India's Nifty 50 index surged 1.06% to 25,088.40 on Feb 2, rebounding from Budget volatility with gains led by oil & gas, banks, autos amid falling global crude. Experts forecast 8-14% upside in 2026, targeting 28K-29.5K driven by FII inflows and earnings.
Market Momentum
Nifty formed a long bullish candle, buying at lows near 24,680; closed above 25K key level. Gainers: Adani Ports (+7.2%), ONGC, ICICI Bank; Sensex up 0.88% to 82,055. Bank Nifty +0.35% at 58,619.
Key Highlights
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Top Drivers: Crude oil drop supports OMCs; strategic buys in banking, autos post-Budget dip.
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Technical Setup: Support at 24,900-25,000; resistance 25,300-25,600; bullish above 25,200.
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2026 Forecast: Nifty to 28K-29.5K (8-14% gains); blue-chips preferred for valuation comfort, 12-14% EPS growth.
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Sector Stars: Metals (Tata Steel +1.69%), Power (NTPC +1.62%), Financials; FII/DII flows key.
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Global Cues: Flat GIFT Nifty; watch Asia, VIX for Feb 3 open.
Outlook
Sustain 25K for rally to 25,700; blue-chips lead on FII return, capex. Risks: Elevated VIX, expiry volatility.
Sources: ETNowNews.com, 5Paisa.com, EconomicTimes.com