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Time of India
4 days ago
- Business
- Time of India
Nifty's breakout above 25,150 to pave way for 25,500: Analysts
Nifty may continue its consolidation phase this week, as the index faces key resistance around the 25,100–25,150 zone. A breakout above this range could pave the way toward the 25,500–25,700 levels. On the downside, 24,500–24,600 is seen as a strong support zone. Analysts believe that any dips from current levels could be used to accumulate quality stocks, particularly in the financials, infrastructure, capital goods, and PSU-linked sectors. DHARMESH SHAH HEAD OF TECHNICAL, ICICI SECURITIES Where is Nifty Headed This Week? Nifty underperformed global peers last week. Its weekly price action formed a small bearish candle, suggesting an extended breather. We expect the index to continue consolidating in the 24,500–25,100 range, with a positive bias. The index has sustained above its 20-day moving average, and the formation of higher highs and higher lows, along with improving market breadth, suggests that a breakout above 25,100 is likely, with a target of 25,500 in June. Trading Strategies for the Week: Volatility is expected to subside as the earnings season concludes, and attention shifts to the upcoming RBI policy. Sectors such as BFSI, auto, capital goods, realty, oil & gas, and metals are expected to be in focus. Dips should be viewed as buying opportunities, with strong support at 24,200. Stock picks include Reliance, SBI, Axis Bank, DLF, L&T, Tata Steel, HPCL, and Adani Ports (5–6% upside potential). Mid-cap picks include Indian Bank, L&T Finance, Elgi Equipment, HEG, and JK Cement (8–10% potential). SUDEEP SHAH HEAD - TECHNICAL AND DERIVATIVE RESEARCH, SBI SECURITIES Where is Nifty Headed This Week? Nifty posted its lowest monthly range in 10 months, a sign that often precedes sharp directional moves. Despite the tight trading band, the index closed the month on a positive note, marking its third consecutive monthly gain. Strong rollovers suggest continued investor confidence. Seasonality trends are also favourable—June has ended in the green in 11 out of the last 18 years, with an average gain of 4.19%. Technically, 25,050–25,100 is the immediate resistance zone; a sustained breakout could trigger a rally to 25,500–25,700. On the downside, 24,500–24,550 is a key support, followed by the 50-day EMA near 24,100. Trading Strategies for the Week This consolidation phase presents a good opportunity for long-term investors to accumulate quality largeand mid-cap stocks. Traders should focus on PSU banks, financials, capital markets, PSEs, and realty, which may outperform in the near term. Large-cap ideas include HDFC Bank, Pidilite, PNB, and Bank of Baroda. In the mid-cap segment, Muthoot Finance, Manappuram, Cummins, NBCC, and HUDCO are expected to perform well. TANMAY SHAH HEAD OF RESEARCH, SIHL Where is Nifty Headed This Week? Nifty is showing signs of indecision amid global slowdown fears triggered by a 0.2% dip in US GDP— the first since 2022—raising concerns of possible stagflation. The index faces crucial resistance at 25,080. A breakout above this level could pave the way for a move towards 25,550. On the downside, 24,600 is expected to act as strong support, cushioning against further declines.. Trading Strategies for the Week With the market now focused on the upcoming MPC meeting, which broadly anticipating a rate cut, liquidity could improve, adding further stability. While valuations appear stretched, a 'buy-on-dips' approach could be prudent. Other sectors showing strength include metals, chemicals, housing finance, textiles, and infrastructure. Among large-caps, SBIN, Adani Ports, IOC, and UltraTech Cement look solid. In the mid-cap space, PB Fintech, Deepak Nitrite, and KEI Industries stand out, while Laurus Labs, NCC, and PNB Housing Finance offer small-cap potential.
Time of India
05-05-2025
- Business
- Time of India
Nifty could move higher towards 24,857–25,000: Analysts
Indian markets, which have shown resilience even amid geopolitical tensions, are likely to emerge from the current consolidation phase, with Nifty expected to move towards the 24,857–25,000 range in the coming days, according to technical analysts. However, a breach below the crucial support zone of 24,200–24,150 could trigger a deeper correction towards 23,800. Stocks such as HCL Tech, Coforge, Indian Oil, Reliance Industries, DLF, Godrej Properties, Bharti Airtel, Grasim, HDFC Bank, BEL, Abbott, CEAT, Navin Fluorine, and Bharat Dynamics are expected to show relative outperformance. JATIN GEDIA TECHNICAL RESEARCH ANALYST, MIRAE ASSET SHAREKHAN Where is Nifty headed this week? Nifty has been consolidating in the range of 23,847–24,589 after a 12% rally from the panic low of 21,743. We believe the consolidation has matured, and Nifty is now poised for resumption of an up-move towards 24,857–25,000 during the week. Despite geopolitical tensions, Nifty continues to climb showing resilience and suggesting that the Bulls have an upper hand. Supportive global cues and renewed buying interest from FIIs in the cash market are positive. Breach of crucial support zones of 24,200–24,150 shall lead to a deeper correction towards 23,800. Traders should continue to hold bullish bets with a trailing stop loss at 24,150. What should investors do? IT, oil & gas, PSU banks and realty sector stocks are likely to lead the next leg of the up-move. Traders should create a short-term diversified portfolio with stocks like HCL Tech, Coforge, Mphasis and Wipro, from IT sector. IOC, RIL and GAIL from oil & gas. SBI, Bank of India, Union Bank from PSU banks, and stocks like DLF and Godrej Properties can also be considered to be part of that portfolio. SUDEEP SHAH HEAD- TECHNICAL & DERIVATIVE RESEARCH, SBI SECURITIES Where is Nifty headed this week? The 200-day moving average (DMA) zone of 24,050-24,150 will act as immediate support. Below 24,050, the 20-day exponential moving average (EMA) at 23,750 will act as the next crucial support. On the upside, the 24,550-24,600 zone will act as a key hurdle. A sustained move above 24,600 could trigger a sharp rally towards 24,850, with the next target placed near the 25,100 mark. We expect the Index to consolidate with a positive bias. What could investors do? The current consolidation phase presents a strong opportunity for long-term investors to accumulate quality large-cap and mid-cap stocks at attractive prices in a staggered manner. We recommend traders focus on banking and financial, defence, cement and tyre spaces, which we expect to show relative outperformance in the coming weeks. Select large-caps such as Divis Lab, Bharti Airtel, Grasim, HDFC Bank, HAL, and IOC; and midcaps such as BEL, Abbott, CEAT, Navin Fluorine and Bharat Dynamics could witness relative outperformance SAMEET CHAVAN HEAD RESEARCH - TECHNICAL & DERIVATIVES, ANGEL ONE Where is Nifty headed this week? Nifty is facing some rejection around 24,400–24,500 for the last 6–7 trading sessions. A solid uptick on Friday beyond this zone was sold into. If there is any aberration on the global or domestic front, we may see a knee-jerk reaction of 500 – 700 points in the coming days. In any scenario, 23,800–23,500 should serve as a strong support zone for Nifty. On the flip side, once the dust settles, the Nifty is likely to reclaim 24,850 and move higher. What could investors do? Momentum traders should avoid carrying aggressive bets overnight on either side. One can adopt a stock-centric approach by following strict stop losses. We recommend buying Godrej Properties for a target of Rs 2,425 with a stop loss at Rs 2,145. On the flipside, a lot of midcap counters faced selling pressure on Friday and Aditya Birla Fashion is one of them. The stock sneaked below its 20-day EMA with the negative crossover in the RSI-smoothed oscillator. Aggressive traders can short around Rs 259 for a target of Rs 247. A strict stop loss can be placed at Rs 267.
