Muhurat Trading Pick: In last year’s Muhurat Trading Pick, I | The Financial Analyst

Muhurat Trading Pick:

In last year’s Muhurat Trading Pick, I suggested “Devyani International” @Rs150/- to all the members of our community. Where all the segments including bonds and cryptos have generated a negative return this year, Devyani International made a 52-week high of 215 (44% ROI) and is currently generating a 28% ROI (pre-market Muhurat Trading session 2022) from our cost. This is a massive return on our investment and the scrip anchored itself firmly amidst the brutal storm. I’m more than grateful to everyone who trusted me with this pick last year, hope you’re content with the results. I will continue to not only hold my position in Devyani International for long term but will keep adding at every dip possible.

Unlike the past couple of years, this year I’m refraining from making any purchases for Muhurat trading since the market is not at an investable juncture. Thus, today we will not be buying anything on account of Muhurat Trading. Though our markets are inching towards the ATHs but we need to carefully understand the undercurrents of it. The entire rally in Nifty was majorly supported by Banks and IT sector on posting fantastic results. The reason for such great results has been the benefits these sectors received on account of rate hikes and Dollar appreciation respectively. But I expect poor results/ earning in the upcoming quarter, so it is advisable to sit on cash and wait for the best opportunity the market has to offer. Good luck!

Best,
Himalay Bhatia