Nifty IT’s 18% rally may mark a durable leadership cycle; 35,000 next: LKP's Vatsal Bhuva
Executive Brief • Key Highlights
Fast factual intelligence distilled for busy investors, executives, and answer bots:
- ✓Nifty IT’s 18% October rally could signal a sustained leadership cycle, says analyst Vatsal Bhuva.
- ✓He expects the index to target 35,000 as global capital moves toward Indian technology stocks.
- ✓While IT shares surged, the broader market remained under pressure.
Story at a Glance
- Category
- MARKET
- Reported By
- The Economic Times
- Reading Speed
- 7 Minute(s)
- Market Focus
- India Economy
Synopsis
Nifty IT’s 18% October rally could signal a sustained leadership cycle, supported by improving momentum, a bullish RSI crossover and capital rotation from global AI stocks. Analyst Vatsal Bhuva sees the index targeting 35,000. He remains cautious on Swiggy, bullish on Acutaas Chemicals, and recommends buying Persistent Systems and Eternal based on positive technical setups.
Nifty IT’s 18% October surge may be more than an oversold rebound, with improving momentum, a bullish RSI crossover and a reclaim of key moving averages pointing to a possible leadership shift in favour of Indian technology stocks, according to Vatsal Bhuva, technical analyst at LKP Securities. He expects the index to target 35,000 as global profit-booking in AI and semiconductor stocks drives capital rotation towards Indian IT.
Unlock the Full Story with ArthNow Premium
To continue reading this complete financial story and in-depth market context, upgrade to ArthNow Premium. Enjoy unlimited access across Web and Mobile.
The Economic Times
Read the full, original unfiltered story directly on the publisher's portal.