Nifty’s Path to 23,400: Experts Predict Breakout Amid Market Momentum

  • Nifty’s Momentum: Analysts foresee Nifty hitting 23,400 this week, backed by a breakout from a three-month consolidation period. This swift recovery indicates a strong market structure.
  • Market Outlook: Despite anticipated volatility due to general elections and Q4 earnings season, the market is on an upward trend. Investors are advised to focus on long-term growth, with support levels noted at 22,400.

Recommendations by Experts:

  1. Dharmesh Shah (ICICI Securities):
    • Nifty Analysis: Shah predicts Nifty’s ascent to 23,400, emphasizing strong market breadth and global market support.
    • Investment Strategy: Investors should utilize retracements for portfolio building. Recommended sectors include BFSI, PSU, capital goods, and energy. Top picks are Reliance, SBI, L&T, among others.
  2. Rajesh Palviya (Axis Securities):
    • Nifty Outlook: Palviya observes a bullish trend, expecting Nifty to rise towards 23,400-23,500 upon sustaining above 23,200.
    • Investment Strategy: Suggested stocks for potential growth include BEL, Ashok Leyland, and HDFC Bank. He advises traders to adopt a moderately bullish approach with strategic options trading.
  3. Apurva Sheth (SAMCO Securities):
    • Nifty Projection: Sheth notes Nifty’s breakout from consolidation but warns of resistance near 23,000.
    • Investment Insight: Recommends considering Bank Nifty for potential gains, with targets set at 50,000. Additionally, suggests midcap stocks like RCF and Blue Dart for short-term trades.

Disclaimer: The views and investment tips expressed by investment experts on Sharepriceindia.com are their own and not those of the website or its management. Sharepriceindia.com advises users to check with certified experts before taking any investment decisions.​​

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