GIFT Nifty 🇮🇳: (+345, 26268)
Dalal Street started Samvat 2082 on an upbeat note as Sensex and Nifty clocked their 5-day winning streak on the Mahurat trading session.
The Good News: Riding the Wave of Prosperity — Dalal Street is likely to Shine Bright as Bulls Aim to Celebrate Another Festive High.
The Big Breaking and Super Bullish Boost for Nifty Bulls this Thursday Morning!
Game-changing cue: The U.S. is reportedly set to slash tariffs on Indian imports to just 15–16%, a major win for India’s trade competitiveness and export outlook.
Bottom-line: With global sentiment turning supportive, Nifty’s all-time high of 26,277.35 now looks well within striking distance — and could be conquered sooner rather than later!
Long Story Short: Well, what began as a dovish RBI-driven rally is starting to broaden out indicating, ‘Happy days are here again’
— and there is bright chance that the bullish momentum looks poised to extend towards Nifty 27000 mark with a 12-month perspective.
Nifty Pharma index could be the biggest beneficiary on reports that the US likely to cut tariffs on Indian imports to 15%-16%.
The earnings calendar promises to be eventful. Key Earnings on radar this week:
Thursday, October 23 – HUL, COLPAL, LARUS LAB
Friday, October 24 – SBI LIFE, DR REDDYS LAB, SBI CARD, COFORGE,
Saturday, October 25 – KOTAK MAHINDRA BANK
Now, before we get into detail of today’s trading session, here is the preferred trade on Nifty and Bank Nifty:
Nifty (25869): Buy at CMP. Stop at 25501. Targets 26277/26500. Aggressive targets at 27000-27500 zone.
Bank Nifty (58007): Buy at CMP. Stop at 56770. Targets 58350/58750. Aggressive targets at 59100-59500 zone.
Our chart of the day is bullish on SUN PHARMA, LAURUS LAB, GRASIM, and APOLLO HOSPITALS on any early excessive intraday weakness with an interweek/Intermonth perspective.
The 1 Stock to Buy Right Now: Buy SUN PHARMA (CMP 1699): Buy at CMP. Stop at 1671. Targets 1743/1801. Aggressive targets at 1851. (Interweek Strategy). Rationale: Momentum Play. Signalling a massive breakout on the upside. Key interweek support 1641. Major hurdles only at 1801 mark. 200-DMA at 1691.
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