Analysts see Nifty climbing to 25,600, recommend buying on dips
Nifty gained over 8.5% last week, crossing the 25,000 mark and demonstrating bullish momentum. Analysts foresee further upside towards 25,300-25,600 despite possible consolidation due to volatility. Key support for the Nifty is located at 24,000, promoting buying on potential dips. Top stocks recommended include Adani Ports, MCX, and SBI, showing strong bullish signals. Market breadth improved,…
Analysts anticipate the Nifty index to surpass 25,600 and advocate purchasing during price dips. The benchmark index skyrocketed 8.5% on a weekly basis, surging over 2,500 points to reach the 25,000 mark. While heightened volatility and overbought conditions may provoke a short-term consolidation, a favorable pattern of higher highs and higher lows has emerged across seven sessions.
This bullish momentum, backed by a resolute weekly candlestick, suggests the Nifty could continue its ascent towards 25,300-25,600, provided it remains above this pivotal zone. Support is currently established at 24,000.
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