GIFT Nifty 🇮🇳: (+60, 25463)
Bullish euphoria and an early Diwali party is quite likely at Dalal Street.
Festive Cheer for Nifty Bulls. The 3-Positive Catalysts:
1) Fed’s rate cuts bets are likely to overshadow near-term trade concerns.
2) Global tailwinds, especially strong Wall Street cues.
3) The IMF’s upward revision of India’s FY26 GDP growth forecast to 6.6%.
Technically speaking, aggressive interweek targets placed at 25,670 (High as on June 30, 2025) — as bullish momentum looks poised to extend.
Helping sentiments will also be:
1) Comments from Fed Chair Powell who has reinforced expectations for an October rate cut and hinted at a possible pause in balance sheet runoff.
2) Fading trade war fears
3) WTI crude oil futures stayed depressed near $58.60 per barrel, near its five-month low as investors weighed escalating US-China tensions and a bearish outlook from the International Energy Agency.
Key Q2 Earnings on radar:
• Thursday, October 16 – Infosys, Jio Financial, LTIMindtree, Mastek, Nestlé India, Wipro, and Zee Entertainment.
• Friday, October 17 – Reliance Industries, the centerpiece of the earnings season.
Long story short: Make Hay while the Sun Shines! Festive Spirit on Dalal Street Quite Likely!
STOCKS IN SPOTLIGHT
1) HDFC Life was up 2.37% in yesterday’s trade after its Q2 Consolidated PAT Rose 3% YoY to ₹448 Crore; Net Premium Income Grew 14%
2) HDFC AMC (+3.04%) after the firm announced its first-ever 1:1 bonus issue, alongside a strong set of Q2 results. Net profit surged 24.6% YoY to ₹718.43 crore for Q2 FY26, compared to ₹576.61 crore in the year-ago period.
3) Persistent Systems (+7.24%) rallied after its Q2 results beat Street estimates. Robust growth in its key BFSI and healthcare verticals led +4.4% CC revenue growth QoQ (vs Est: +3.9% QoQ). And the cherry on top: Persistent also reported its highest-ever total contract value at $609 million; +15% YoY.
Key Earnings on radar:
• Thursday, October 16 – Infosys, Jio Financial, LTIMindtree, Mastek, Nestlé India, Wipro, and Zee Entertainment.
• Friday, October 17 – Reliance Industries, the centerpiece of the earnings season.
Now, before we get into detail of today’s trading session, here is the preferred trade on Nifty and Bank Nifty:
Nifty (25324): Buy at CMP. Stop at 24971. Targets 25500/25670. Aggressive targets at 26277-26700 zone.
Bank Nifty (56800): Buy at CMP. Stop at 55745. Targets 57100/57630. Aggressive targets at 58100-58500 zone.
Our chart of the day is bullish on BAJAJ FINANCE, HUDCO, DLF, and HAL on any early excessive intraday weakness with an interweek/Intermonth perspective.
The 1 Stock to Buy Right Now: Buy MANAPPURAM (CMP 289): Buy at CMP. Stop at 269. Targets 301/313. Aggressive targets at 329. (Interweek Strategy). Rationale: Signalling a massive breakout on the upside. Aiming to enjoy strong session after recent outperformance. Key interweek support 274. Major hurdles only at 301 mark. 200-DMA at 238.
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