the stock is
consolidating within 60-220 levels but Buy Range: Support zone: Upside:
CMP: 148
recently the stock has rebounded 140-127 120-110 26%-37%
sharply from lower end support zone

• On the monthly chart, the stock has

observed shift of trend forming a series
of higher Tops and higher Bottoms

• With May’2021 close, the stock has

decisively broken out its earlier
resistance of 115 along with huge
volumes

• The stock recaptured its 50 and 100

day SMA which signal strength

• The monthly and quarterly strength

indicator RSI is in bullish mode and
quoting above 50 mark indicating rising
strength on larger time frame.

• The above analysis indicate an upside

of 170-185 *.
 Bharti Airtel Ltd
• Since the start of 2007, the stock was
consolidating with 560-220 levels Buy Range: Support zone: Upside:
CMP: 691
however with Sep.2021 close the 665-630 610-580 20%-25%
breakout was confirmed

• On the quarterly and yearly chart, the

stock is trending up forming a series of
higher Tops and Bottoms

• Rising volumes in past couple of years

signifies increased participation on
yearly breakout

• The monthly and quarterly Bollinger

Band buy reconfirm upside momentum

• The monthly and quarterly RSI is in

bullish mode and above 50 mark
indicating further strength

• The above analysis indicate an upside

of 775-810*.
 ACC Ltd
• On the monthly / yearly chart, stock has
decisively broken out its “Multiple Buy Range: Support zone: Upside:
CMP: 2289
Resistance” of 1900 levels on a closing 2210-2130 2070-1990 15%-20%
basis and sustaining above the same

• The stock has recaptured its 50 and

100 day SMA and sustaining above the
same

• On the daily and weekly time frame the

stock is in corrective mode which
remains as buying and accumulation
opportunity

• Strong support from 200 day SMA

(2033) signals sustained strength

• The monthly and quarterly RSI is in

bullish mode and above 50 mark
indicating further strength

• The above analysis indicate an upside

of 2490-2580 levels.
 TCS Ltd
• The stock is trending up on the long
term charts forming a series of higher CMP: Buy Range: Support zone: Upside:
Tops and Bottoms signalling strong up 3424 3350-3260 3200-3120 13%-20%
trend

• With past 3-4 weeks corrective move,

the stock is approaching towards its
previous breakout zone of 3400 levels
which remains a crucial support zone

• The stock is hovering around its 100-

day SMA (3496) which remains an
important support zone

• It is also well placed above 200-day

SMA (3312) representing bullish
sentiments on long term charts

• The above analysis indicate an upside

of 3750-3985*.
 SBI Cards Ltd
• Since Jan.2021, the stock is under
strong accumulation in an “Ascending Buy Range: Support zone: Upside:
CMP: 1138
Triangle” formation and the expected 1100-1050 1000-940 19%-24%
breakout range is around 1160 levels

• Currently the stock is trading near its

apex point and on the verge of
breakout

• As on the weekly and monthly time

frame the stock is trending higher
forming a series of rising bottoms
which signals rising participation on
dips

• The stock is well placed above its 20,

50, 100 and 200 day SMA which
supports bullish sentiments ahead

• The weekly RSI and Stochastic both

are in bullish mode which supports
upside momentum.

• The above analysis indicate an upside

of 1275-1330*.
 Grasim Industries Ltd
• The stock is in strong up trend across
all the time frames forming a series of CMP: Buy Range: Support zone: Upside:
higher Tops and Bottoms indicating 1702 1670-1650 1570-1500 17%-21%
sustained up trend

• On the quarterly chart, the stock has

witnessed “V” shape breakout at 1300
levels on a closing basis and is
currently moving in an upward sloping
channel on the weekly timeframe

• The stock is well placed above its 50,

100 and 200 day SMA which supports
bullish sentiments ahead

• The monthly and quarterly RSI both

are in bullish mode which supports
upside momentum.

• The above analysis indicate an upside

of 1885-1950*.
Disclosures:

The following Disclosures are being made in compliance with the SEBI Research Analyst Regulations 2014 (herein after referred to as the Regulations).

1. Axis Securities Ltd. (ASL) is a SEBI Registered Research Analyst having registration no. INH000000297. ASL, the Research Entity (RE) as defined in the Regulations, is engaged in the business of
providing Stock broking services, Depository participant services & distribution of various financial products. ASL is a subsidiary company of Axis Bank Ltd. Axis Bank Ltd. is a listed public company and
one of India’s largest private sector bank and has its various subsidiaries engaged in businesses of Asset management, NBFC, Merchant Banking, Trusteeship, Venture Capital, Stock Broking, the
details in respect of which are available on www.axisbank.com.

2. ASL is registered with the Securities & Exchange Board of India (SEBI) for its stock broking & Depository participant business activities and with the Association of Mutual Funds of India (AMFI) for
distribution of financial products and also registered with IRDA as a corporate agent for insurance business activity.

3. ASL has no material adverse disciplinary history as on the date of publication of this report.

4. I/We, authors (Research team) and the name/s subscribed to this report, hereby certify that all of the views expressed in this research report accurately reflect my/our views about the subject issuer(s) or
securities. I/We (Research Analyst) also certify that no part of my/our compensation was, is, or will be directly or indirectly related to the specific recommendation(s) or view(s) in this report. I/we or
my/our relative or ASL or its Associate does not have any financial interest in the subject company. Also I/we or my/our relative or ASL or its Associates may have beneficial ownership of 1% or more in
the subject company at the end of the month immediately preceding the date of publication of the Research Report. Since associates of ASL are engaged in various financial service businesses, they
might have financial interests or beneficial ownership in various companies including the subject company/companies mentioned in this report. I/we or my/our relative or ASL or its associate does not
have any material conflict of interest. I/we have not served as director / officer, etc. in the subject company in the last 12-month period.

Sr. No Name Designation E-mail

1 Rajesh Palviya Technical Analyst – (Head -Technical & Derivative) rajesh.palviya@axissecurities.in

2 Vaishnavi Jagtap Technical Analyst vaishnavi.jagtap@axissecurities.in
3 Raunaq Murarka Technical Analyst raunaq.murarka@axissecurities.in
4 Hemang Gor Derivative Analyst hemang.gor@axissecurities.in
5 Rahil Vora Derivative Analyst rahil.vora@axissecurities.in
6 Bharti Dixit Research Executive bharti.dixit@axissecurities.in

5. ASL or its Associates has not received any compensation from the subject company in the past twelve months. I/We or ASL or its Associate has not been engaged in market making activity for the
subject company.

6. In the last 12-month period ending on the last day of the month immediately preceding the date of publication of this research report, ASL or any of its associates may have:
i. Received compensation for investment banking, merchant banking or stock broking services or for any other services from the subject company of this research report and / or;
ii. Managed or co-managed public offering of the securities from the subject company of this research report and / or;
iii. Received compensation for products or services other than investment banking, merchant banking or stock broking services from the subject company of this research report;

ASL or any of its associates have not received compensation or other benefits from the subject company of this research report or any other third-party in connection with this report.
Disclaimer:

Nothing in this report constitutes investment, legal, accounting and tax advice or a representation that any investment or strategy is suitable or appropriate to the recipient’s specific circumstances. The securities and strategies discussed
and opinions expressed, if any, in this report may not be suitable for all investors, who must make their own investment decisions, based on their own investment objectives, financial positions and needs of specific recipient.
This report may not be taken in substitution for the exercise of independent judgment by any recipient. Each recipient of this report should make such investigations as it deems necessary to arrive at an independent evaluation of an
investment in the securities of companies referred to in this report (including the merits and risks involved), and should consult its own advisors to determine the merits and risks of such an investment. Certain transactions, including
those involving futures, options and other derivatives as well as non-investment grade securities involve substantial risk and are not suitable for all investors. ASL, its directors, analysts or employees do not take any responsibility,
financial or otherwise, of the losses or the damages sustained due to the investments made or any action taken on basis of this report, including but not restricted to, fluctuation in the prices of shares and bonds, changes in the currency
rates, diminution in the NAVs, reduction in the dividend or income, etc. Past performance is not necessarily a guide to future performance. Investors are advice necessarily a guide to future performance. Investors are advised to see Risk
Disclosure Document to understand the risks associated before investing in the securities markets. Actual results may differ materially from those set forth in projections. Forward-looking statements are not predictions and may be
subject to change without notice.
ASL and its affiliated companies, their directors and employees may; (a) from time to time, have long or short position(s) in, and buy or sell the securities of the company(ies) mentioned herein or (b) be engaged in any other transaction
involving such securities or earn brokerage or other compensation or act as a market maker in the financial instruments of the company(ies) discussed herein or act as an advisor or investment banker, lender/borrower to such
company(ies) or may have any other potential conflict of interests with respect to any recommendation and other related information and opinions. Each of these entities functions as a separate, distinct and independent of each other.
The recipient should take this into account before interpreting this document. The Research reports are also available & published on AxisDirect website.
ASL and / or its affiliates do and seek to do business including investment banking with companies covered in its research reports. As a result, the recipients of this report should be aware that ASL may have a potential conflict of interest
that may affect the objectivity of this report. Compensation of Research Analysts is not based on any specific merchant banking, investment banking or brokerage service transactions. ASL may have issued other reports that are
inconsistent with and reach different conclusion from the information presented in this report.
Neither this report nor any copy of it may be taken or transmitted into the United State (to U.S. Persons), Canada, or Japan or distributed, directly or indirectly, in the United States or Canada or distributed or redistributed in Japan or to
any resident thereof. If this report is inadvertently sent or has reached any individual in such country, especially, USA, the same may be ignored and brought to the attention of the sender. This report is not directed or intended for
distribution to, or use by, any person or entity who is a citizen or resident of or located in any locality, state, country or other jurisdiction, where such distribution, publication, availability or use would be contrary to law, regulation or which
would subject ASL to any registration or licensing requirement within such jurisdiction. The securities described herein may or may not be eligible for sale in all jurisdictions or to certain category of investors.
The Disclosures of Interest Statement incorporated in this document is provided solely to enhance the transparency and should not be treated as endorsement of the views expressed in the report. The Company reserves the right to
make modifications and alternations to this document as may be required from time to time without any prior notice. The views expressed are those of the analyst(s) and the Company may or may not subscribe to all the views expressed
therein. Copyright in this document vests with Axis Securities Limited.
Axis Securities Limited, Corporate office: Unit No. 2, Phoenix Market City, 15, LBS Road, Near Kamani Junction, Kurla (west), Mumbai-400070, Tel No. – 18002100808/022-61480808, Regd. off.- Axis House, 8th Floor, Wadia
International Centre, Pandurang Budhkar Marg, Worli, Mumbai – 400 025. Compliance Officer: Anand Shaha, Email: compliance.officer@axisdirect.in, Tel No: 022-42671582. SEBI-Portfolio Manager Reg. No. INP000000654

Term& Conditions:
This report has been prepared by ASL and is meant for sole use by the recipient and not for circulation. The report and information contained herein is strictly confidential and may not be altered in any way, transmitted to, copied or
distributed, in part or in whole, to any other person or to the media or reproduced in any form, without prior written consent of ASL. The report is based on the facts, figures and information that are considered true, correct, reliable and
accurate. The intent of this report is not recommendatory in nature. The information is obtained from publicly available media or other sources believed to be reliable. Such information has not been independently verified and no
guaranty, representation of warranty, express or implied, is made as to its accuracy, completeness or correctness. All such information and opinions are subject to change without notice. The report is prepared solely for informational
purpose and does not constitute an offer document or solicitation of offer to buy or sell or subscribe for securities or other financial instruments for the clients. Though disseminated to all the customers simultaneously, not all customers
may receive this report at the same time. ASL will not treat recipients as customers by virtue of their receiving this report.