The Nifty’s recent upmove could continue towards 24,300–24,600, though some near term consolidation is possible after the recent rally. Analysts see the 23,700–23,900 zone as key support and recommend buying on dips.

AMOL ATHAWALE

VP—TECHNICAL RESEARCH, KOTAK SECURITIES

Where is the Nifty headed? The weekly charts display a Doji candlestick pattern, signalling uncertainty and indecision between bulls and bears. Trading Strategy The short-term market outlook remains optimistic, with traders advised to buy on dips and sell on rallies. For the Nifty, the 50-day SMA around 23,850–23,750 is expected to act as a key support zone, while resistance is seen at 24,200–24,400. A fall below 23,750 may prompt traders to exit long positions.

TOP BETS FOR THE WEEK
Britannia Industries: Buy; CMP: Rs 5,195; stop loss: Rs 5,100; target: Rs 5,450

After finding support near Rs 5,050, the stock reversed and is undergoing positive consolidation near its 20-day SMA, indicating that the pullback may continue. Rs 5,100 is likely to act as a crucial support level, and sustaining above it could extend the move towards Rs 5,450.
Grasim Industries: Buy; CMP: Rs 3,150; stop loss: Rs 3,085; target: Rs 3,300
On both the daily and weekly charts, the stock remains in a strong uptrend, with Rs 3,090 emerging as a critical support level. As long as it stays above this mark, the rally could extend towards Rs 3,300, while a fall below Rs 3,090 may warrant an exit from long positions.

RUCHIT JAIN
HEAD – EQUITY TECHNICAL RESEARCH, MOTILAL OSWAL FINANCIAL SERVICES

Where is the Nifty headed? The Nifty has recovered steadily from the 23,000 mark, forming a higher bottom near the 61.8% Fibonacci retracement level and reclaiming its 50-day DEMA, signalling improving momentum. If the upmove sustains, the index could head towards 24,500, where the 200-day DEMA and a previous swing high may act as key resistance. On the downside, immediate support is placed at the 20-day DEMA near 23,700, and holding above this level would keep the short-term bullish bias intact.

Trading Strategy: Traders are advised to maintain a positive bias and use corrective declines to create fresh long positions. Dips towards 23,900–23,850 can be used as buying opportunities, with a stop loss below 23,700, while the Nifty may target 24,250 initially and 24,500 if momentum strengthens.

TOP BETS FOR THE WEEK
Aditya Birla Capital: Buy; CMP: Rs 376; stop loss: Rs 360; target: Rs 405
The stock is on the verge of breaking out of a sixmonth consolidation range, suggesting a continuation of its broader primary uptrend. A decisive breakout could trigger fresh momentum and attract follow-up buying.

Premier Energies: Buy; CMP: Rs 1,080; stop loss: Rs 1,020; target: Rs 1,180.
The stock has been forming a higher-top, higher-bottom structure. Prices are respecting the support range of the 20- and 50-day DEMAs, while the RSI oscillator indicates positive momentum.

PABITRO MUKHERJEE
DEPUTY VICE PRESIDENT— TECHNICAL, BAJAJ BROKING

Where is the Nifty headed?
The bias remains positive, and the Nifty is expected to extend its upmove towards 24,300 and 24,600 in the coming weeks. While some consolidation after the recent 1,100-point rally cannot be ruled out, dips towards the 23,800–23,900 support zone should be used to accumulate quality stocks. The broader market is likely to continue outperforming, with the Nifty Midcap 100 targeting 63,500 and the Nifty Smallcap 100 moving towards its CY25 high of 19,225. Trading Strategy Buy Nifty futures at current levels and on dips towards 23,900 for targets of 24,300 and 24,600.

TOP BETS FOR THE WEEK

Bharat Electronics: Buy; CMP: Rs 427; stop loss: Rs 411; target: Rs 452
The stock has broken out above the falling channel that contained its two-month decline and has also closed above its 20- and 50-day EMAs, offering a fresh entry opportunity. The stock is likely to gradually move towards Rs 452, which marks the 80% retracement of the previous decline from Rs 464 to Rs 399.

Eternal: Buy; CMP: Rs 264; stop loss: Rs 249; target: Rs 290
The stock is on the verge of breaking out above its eight week consolidation range of Rs 234–265, offering a fresh opportunity. A bullish crossover of the 20-day EMA above the 50-day EMA supports positive bias, with the stock expected to move towards Rs 290–295 in the coming months.

Mumbai: Foreign investors‘ derivatives bets continue to signal caution on Indian equities despite a slowdown in their cash-market selling, as uncertainty around the fragile US-Iran peace deal, a weak rupee and more attractive opportunities in other Asian markets keep sentiment subdued.

The Nifty gained 1.65% last week. However, the long-short ratio of foreign portfolio investors’ positions in Nifty futures-a measure of bullish bets relative to bearish ones-stood at 12.95% on Friday. While the increase in the ratio from 8.1% two weeks earlier shows some reduction in short positions, the reading remains far too high to conclude that foreigners have turned bullish.

In the cash market, foreign investors were net buyers in four of the five trading sessions last week, purchasing shares worth a net ₹7,778 crore.

“The long-short ratio has improved marginally due to some short covering alongside fresh long additions by FIIs following the US-Iran peace deal. However, the benchmark Nifty index has not shown an over-optimistic reaction to the peace deal,” said Vipin Kumar, AVP- derivatives and technical research at Globe Capital Market.

Iran said it was once again closing the vital Strait of Hormuz on Saturday over Israeli attacks in Lebanon ahead of the weekend negotiations between Washington and Tehran to end the West Asia conflict, underscoring the fragility of the talks.

Analysts said Indian equities are yet to become compelling enough for overseas investors.
“While crude has been correcting, levels of $80 are still high. A dip to $70 or pre-war levels can be a tailwind driving covering from funds that are running short positions in India,” said Sriram Velayudhan, senior vice president, IIFL Capital Services.Velayudhan also said that other regions like South Korea and Taiwan have not yet seen a meaningful reversal or underperformance.

South Korea’s Kospi is up 110% in 2026 so far, while Taiwan’s Taiex Index has gained 58% this year, compared with the Nifty’s decline of 8.2%.

Kumar said the rupee’s underperformance against the dollar and the risk of higher inflation due to a below-average monsoon forecast remain key concerns.

Where will the markets go?
The Nifty ended the previous week at 24,013.10.

Kumar said the index continues to trade within a range, with positional resistance around the 24,600 level.

“A positive weekly breakout in the Nifty index above the 24600 spot level on a closing basis, alongside improvement in the concerned areas, might trigger significant short covering by FIIs,” he said.

Velayudhan said that while the Nifty has been trading in a broad range of 23,800-24,500 for some time, it could test the upper end of that band in the near term.

Mumbai: Private equity major Carlyle plans to launch a $500 million initial public offering (IPO) for its Indian automotive platform, Highway Roop Precision Technologies, multiple people aware of the listing proposal told ET. In parallel, Carlyle has also initiated the IPO process for its healthcare revenue cycle management (RCM) platform, investment bankers said.

The proposed listings are likely by mid-2027, said the people cited above. The automotive platform is expected to be valued at about $2 billion.

The healthcare RCM asset, created through the merger of Knack RCM and EqualizeRCM after their acquisitions by the private equity major, should raise $400-500 million through a combination of primary and secondary share sales, bankers cited above told ET.

Investment bankers have begun pitching for mandates on both offerings. One of the most active private equity investors in India, Carlyle has deployed more than $8 billion in the country across investments including PNB Housing Finance, SBI Cards, VLCC, Hexaware Technologies and Nido Home Finance.

A Carlyle spokesperson declined to comment.

In February 2025, Carlyle Asia Partners acquired controlling stakes in Highway Industries and Roop Automotives, leading manufacturers of forged and precision-machined components, steering system assemblies, transmission parts and other powertrain applications used in electric, hybrid and internal combustion engine (ICE) vehicles. To lead the combined platform, Carlyle appointed Dharmesh Arora, former Asia-Pacific CEO of Schaeffler Group, as chief executive officer in June 2025.
The founders of Highway Industries and Roop Automotives, Umesh Munjal and Mohit Oswal, respectively, continue to hold a combined 25-30% stake in the merged entity. According to sources, Highway Roop is expected to generate revenue of about ₹3,000 crore and EBITDA of ₹700 crore in FY27.Precision Parts
In India, Highway Roop mainly competes with listed precision engineering and auto-component manufacturers such as Bharat Forge (Market cap of ₹97,652 cr), and Sona BLW Precision Forgings ( Market cap of ₹38,180 cr).

Separately, Carlyle Asia Partners acquired majority stakes in Knack RCM and EqualizeRCM in May 2026 to create a global, multi-specialty healthcare revenue cycle management platform. The combined business posted revenue of approximately $160 million and EBITDA of $65 million in FY26, sources said.