Bulls Unleashed: Nifty’s 25K Breakout Sparks 25,600 Target Buzz!

Image Source: ET Now

Indian bourses are abuzz as Nifty 50 surges past the 25,000 mark, fueling renewed hopes of another rally. Sudeep Shah, Head of Technical & Derivatives Research and Deputy Vice President at SBI Securities, comments on the way forward for the benchmark index as well as major sectors.

Key Highlights:

Nifty's Bullish Pace: Nifty 50 jumped more than 1,000 points this week, recouping all losses since October 2024 and closing above the psychological 25,000 mark. This surge was driven by indiscriminate buying across sectors and a favorable change in geopolitical sentiment due to Operation Sindoor, which brought an end to India-Pakistan hostilities.
Short-Term Targets: Sudeep Shah says technical indicators and strong sectoral support indicate the Nifty may take gains to 25,300 in the short term, with the possibility of testing 25,600 if the current momentum continues. The zone of support is at 24,750–24,700, acting as a cushion against any near-term pullback.
Consolidation or Rally? Although the main trend is still bullish, Shah points to the potential for short-term consolidation as the market absorbs recent advances. As long as the index remains above major levels of support, however, the uptrend is expected to persist.
Bank Nifty & Sector Watch: Bank Nifty has trailed the overall market but is still in a bullish setup above important moving averages. Sectors such as capital markets and railways are witnessing breakout possibility, whereas defense and metal stocks are still on the radar of momentum players.
FIIs Continue to be Net Buyers: Foreign institutional investors turned net buyers, reflecting the renewed confidence in Indian equities and propping the current rally.