Nifty Hits Record High: 26,277 and Rising
Nifty’s Ascent: Experts Predict Continued Gains, But Caution Remains Key
Mumbai, India – The Nifty 50 index is riding a wave of positive momentum, closing higher for the third consecutive week and achieving its best weekly gain in four months.Experts are optimistic about the index’s potential to reach new all-time highs, but they also advise investors to tread carefully and remain vigilant amidst global uncertainties.
The Bullish Outlook:
Several analysts point to a strong uptrend for the nifty. Rajesh Palviya,Head of Technical and Derivatives at Axis Securities,highlights the formation of a “long bullish candle” on the weekly chart,indicating strength and positive momentum. He believes that surpassing the June 2025 swing high suggests a likely move towards the all-time high of 26,277.
Ajit Mishra, SVP-Research at Religare Broking, echoes this sentiment, noting that the index has successfully surpassed its trendline resistance at 25,450 and the June high of 25,669. He anticipates a potential retest of the record high of 26,277, with a possible immediate resistance near 26,000.
Key Levels to Watch:
* Resistance: 25,800-26,000 (immediate hurdle), 26,000 (potential resistance), 26,277 (all-time high)
* Support: 25,450 (immediate support), 25,500-25,300 (support zone), 25,150 (stronger base), 25,084 (20-day SMA)
Strategic Recommendations:
While the overall outlook is positive, analysts emphasize the importance of a strategic approach:
* Buy-on-Dips: Both Ajit Mishra and Rajesh Palviya reccommend a buy-on-dips strategy, focusing on sectors with consistent earnings visibility.
* Sector Focus: Banking, Financials, FMCG, Automobiles, Capital Goods, and Real Estate are favored sectors. Rohan Shah, Technical Analyst at ASIT C mehta Investment, specifically highlights Hindustan Unilever, Colgate Palmolive, and Tata Consumer as stocks displaying positive chart structures.
* Fundamentally Sound Stocks: Ajit Mishra advises prioritizing fundamentally sound large and midcap stocks over smallcaps for long trades.
* Caution on IT and Export-Oriented Stocks: amidst global uncertainty,IT and export-oriented stocks may remain volatile. Rohan Shah also suggests avoiding media and IT sectors for long exposure due to persistent weakness.
Stocks to Watch (Bullish):
* Bharti airtel
* Hindustan Aeronautics
* L&T
* M&M
* Marico
* Phoenix Mills
* Prestige Estate
* Reliance
* Tata Consumer Products
* Titan