After a period of turbulence, the stock market has recently put smiles on investors' faces. Amidst this optimism, Bajaj Broking has announced a bullish forecast for the Nifty 50 index. The firm posits that the index could reach record heights as early as next year. They anticipate it touching the 27000 mark by March 2026. Should this materialize, it would represent a 7% climb from its current position.
According to a Mint report, Bajaj Broking's recent analysis highlights that Nifty has maintained a 'higher high' position on the three-month chart. The brokerage firm expects this momentum to persist, potentially propelling the index to a record 26,277 points in the coming months. In such a scenario, Nifty 50 could ascend to the 26,800-27,000 range.
The report suggests a robust support level for the index between 24,400 and 24,300. The brokerage firm sees no imminent threat of a breakdown below these levels. In the short term, support is anticipated in the 24,800 to 24,700 range.
Remarkably, India's stock market has shown resilience amidst global headwinds such as tariff disputes and international conflicts. Experts view the current market consolidation as a healthy sign, at least for the time being.
Bajaj Broking forecasts growth in the banking, auto, metal, and consumer sectors. They also advise keeping a watchful eye on public sector undertakings.
Motilal Oswal has also signaled a bullish outlook for Nifty50.
(Ei Samay Online does not provide investment advice. The stock market or any investment carries inherent risks. Thorough research and expert consultation are advisable before making any investment decisions. This article is published for educational and awareness purposes only.)
