Prashanth Tapse, Senior VP (Research), Mehta Equities
Nifty opened on a strong note Wednesday and extended gains through the session as bullish momentum gathered pace, with buyers dominating across sectors. The index now eyes its all-time high of 26,277.35, supported by several positive catalysts — record highs on Wall Street, easing CPI inflation, optimism around a US–India trade pact, hopes of an end to the US shutdown, and rising expectations of a Fed rate cut.
Despite FIIs selling Rs 1,750 crore, technicals remain upbeat with support at 25,500 and a breakout above 26,107 likely paving the way for fresh highs.
Investors will closely track the Bihar election results on Friday, which could further lift sentiment.
The bias stays bullish, with Nifty’s 26,000 mark likely the next stop.
Stocks in focus: Adani Enterprises, BSE, Tata Motors CV, BLS International, Zaggle, GSFC, and Reliance Infra — all posted strong Q2 performances.
Preferred trades: Nifty (Buy at CMP, targets 26,000/26,277) and Bank Nifty (Buy at CMP, targets 58,907–59,700).
Chart picks: POLYCAB, CDSL, INDIGO, ADANI PORTS.
Stock to buy now: M&M (CMP 3,754) — momentum play targeting 3,909–4,051.