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The festive season of Diwali often encourages investors to look for strong opportunities in the stock market, and this year is no different.

Rajesh Palviya has highlighted the Bombay Stock Exchange (BSE) as his preferred pick from a Domestic Institutional Investor (DII) perspective.

According to him, BSE has shown impressive technical recovery after nearly three months of correction. The stock, which had been consolidating for a while, is now forming a bottom on the lower side and displaying signs of a reversal.

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Technical charts also confirm this positive trend. The daily chart shows that BSE has given a breakout above the falling trend line, which is usually an indication that selling pressure is reducing and fresh buying is emerging.

The stock has also managed to sustain itself above the 20-day moving average, adding strength to the bullish view. Palviya believes these are clear signals that the stock is regaining momentum and could move higher from current levels.

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For investors looking to take a position this festive season, Palviya recommends buying BSE with a clear strategy.

He has set a positional target of Rs 2,600 or 17 per cent upside from current levels, which reflects his confidence in the stock’s ability to deliver meaningful returns.

At the same time, he stresses the importance of risk management. A stop loss of Rs 2,070 has been advised so that investors can protect their capital in case the trade does not go as expected.

This balance of a well-defined target and disciplined stop loss makes the idea more suitable for medium-term investors who want both safety and growth.

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Anubhav Maurya

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