loader2
Login Open ICICI 3-in-1 Account

Open ICICI
3-in-1 Account

Manage your Savings, Demat and Trading Account conveniently at one place

+91

BLOG

Launchpad ready: Nifty set to challenge 26300…

ICICIdirect Research 14 Nov 2025 DISCLAIMER

Equity benchmark resumed uptrend after two weeks breather and settled eventful week at ~25900, up 1.5%. Midcaps continued with its winning streak, consequently clocking fresh All Time High after Sept-24. Beaten down IT, Defence and pharma staged a strong rebound meanwhile realty, FMCG continued with its breather

 Key Highlight:

  • Index displayed resilience by providing buying demand in the vicinity of 50 days EMA and enabling the formation of higher base while sailing through global as well as domestic volatility

 What to expect:

  • Past three weeks consolidation has created launchpad for Nifty to challenge All Time high of 26300 in coming month. Softer inflation reading along with better-than-expected Q2 earnings reinforces positive momentum that would drive index higher. Hence, any decline should be used as buying opportunity as strong support is placed at 25300

 Following are the key observations that validates our bullish stance:

  • Political Boost: Early trends suggest the NDA has crossed the majority mark which has boosted investors sentiment
  • Bank Nifty: 10 sessions decline completely retraced back in just five sessions, Faster retracement signifies structural improvement
  • Midcap: Midcap index challenged Sep-24 high and recorded fresh all-time high. The current up move is backed by improvement in market breadth as currently 68% of Midcap index stocks are trading above their 200 days EMA compared to one month back reading of 64
  • Nifty IT vs Nasdaq: Defying the past two decades positive corelation with Nasdaq, the Nifty IT index has seen correction in recent past. Consequently, Nifty IT vs Nasdaq ratio has approached at two decades low. The current pullback in the ratio signifies mean reversion can be seen going ahead wherein Nifty IT would relatively outperform the Nasdaq in coming months
  • Global Macros: US Dollar index and Brent crude have been inching downward that augurs well for emerging markets
  • Key Monitorable: With the Development of India-US tariff negotiations would be key monitorable

Download ICICI Direct app

Invest, Track, and Manage your Portfolio Anytime, Anywhere

Download ICICI Direct app

Invest, Track, and Manage your Portfolio Anytime, Anywhere