Business
Nifty could test lifetime highs after 25,500, says Gautam Shah
Nifty could test lifetime highs after 25,500, says Gautam Shah
About this update from Eternal Limited
Gautam Shah, Founder of Goldilocks Global Research, identified 25,070 and 24,900 as key support levels for the Nifty. “This market is now a buy on dip,” he said, adding that the index could rise to 25,500. Once that level is crossed, he expects the market to move toward lifetime highs. He said that the Indian stock market has recovered despite challenges like tariffs and other negative news. “Domestic liquidity has won over once again,” he said. Shah noted that some investors still question valuations and whether Indian markets can return to previous highs, while most global markets are trading at all-time levels. He said recent weeks have seen broad participation, with many previously underperforming stocks improving. Shah advised focusing on the right stocks rather than the overall Nifty. “Stay in the right pocket, stay in the right stocks, don’t look at the Nifty too much,” he said. Shah highlighted sector opportunities, saying auto, metals, and banking are leading areas. “Stick to auto, stick to metal, stick to banking. Those three are our top picks,” he said. He also pointed to midcap and smallcap stocks as areas with strong potential, citing stocks like Eternal, which he said has shown “an incredible run.” On precious metals, Shah said gold and silver continue to offer gains. “$3,850 per ounce is an important near-term resistance” for gold, he said, while silver could rise about 20% from current levels. Shah also discussed US markets, noting strong performance and ongoing upside potential. He expects the S&P 500 to reach 6,960 and sees more gains in the Nasdaq. He advised investors to stay concentrated and avoid sectors showing weak performance. “Don’t commit where there is no relative strength,” he said, emphasising that focusing on quality stocks and sectors with momentum is key.