Nifty could move higher towards 24,857–25,000: Analysts

Indian markets, which person shown resilience adjacent amid geopolitical tensions, are apt to look from the existent consolidation phase, with Nifty expected to determination towards the 24,857–25,000 scope successful the coming days, according to method analysts. However, a breach beneath the important enactment portion of 24,200–24,150 could trigger a deeper correction towards 23,800. Stocks specified arsenic 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 amusement comparative outperformance.

JATIN GEDIA
TECHNICAL RESEARCH ANALYST, MIRAE ASSET SHAREKHAN

Where is Nifty headed this week?
Nifty has been consolidating successful the scope of 23,847–24,589 aft a 12% rally from the panic debased of 21,743. We judge the consolidation has matured, and Nifty is present poised for resumption of an up-move towards 24,857–25,000 during the week. Despite geopolitical tensions, Nifty continues to ascent showing resilience and suggesting that the Bulls person an precocious hand. Supportive planetary cues and renewed buying involvement from FIIs successful the currency marketplace are positive. Breach of important enactment zones of 24,200–24,150 shall pb to a deeper correction towards 23,800. Traders should proceed to clasp bullish bets with a trailing halt nonaccomplishment astatine 24,150.

What should investors do?
IT, lipid & gas, PSU banks and realty assemblage stocks are apt to pb the adjacent limb of the up-move. Traders should make a short-term diversified portfolio with stocks similar HCL Tech, Coforge, Mphasis and Wipro, from IT sector. IOC, RIL and GAIL from lipid & gas. SBI, Bank of India, Union Bank from PSU banks, and stocks similar DLF and Godrej Properties tin besides beryllium considered to beryllium portion of that portfolio.

SUDEEP SHAH
HEAD- TECHNICAL & DERIVATIVE RESEARCH, SBI SECURITIES

Where is Nifty headed this week?
The 200-day moving mean (DMA) portion of 24,050-24,150 volition enactment arsenic contiguous support. Below 24,050, the 20-day exponential moving mean (EMA) astatine 23,750 volition enactment arsenic the adjacent important support. On the upside, the 24,550-24,600 portion volition enactment arsenic a cardinal hurdle. A sustained determination supra 24,600 could trigger a crisp rally towards 24,850, with the adjacent people placed adjacent the 25,100 mark. We expect the Index to consolidate with a affirmative bias.

What could investors do?
The existent consolidation signifier presents a beardown accidental for semipermanent investors to accumulate prime large-cap and mid-cap stocks astatine charismatic prices successful a staggered manner. We urge traders absorption connected banking and financial, defence, cement and tyre spaces, which we expect to amusement comparative outperformance successful the coming weeks. Select large-caps specified arsenic Divis Lab, Bharti Airtel, Grasim, HDFC Bank, HAL, and IOC; and midcaps specified arsenic BEL, Abbott, CEAT, Navin Fluorine and Bharat Dynamics could witnesser comparative outperformance

SAMEET CHAVAN
HEAD RESEARCH - TECHNICAL & DERIVATIVES, ANGEL ONE

Where is Nifty headed this week?
Nifty is facing immoderate rejection astir 24,400–24,500 for the past 6–7 trading sessions. A coagulated uptick connected Friday beyond this portion was sold into. If determination is immoderate aberration connected the planetary oregon home front, we whitethorn spot a knee-jerk absorption of 500 – 700 points successful the coming days. In immoderate scenario, 23,800–23,500 should service arsenic a beardown enactment portion for Nifty. On the flip side, erstwhile the particulate settles, the Nifty is apt to reclaim 24,850 and determination higher.

What could investors do?
Momentum traders should debar carrying assertive bets overnight connected either side. One tin follow a stock-centric attack by pursuing strict halt losses. We urge buying Godrej Properties for a people of Rs 2,425 with a halt nonaccomplishment astatine Rs 2,145. On the flipside, a batch of midcap counters faced selling unit connected Friday and Aditya Birla Fashion is 1 of them. The banal sneaked beneath its 20-day EMA with the antagonistic crossover successful the RSI-smoothed oscillator. Aggressive traders tin abbreviated astir Rs 259 for a people of Rs 247. A strict halt nonaccomplishment tin beryllium placed astatine Rs 267.