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Stocks to buy: Outlook bullish for Diwali week, top picks include Mahindra & Mahindra & Godrej Properties
Analysts flag Mahindra & Mahindra and Godrej Properties as top buy ideas ahead of Diwali week amid bullish Nifty breakout.
As the Diwali week approaches, the Nifty index has rallied almost 5% from late September lows and bank stocks continue to lead. According to SBI Securities’ technical team, Mahindra & Mahindra and Godrej Properties are among the short-list of stocks to watch and potentially buy for the week starting October 20. The technical breakout of Nifty combined with festival-led demand and favourable seasonal flows are cited as catalysts. Support zone is around 25,400-25,350; upside target near 26,730.