The Nifty index continued its upward trajectory during the auspicious Muhurat trading session, marking its fifth consecutive day of gains. The benchmark index closed at 25,869.00, adding 25.00 points to its previous close. This positive close also marked the eighth straight Muhurat session where the index ended in the green.

Market Performance

During the session, the Nifty reached an intraday high of 25,934.00 before retracing some of its gains. However, it managed to hold above the key psychological level of 25,850.00. The market showed selective buying interest, particularly in large-cap stocks across banking, IT, and auto sectors.

Stock Movements

Out of the Nifty constituents, 25 stocks closed higher, with Cipla leading the gains. On the flip side, Kotak Mahindra Bank, Asian Paints, UltraTech Cement, and HCLTech were among the top losers.

Sector-wise Performance

While banking, IT, and auto sectors saw buying interest, profit-booking was observed in metal and FMCG stocks, which limited the overall gains in the market.

Market Outlook

Analysts remain optimistic about the market's future performance. Vinit Bolinjkar of Ventura Securities has set a target of 27,600.00 for the Nifty in the next Samvat (Hindu New Year). The potential drivers for this upside, according to Bolinjkar, include:

1. Domestic consumption-led earnings revival
2. Continued fiscal support

LKP Securities has a more immediate outlook, expecting a short-term rally towards the 26,000.00-26,200.00 range, with support seen at 25,700.00.

As the Indian market enters a new Samvat, investors will be closely watching these levels and the factors that could influence market movements in the coming sessions.

The Nifty index has demonstrated remarkable strength, closing higher for the third consecutive week and posting its most substantial weekly gain in four months. This upward momentum has caught the attention of technical analysts, who are now eyeing the possibility of the index reaching its all-time high of 26,277.

Technical Outlook

Technical analysts are optimistic about the Nifty's trajectory, provided it can maintain its momentum above key resistance levels. Here's a breakdown of the critical levels to watch:

Sector-wise Recommendations

Analysts are recommending a buy-on-dips strategy, with a focus on specific sectors that show promise:

• Banking
• FMCG (Fast-Moving Consumer Goods)
• Consumer Durables
• Automobiles
• Real Estate

Stocks to Watch

Several stocks have been highlighted by analysts for their positive chart structures and potential:

FMCG Sector:

• Hindustan Unilever
• Colgate Palmolive
• Tata Consumer

Other Recommended Stocks:

• State Bank of India (SBI)
• Asian Paints
• Bajaj Auto
• Bharti Airtel
• Reliance

Sectors to Avoid

Analysts suggest caution with certain sectors, advising against long positions in:

• IT (Information Technology)
• Media

Investors are encouraged to keep a close eye on these market trends and adjust their strategies accordingly. As always, it's important to conduct thorough research and consider one's risk tolerance before making investment decisions.

Market Implications

The Nifty's strong performance and the potential for reaching new highs could signal growing investor confidence in the Indian market. However, it's crucial to remember that market conditions can change rapidly, and past performance doesn't guarantee future results.

As the Nifty approaches its all-time high, market participants should stay alert to any shifts in momentum or external factors that could influence the index's trajectory. The coming weeks will be critical in determining whether the Nifty can sustain its upward movement and potentially break new ground.