“Markets are clearly in an upward trajectory. Our quant model suggests Nifty could move toward 26,000–26,500 levels in the short to medium term,” said Jay Thakkar, Senior VP, ICICI Securities, adding that nearly 76% of Nifty stocks now look sideways to positive.
Nifty to target 26,500: Base at 24,000
Thakkar’s short-term outlook is bullish, backed by strong long build-up across key index heavyweights.
“The market base has shifted higher every few months — from 21,800 to 24,600 — with 24,000 acting as a solid floor for the rest of FY25,” he said.
According to Ashish Kyal, Founder of Waves Strategy Advisors, India’s markets are defying global pessimism.
“Despite 50% tariffs still in place, Indian equities are outperforming. We’re likely entering a third wave uptrend, and lifetime highs are on the cards soon,” he noted.
Short-term fireworks: Shriram Finance, L&T shine bright
For short-term traders, Kunal Bothra of Kunal Bothra Advisors recommends Shriram Finance as his top Diwali “cracker pick.”“The stock is poised for a major breakout, and risk-reward is attractive. I’d target ₹700 with a stop loss at ₹645,” Bothra said.
Among safe largecaps, Larsen & Toubro (L&T) stands out as Thakkar’s “sparkler stock.”
“L&T has broken out from long consolidation. It’s part of the 19 Nifty names showing strong long build-up. With a stop loss at ₹3,700, I’d look for ₹4,200 as the upside target,” he said.
Lower rates, GST cuts, and higher capex spending are expected to boost capital goods names further.
Medium-term rockets: Nykaa and Godrej Properties
Bothra’s medium-term choice is Nykaa, which he says has “confirmed a strong breakout” and could rally toward ₹300.
“Momentum and volume indicators suggest a 10% upside potential,” he added.
Meanwhile, Ashish Kyal prefers Godrej Properties in the real estate space, calling it a sector rotation play.
“Realty stocks are seeing clear outperformance. Godrej Properties can rally to ₹2,800 with a stop loss at ₹1,980,” he said.
High-risk rockets: Tata Motors in the fast lane
Thakkar is bullish on Tata Motors, citing sectoral strength and short-covering potential.
“Auto sales have surged post-GST and tax cuts. Tata Motors, with strong September numbers and a completed demerger, looks set for a move to ₹535 with a stop loss at ₹350,” he said.
Long-term sparklers: Kotak Bank, SBI stand tall
Among long-term “wealth compounding” ideas, Bothra and Thakkar are betting on private and PSU banking giants.
“Kotak Bank is turning around after months of correction. With improving charts, it can rally to ₹2,400 in the long term,” said Bothra.
Thakkar, meanwhile, sees State Bank of India (SBI) leading the PSU pack.
“SBI has broken out from long consolidation and is seeing strong fund inflows. Target ₹1,100 with ₹770 as support,” he said.
Value bombs: Hero MotoCorp, JK Tyre poised for big moves
For value seekers, Ashish Kyal likes the auto and auto ancillary segment.
“Hero MotoCorp remains a leader in two-wheelers and can climb to ₹8,500. JK Tyre, forming a bullish inverted head and shoulders, can hit ₹600 from its current range,” he said.
He added that the auto upcycle and ancillary demand will create multi-quarter opportunities for investors.
The outlook: Buy on dips, ride the festive wave
All three experts agreed that India’s bull run remains intact, supported by strong domestic liquidity and structural tailwinds.
“Use any dips to buy. The trend is up, the base is solid, and this Diwali could mark the beginning of another leg higher,” said Kyal.