Diwali stock picks 2026: PL Capital recommends 10 stocks for Samvat 2083; Apollo Hospitals, DLF, Jindal Steel and more
As India prepares to celebrate Diwali this week, investors will welcome Samvat 2083 amid a challenging year for equities. Brokerage PL Capital’s Technical Research Desk has shared the stock picks for Diwali 2026 .
Samvat 2082 proved to be a challenging period for the Indian stock market, marked by heightened volatility, persistent foreign selling, short-lived rebounds, and significant correction in the benchmark indices. Persistent international and domestic headwinds created ongoing strain on equity valuations, testing investor resilience despite the solid foundation of India's long-term economic expansion.
Key factors suppressing market confidence in Samvat 2082 included intensifying geopolitical conflicts, elevated crude oil prices, climbing global bond yields, a strengthening US dollar, and ongoing sell-offs by Foreign Institutional Investors (FIIs). As a result, the key benchmark Nifty 50 index witnessed nearly 11 percent drop on year-to-date basis. The bearish sentiment extended beyond mega-cap stocks across the broader market.
As India prepares to celebrate Diwali this week, investors will welcome Samvat 2083 amid a challenging year for equities. Brokerage PL Capital’s Technical Research Desk has shared the stock picks for Diwali 2026. The report highlights 10 stocks selected based on technical indicators such as support levels, RSI reversals, breakout patterns, higher-low formations, and moving average support. Diwali Stock Picks 2026 by PL Capital
1. Apollo Hospitals: Buy, Target Price Rs 9,800 - 10,400 | Stoploss at Rs 7,000 The brokerage has set the target price for Apollo Hospitals in the range Rs 9,800 - 10,400 and a stoploss of Rs 7,000. It said the stock has recently witnessed a significant erosion from the Rs 9,050 zone and has shown signs of bottoming out near the 7,500 level with a significant revival visible to improve the outlook and expecting for further upward move in the coming days.
“The RSI has corrected well and is currently well positioned near the oversold zone with indication of a positive trend reversal to signal a buy with much upside potential visible and can carry on with the positive move further ahead,” it added. 2. DLF Ltd: Buy, Target Price Rs 860 - 960 | Stoploss at Rs 570 PL Capital has pegged the target price for DLF in the range of Rs 860 – 960 with a stoploss at Rs 570.
The stock has been in consolidation for quite some time, sustaining above the important 200EMA at the 623 level on the weekly chart & forming a higher bottom formation along with the VCP pattern in the daily chart. Currently having positive candle formation with volume participation to improve the bias, anticipating a further rise in the coming days. The RSI is well placed, and with a positive trend reversal indication having much upside potential visible, it can carry on with the positive move further ahead.
With the chart technically looking good, we suggest buying the stock for the upside targets of 860 and 960 levels keeping the stop loss at the 570 level. 3. GE Vernova T&D India: Buy, Target Price Rs 5,100 – 5,450 | Stoploss at Rs 3400 The brokerage has a target price in the range Rs 5,100 – 5,450 with stoploss at Rs 3400. It said the stock after a good consolidation near the Rs 4,200 zone has recently slipped and has hit the low near Rs 3,550 zone thereafter, with a significant revival with volume participation visible has once again improved the outlook anticipating to carry on with the positive move further ahead in the coming days.
“The RSI has arrived near the oversold zone and has indicated a positive trend reversal to signal a buy and with much upside potential visible, can gain significantly. With the chart technically well placed and looking attractive, we suggest buying the stock for the upside targets of Rs 5,100 and Rs 5,450 levels keeping the stop loss at the Rs 3,400 level,” the brokerage said. 4. HBL Engineering Ltd: Target Price Rs 1000 - 1080 | Stoploss at Rs 670
PL Capital has given a target price in the range of Rs 1,000-1,080 and a stoploss of Rs 670. The stock has witnessed a significant revival from the 650 zone and with a higher low formation on the daily chart has improved the bias sustaining above the confluence of 50EMA and 200-period MA at 750 zone and with bullish candle formation can anticipate for further upward move in the coming days. The RSI is well placed with upside potential visible and can carry on with the positive move further ahead.
“With the chart technically looking good, we suggest buying the stock for the upside targets of 1000 and 1080 levels keeping the stop loss at the 670 level,” it advised. 5. Jindal Steel: Buy, Target Price 1,290 – 1,360 | Stoploss at Rs 900 The brokerage has set the target price in the range Rs 1,290-1,360 with stoploss at Rs 900 for Jindal Steel. The brokerage said the stock has recently witnessed a significant correction and has taken support near the previous low made at 1000 zone forming a triple bottom pattern on the daily chart with currently indicating a consolidation to improve the bias expecting for further rise in the coming sessions.
The RSI has corrected well and has indicated a positive trend reversal from the oversold zone to signal a buy and with much upside potential visible, can carry on with the positive move further ahead. 6. Marine Electricals: Buy, Target Price 520 - 560 | Stoploss at Rs 355 For Marine Electricals, the brokerage has set target price in the range Rs 520-560 and stoploss at Rs 355. The stock has recently indicated a strong breakout above the 300 zone and has maintained the uptrend with currently having a higher low formation pattern on the daily chart has indicated a decent revival moving past the important 50EMA at 405 level to once again improve the outlook and can anticipate for further rise in the coming days.
The RSI has cooled off from the overbought zone and is currently well placed with a positive trend reversal confirmed and with upside potential visible can carry out with the positive move further ahead. “With the chart technically looking good, we suggest to buy and accumulate the stock for the upside targets of 520 and 560 levels keeping the stop loss of 355 level,” it added. 7. Shilpa Medicare: Buy, Target Price Rs 1230 - 1335 | Stoploss at Rs 765
Shilpa Medicare has a target price in the range Rs 1,230-Rs 1,335 with stoploss at Rs 765. The brokerage said the stock has indicated a strong uptrend in the last 7-8 months with recently having witnessed a short period of correction taking support near the 820 zone and with a decent revival visible has once again improved the outlook to anticipate for another fresh round of upward move in the coming days.
The RSI has corrected well from the overbought zone to arrive near the oversold zone with currently having indicated a positive trend reversal to signal a buy. 8. Syrma SGS Technology: Buy, Target Price Rs 1970 - 2120 | Stoploss at Rs 1290 The brokerage has pegged the target price in the range of Rs 1,970-2,120 and a stoploss of Rs 1,290. It said the stock has overall maintained a strong uptrend with series of higher low formation visible on the daily chart, and with currently after the short period of correction has taken support near the previous low of 1390 zone and has indicated a decent revival to improve the outlook and can anticipate for another fresh round of upward move in the coming days to carry on with the positive move further ahead.
9. TARIL: Target price Rs 385-440 with stoploss at Rs 260 PL Capital has set a target price in the range Rs 385-440 with stoploss at Rs 260 for TARIL. The stock has recently indicated a strong move from the strong support zone of 265 level and has resisted near the 360 zone with some correction witnessed, with currently taking support near the confluence of 50EMA and 200-period MA at 300 zone has indicated a bullish candle formation to improve the outlook once again anticipating for another fresh round of upward move in the coming days.
“With the RSI cooling off from the overbought zone, currently is well placed indicating a positive trend reversal signalling a buy and can carry on with the positive move further ahead. With the chart technically looking attractive, we suggest to buy and accumulate the stock for the upside targets of 385 and 440 levels keeping the stop loss of 260 level,” it added. 10. TD Power System: Target price Rs 870 – 940 and stoploss at Rs 580
The brokerage has set the target price in the range of Rs 870-940 and a stoploss of Rs 580. The stock has witnessed a significant run up in the last one year with series of higher low formation pattern visible on the daily chart maintaining the strong uptrend with recently having witnessed a short period of correction has taken support near the 620 zone and has indicated a decent revival to move above the resistance hurdle of 680 level to improve the outlook technically and once again can anticipate for another fresh round of upward move in the coming days.
“The RSI has corrected well from the overbought zone and is currently well positioned near the oversold zone with indication of a positive trend reversal to signal a buy and with much upside potential visible, can carry on with the positive move further ahead. With the chart technically looking good, we suggest buying the stock for the upside targets of 870 and 940 levels keeping the stop loss of 580 level,” the brokerage added.
Muhurat Trading 2026 date and time This year, BSE and NSE will hold one-hour Diwali Muhurat Trading session on Sunday, November 8, on the occasion of Laxmi Pujan. The exchanges said continuous trading in the equity segment will begin at 2.20 pm and run until 3.30 pm. Unlike regular trading days, when the equity market operates between 9.15 am and 3.30 pm, Diwali Muhurat Trading takes place during a one-hour special window.
Trading members will be able to log in between 1.15 pm and 1.50 pm, followed by a block deal window from 1.50 pm to 2.05 pm. The pre-open session will begin at 2.05 pm, with order entry for both limit and market orders permitted until 2.10 pm. Only limit orders will be accepted between 2.10 pm and 2.15 pm. The order matching and confirmation period is scheduled from 2.15 pm to 2.17 pm. This will be followed by a buffer period until 2.20 pm.
The exchange has scheduled continuous trading from 2.20 pm to 3.30 pm, although closing-auction processes will begin during the latter part of this window.
