Speaking to ET Now, Rudramurthy said, “Every dip has to be used as a buying opportunity. It’s just a matter of time before Nifty hits new all-time highs. The recent earnings season has been far better than the previous one, FIIs have turned buyers again, and short covering will intensify once we cross all-time highs.”
He noted that the Nifty’s breakout above 25,700 marks a key technical shift, with the 25,650–25,700 zone now acting as strong support. For Bank Nifty, Rudramurthy pegs support around 57,600, adding that both indices are set for an upward trajectory in the near term.
On the global front, easing tariff tensions between the US and China are providing a tailwind for Indian equities. “Now that the tariff issues are getting settled, global uncertainty is reducing — this is positive for the market’s next leg of growth,” he said.
Upbeat on 5 sectors
Rudramurthy’s sectoral outlook remains upbeat on IT, PSU banks, OMCs, metals, and new-age tech platforms, highlighting that the IT index has bottomed out and several stocks are now trading at attractive valuations.
Among individual stocks, he named Paytm and Coforge as his top trading and investment ideas:Paytm: The stock has given a technical breakout above ₹1,290, with near-term targets of ₹1,400 and a potential move to ₹1,700–2,000 in the medium term. Rudramurthy recommends a stop loss at ₹1,280 and advises rolling over long positions in futures.Coforge: Terming it a “mouthwatering buy”, he said the IT stock is set for a strong rally after its recent breakout. He expects Coforge to climb to ₹1,950 initially, and eventually test ₹2,300–₹2,500, with a stop loss at ₹1,730.
He added, “Metals have corrected slightly, but that’s a buying opportunity for investors who missed earlier entries. PSU and second-tier private banks also look fundamentally strong.”
Overall, Rudramurthy expects Nifty’s uptrend to continue, driven by FII inflows, strong domestic earnings, and sectoral tailwinds.