Analysts see Nifty climbing to 25,600, recommend buying on dips
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The Nifty gained over 8.5% during the week, rising more than 2,500 points from 22,500 and reclaiming the 25,000 mark. Analysts see further upside towards 25,300-25,600, although elevated volatility and overbought conditions could trigger a brief consolidation. Buying on dips remains the preferred strategy.CHANDAN TAPARIA, HEAD – DERIVATIVES & TECHNICALS, WEALTH MANAGEMENT, MOTILAL OSWAL FINANCIAL SERVICES The Nifty has formed higher highs and higher lows over the last seven sessions, supported by a strong bullish weekly candle. Having crossed resistance at 24,444-24,600, the index could extend its rally towards 25,350 and 25,600 as long as it holds above this zone. Key support is placed at 24,000.Nifty Strategy: For the November 23, 2026, expiry, adopt a bull call spread by buying one lot of the 25,000 call and selling one lot of the 25,500 call. The maximum risk is 180 points (Rs 11,700 per lot), while the maximum pro t potential is 320 points (Rs 20,800 per lot).Read more: Ahead of Market: 10 things that will decide stock market action on MondayTOP STOCKS THIS WEEKAdani Ports: Buy | CMP: Rs 1,936 | Target: Rs 2,050 | Stop loss: Rs 1,875 A breakout above Rs 1,875 on the daily and weekly charts, expanding volumes and buying interest on declines indicate strengthening momentum.MCX: Buy | CMP: Rs 3,528 | Target: Rs 3,700 | Stop loss: Rs 3,435 The stock remains in a strong uptrend, respecting its 10-month EMA. Bullish RSI readings and rising volumes indicate sustained buying interest.DHARMESH SHAH, HEAD – TECHNICAL, ICICI SECURITIES The Nifty has broken out of an eight-month falling trendline, recovering its entire 12-week decline in two weeks and prompting a revision of the target to 25,500. However, the sharp rally has pushed momentum indicators into overbought territory, making brief consolidation possible. The index has formed a double bottom after defending its 200-week EMA. Market breadth has improved, with 58% of Nifty 50 stocks trading above their 200-day moving averages. Support has shifted higher to 24,300.Nifty Strategy: Use declines towards 24,400–24,500 as buying opportunities, with a target of 25,000. Immediate support is at 24,180.TOP STOCKS THIS WEEK Larsen & Toubro: Buy | CMP: Rs 4,119 | Target: Rs 4,520 | Stop loss: Rs 3,798 A breakout above a falling trendline joining the February and June 2026 highs signals an end to the corrective phase. The stock has recovered its entire nine-week decline in two weeks.SBI: Buy | CMP: Rs 1,018 | Target: Rs 1,129 | Stop loss: Rs 929 A double bottom near the 100-week EMA signals buying demand, while polarity reversal and 50% retracement offer favourable risk-reward.Read more: Market may deliver bumper returns by next Diwali as valuations and earnings align, says Raamdeo AgrawalNILESH JAIN, HEAD – EQUITY TECHNICAL & DERIVATIVE RESEARCH, CENTRUM FINVERSE The Nifty extended its winning streak to seven sessions and closed above 25,000. A sustained move above this level could take it towards 25,300–25,500, while the 200-day moving average near 24,000 remains key support. India VIX surged nearly 14% to 17.58, indicating elevated volatility and warranting caution against aggressive long positions. Bank Nifty continues to show a relatively stronger technical structure.Bank Nifty Strategy: Adopt a bull call spread for the monthly expiry by buying one lot of the 59,200 call at Rs 694 and selling one lot of the 59,800 call at Rs 466. The net debit is 228 points, with maximum loss of Rs 6,840 and maximum pro t potential of Rs 11,160 per lot. The breakeven is 59,428.TOP STOCKS THIS WEEK HDFC Life: Buy | CMP: Rs 563 | Target: Rs 609 | Stop loss: Rs 540 A breakout from a falling channel, recovery above the 21-day and 50-day moving averages near Rs 537, and above-average volumes support the bullish setup.Bajaj Auto: Buy | CMP: Rs 10,910 | Target: Rs 12,000 | Stop loss: Rs 10,300 The stock has formed a strong base and reclaimed its 100-day moving average at Rs 10,870. Trading above the 200-day moving average at Rs 10,180, along with healthy volumes, indicates a positive technical structure.
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