Diwali 2025: 5 stock picks for Samvat 2082 by InCred Equities for up to 20-30% upside
InCred said that Premier Explosives has maintained a strong uptrend within a rising channel, pushing toward the upper boundary with clear higher highs and higher lows since its recovery in 2020.
- Oct 21, 2025,
- Updated Oct 21, 2025 11:30 AM IST
Indian stock markets are headed for a new Samvat 2082 on Tuesday, October 21 after Muhurat trading from 1.45 onwards. The special one-hour trading session will conclude at 2.45 pm. Market participants are expecting consumption led stocks to drive the sentiments at Dalal Street, thanks to sound fundamentals of the Indian economy and tailwinds from the economic reforms. Here are the top-5 stock picks by InCred Equities for the upcoming Samvat that may deliver 20-30% gains in the upcoming year.
Apollo Tyres | Buy Range: Rs 460-500 | Target Price: Rs 580 | Upside: 20%
The chart depicts a well-defined ascending channel over more than a decade, with price respecting both upper resistance and lower support multiple times (100-400 zone). Recently, the price is consolidating within a symmetrical triangle near the upper boundary of the channel suggesting a strong upmove can be possible on confirmation of breakout. Williams Alligator indicator is triggering a buy signal on monthly charts which augment the momentum in the coming months.
Canara Bank | Buy Range: Rs 120-130 | Target Price: Rs 156 | Upside: 25%
The price has convincingly broken above a decade-long horizontal resistance zone around Rs 110-115, which had repeatedly capped rallies since 2011. After this breakout, the stock has perfectly retested the former resistance as support, validating the breakout and providing a textbook entry opportunity for trend followers. MACD has just displayed a fresh bullish crossover and histogram is also turning positive pointing to a renewal of upward momentum and trend acceleration. All three Alligator lines are open and fanned upwards, indicative of an 'eating' phase—signaling an established, strong trend.
NESCO | Buy Range: Rs 1,320-1,360 | Target Price: Rs 1,655 | Upside: 23%
Price action of NESCO shows a multi-year ascending wedge with multiple successful tests of both the upper resistance and lower support levels with the most recent retest seen at Rs 1,250 levels. Volume remains steady through the rally, supporting positive participation. The absence of distribution on volume drops signals retention of demand at higher levels and minimization of selling pressure, favorable for continued price advance. The RSI remains above bullish support zones and shows an upward slope, further strengthening the bullish momentum for potential follow-through price action. The Williams Alligator remains widely fanned and fully aligned upward, signaling a clear 'eating phase'—confirmation of a prevailing strong trend at higher timeframes.
Sandur Manganese & Iron Ores | Buy Range: Rs 205-225 | Target Price: Rs 280 | Upside: 30%
Price has decisively broken above multi-year wedge resistance, marking a major bullish breakout after a prolonged consolidation, with retest confirmations at previous support and resistance points at Rs 150 levels. The Donchian Channel is expanding upward, confirming volatility is favoring the bulls and supporting sustained trend development at higher levels. All Williams Alligator lines are spread wide and aligned upward, confirming the 'eating phase' —a textbook sign of a strongly trending market. There is a clear expansion in volume, especially alongside the breakout, signaling robust market participation and institutional conviction behind the rally. MACD has flashed a fresh bullish crossover with both MACD and signal lines above zero, indicating renewed and strengthening upside momentum.
Premier Explosives | Buy Range: Rs 630-650 | Target Price: Rs 780 | Upside: 22%
The price has maintained a strong uptrend within a rising channel, pushing toward the upper boundary with clear higher highs and higher lows since its recovery in 2020. Recent candles show consolidation followed by a breakout retest at the lower channel line, which now acts as support—classic bullish behavior that sets the stage for continued upside. Volume has expanded significantly during breakout attempts and key uptrend candles, with recent bars showing sustained participation—these volume bursts confirm both institutional interest and the robustness of the upward move. The RSI has witnessed a hidden bullish divergence which along with a bullish MACD crossover confirms trend momentum and projects bullish continuity in the near term. All Williams Alligator lines are open and aligned upward, underscoring the 'eating phase'—a classic indication that a strong trend is live and should be ridden for the medium term.
Indian stock markets are headed for a new Samvat 2082 on Tuesday, October 21 after Muhurat trading from 1.45 onwards. The special one-hour trading session will conclude at 2.45 pm. Market participants are expecting consumption led stocks to drive the sentiments at Dalal Street, thanks to sound fundamentals of the Indian economy and tailwinds from the economic reforms. Here are the top-5 stock picks by InCred Equities for the upcoming Samvat that may deliver 20-30% gains in the upcoming year.
Apollo Tyres | Buy Range: Rs 460-500 | Target Price: Rs 580 | Upside: 20%
The chart depicts a well-defined ascending channel over more than a decade, with price respecting both upper resistance and lower support multiple times (100-400 zone). Recently, the price is consolidating within a symmetrical triangle near the upper boundary of the channel suggesting a strong upmove can be possible on confirmation of breakout. Williams Alligator indicator is triggering a buy signal on monthly charts which augment the momentum in the coming months.
Canara Bank | Buy Range: Rs 120-130 | Target Price: Rs 156 | Upside: 25%
The price has convincingly broken above a decade-long horizontal resistance zone around Rs 110-115, which had repeatedly capped rallies since 2011. After this breakout, the stock has perfectly retested the former resistance as support, validating the breakout and providing a textbook entry opportunity for trend followers. MACD has just displayed a fresh bullish crossover and histogram is also turning positive pointing to a renewal of upward momentum and trend acceleration. All three Alligator lines are open and fanned upwards, indicative of an 'eating' phase—signaling an established, strong trend.
NESCO | Buy Range: Rs 1,320-1,360 | Target Price: Rs 1,655 | Upside: 23%
Price action of NESCO shows a multi-year ascending wedge with multiple successful tests of both the upper resistance and lower support levels with the most recent retest seen at Rs 1,250 levels. Volume remains steady through the rally, supporting positive participation. The absence of distribution on volume drops signals retention of demand at higher levels and minimization of selling pressure, favorable for continued price advance. The RSI remains above bullish support zones and shows an upward slope, further strengthening the bullish momentum for potential follow-through price action. The Williams Alligator remains widely fanned and fully aligned upward, signaling a clear 'eating phase'—confirmation of a prevailing strong trend at higher timeframes.
Sandur Manganese & Iron Ores | Buy Range: Rs 205-225 | Target Price: Rs 280 | Upside: 30%
Price has decisively broken above multi-year wedge resistance, marking a major bullish breakout after a prolonged consolidation, with retest confirmations at previous support and resistance points at Rs 150 levels. The Donchian Channel is expanding upward, confirming volatility is favoring the bulls and supporting sustained trend development at higher levels. All Williams Alligator lines are spread wide and aligned upward, confirming the 'eating phase' —a textbook sign of a strongly trending market. There is a clear expansion in volume, especially alongside the breakout, signaling robust market participation and institutional conviction behind the rally. MACD has flashed a fresh bullish crossover with both MACD and signal lines above zero, indicating renewed and strengthening upside momentum.
Premier Explosives | Buy Range: Rs 630-650 | Target Price: Rs 780 | Upside: 22%
The price has maintained a strong uptrend within a rising channel, pushing toward the upper boundary with clear higher highs and higher lows since its recovery in 2020. Recent candles show consolidation followed by a breakout retest at the lower channel line, which now acts as support—classic bullish behavior that sets the stage for continued upside. Volume has expanded significantly during breakout attempts and key uptrend candles, with recent bars showing sustained participation—these volume bursts confirm both institutional interest and the robustness of the upward move. The RSI has witnessed a hidden bullish divergence which along with a bullish MACD crossover confirms trend momentum and projects bullish continuity in the near term. All Williams Alligator lines are open and aligned upward, underscoring the 'eating phase'—a classic indication that a strong trend is live and should be ridden for the medium term.