Diwali stock picks: TechM, Dr Reddy's, Kotak Bank among top largecap bets for Samvat 2083
Explore IDBI Capital’s top Diwali stock picks for Samvat 2083, including largecap shares from across various sectors and segments, with target prices.
- Nov 3, 2026,
- Updated Nov 3, 2026 1:03 PM IST
As Samvat 2083 begins, market experts sees a constructive outlook for Indian equities, supported by resilient domestic demand, improving corporate earnings and attractive valuations. Despite global uncertainties, elevated crude prices and foreign investor outflows, strong domestic institutional participation continues to support markets.
Following the recent correction, valuations have moderated, creating opportunities in fundamentally strong businesses. With Nifty-50 earnings expected to grow at 18 per cent in FY27 and 13 per cent in FY28, they advocate diversified portfolios and staggered accumulation to navigate volatility and capture long-term wealth creation opportunities. Here are top Diwali picks from IDBI Capital for investors:
Tech Mahindra | Buy | Target Price: Rs 2,170 | Stop Loss: Rs 1,380 Tech Mahindra Ltd is on the verge of all-time high breakout on the monthly charts. It has successfully surpassed its previous multiple key resistance levels, accompanied by a noticeable increase in trading volumes, highlighting strong demand and improving market sentiment. It has witnessed buying interest from 50 MSMA (Monthly simple moving average) indicating strong support which is currently placed around Rs 1,380 levels. The rising volume during these breakouts reflects increased market participation and reinforces the strength of the ongoing upward move. Overall, the technical outlook remains bullish, and hence we recommend buying Tech Mahindra in a range of Rs 1,780-1,810 for the target price of Rs 2,170.
Dr Reddy's Laboratories | Buy | Target Price: Rs 1,620 | Stop Loss: Rs 1,160 Dr Reddys Laboratories has witnessed a strong buying interest on the monthly timeframe from the support of Rs 1,160 levels which coincides with 50 MSMA, indicating buying interest at support levels and a positive shift in the overall price structure. It is on the verge of a strong range breakout with increasing volumes indicating potential uptrend and further possible up move. It is trading above its short-term, medium term and long term moving averages, highlighting positive momentum and strengthening the overall trend. Overall, the technical setup remains positive, supported by volumes, and stock trading above key moving averages. Hence we recommend buying DRREDDY in a range of Rs 1,350-1,370 for the targets of Rs 1,620.
Kotak Mahindra Bank | Buy | Target Price: Rs 540 | Stop Loss: Rs 395 Kotak Mahindra Bank Ltd has witnessed a strong breakout above Rs 460 levels on the weekly timeframes, indicating a positive shift in the overall price structure and signalling the potential continuation of the ongoing uptrend. It continues to form higher highs with the support placed at Rs 395 levels, reflecting sustained buying interest and strengthening bullish momentum. The RSI indicator is showing a positive upward trend, suggesting improving momentum and further supporting the bullish price structure. The technical outlook remains positive, backed by the weekly breakout, consistent higher-high formation and improving RSI momentum. Hence we recommend buying Kotak Mahindra Bank in a range of Rs 450-460 for the targets of Rs 540.
TVS Motor Company | Buy | Target Price: Rs 5,000 | Stop Loss: Rs 3,750 TVS Motor Company Ltd has witnessed strong buying interest around the 200-day SMA on the weekly charts, indicating the presence of strong support and sustained demand at lower levels. It is trading above its short-term, medium term and long term moving averages, reflecting positive momentum and an improving price structure. The current technical setup offers a favourable risk-reward opportunity, with a well-defined support zone near 3750 providing a suitable reference for risk management. We recommend buying TVS Motor in a range of Rs 4,150-4,250 for the targets of Rs 5,000.
Indian Hotels Company | Buy | Target Price: Rs 940 | Stop Loss: Rs 710 Indian Hotels Co Ltd has witnessed a narrow range breakout and is witnessing strong buying interest on the monthly charts, indicating healthy demand and the presence of strong accumulation. The weekly chart structure also remains positive as it has witnessed buying at support levels of Rs 710, suggesting improving price momentum and the potential for further upside. Additionally, trading volumes have been gradually increasing, reflecting growing market participation and strengthening buying interest. Overall, the technical outlook remains constructive and hence we recommend buying Indian Hotels in a range of Rs 800-820 for the targets of Rs 940.
As Samvat 2083 begins, market experts sees a constructive outlook for Indian equities, supported by resilient domestic demand, improving corporate earnings and attractive valuations. Despite global uncertainties, elevated crude prices and foreign investor outflows, strong domestic institutional participation continues to support markets.
Following the recent correction, valuations have moderated, creating opportunities in fundamentally strong businesses. With Nifty-50 earnings expected to grow at 18 per cent in FY27 and 13 per cent in FY28, they advocate diversified portfolios and staggered accumulation to navigate volatility and capture long-term wealth creation opportunities. Here are top Diwali picks from IDBI Capital for investors:
Tech Mahindra | Buy | Target Price: Rs 2,170 | Stop Loss: Rs 1,380 Tech Mahindra Ltd is on the verge of all-time high breakout on the monthly charts. It has successfully surpassed its previous multiple key resistance levels, accompanied by a noticeable increase in trading volumes, highlighting strong demand and improving market sentiment. It has witnessed buying interest from 50 MSMA (Monthly simple moving average) indicating strong support which is currently placed around Rs 1,380 levels. The rising volume during these breakouts reflects increased market participation and reinforces the strength of the ongoing upward move. Overall, the technical outlook remains bullish, and hence we recommend buying Tech Mahindra in a range of Rs 1,780-1,810 for the target price of Rs 2,170.
Dr Reddy's Laboratories | Buy | Target Price: Rs 1,620 | Stop Loss: Rs 1,160 Dr Reddys Laboratories has witnessed a strong buying interest on the monthly timeframe from the support of Rs 1,160 levels which coincides with 50 MSMA, indicating buying interest at support levels and a positive shift in the overall price structure. It is on the verge of a strong range breakout with increasing volumes indicating potential uptrend and further possible up move. It is trading above its short-term, medium term and long term moving averages, highlighting positive momentum and strengthening the overall trend. Overall, the technical setup remains positive, supported by volumes, and stock trading above key moving averages. Hence we recommend buying DRREDDY in a range of Rs 1,350-1,370 for the targets of Rs 1,620.
Kotak Mahindra Bank | Buy | Target Price: Rs 540 | Stop Loss: Rs 395 Kotak Mahindra Bank Ltd has witnessed a strong breakout above Rs 460 levels on the weekly timeframes, indicating a positive shift in the overall price structure and signalling the potential continuation of the ongoing uptrend. It continues to form higher highs with the support placed at Rs 395 levels, reflecting sustained buying interest and strengthening bullish momentum. The RSI indicator is showing a positive upward trend, suggesting improving momentum and further supporting the bullish price structure. The technical outlook remains positive, backed by the weekly breakout, consistent higher-high formation and improving RSI momentum. Hence we recommend buying Kotak Mahindra Bank in a range of Rs 450-460 for the targets of Rs 540.
TVS Motor Company | Buy | Target Price: Rs 5,000 | Stop Loss: Rs 3,750 TVS Motor Company Ltd has witnessed strong buying interest around the 200-day SMA on the weekly charts, indicating the presence of strong support and sustained demand at lower levels. It is trading above its short-term, medium term and long term moving averages, reflecting positive momentum and an improving price structure. The current technical setup offers a favourable risk-reward opportunity, with a well-defined support zone near 3750 providing a suitable reference for risk management. We recommend buying TVS Motor in a range of Rs 4,150-4,250 for the targets of Rs 5,000.
Indian Hotels Company | Buy | Target Price: Rs 940 | Stop Loss: Rs 710 Indian Hotels Co Ltd has witnessed a narrow range breakout and is witnessing strong buying interest on the monthly charts, indicating healthy demand and the presence of strong accumulation. The weekly chart structure also remains positive as it has witnessed buying at support levels of Rs 710, suggesting improving price momentum and the potential for further upside. Additionally, trading volumes have been gradually increasing, reflecting growing market participation and strengthening buying interest. Overall, the technical outlook remains constructive and hence we recommend buying Indian Hotels in a range of Rs 800-820 for the targets of Rs 940.