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Technical indicators point to a bullish trend as the Nifty breaks out of a five-week consolidation, paving the way for an extended rally toward 25,200 in coming weeks, according to analysts. Stocks like Reliance, SBI, Infosys, L&T, Axis Bank, PFC, Titan, National Aluminium, Natco Pharma, MCX, CDSL, BSE, and Indian Hotels are poised for short-term upside, they added. 116119419DHARMESH SHAH HEAD OF TECHNICALS, ICICI SECURITIESWhere is Nifty headed this week? On expected lines, Nifty logged a resolute breakout from fi ve weeks of consolidation (24,500-23,300) that augurs well for the extension of the ongoing up-move towards 25,200. Meanwhile, the follow-through strength in Bank Nifty post two months of consolidation breakout signifi es acceleration of upward momentum that makes us believe Bank Nifty would eventually challenge lifetime highs of 54,400. FIIs have turned positive during the week as they remained buyers on three out of fi ve sessions. FIIs’ comeback would boost the sentiment going ahead. What should investors do? The formation of higher peaks and troughs supported by signifi cant improvement in market breadth augurs well for the durability of the ongoing up-move. Any temporary breather should be utilised to accumulate quality stocks on dips as immediate support is placed at 24,000. BFSI, capital goods, infra, IT, and pharma would be in focus; while realty, and metal offer bargain buy opportunities. In large-caps, Reliance, SBI, Infosys, L&T, Axis Bank, PFC, and Titan look good for 5-6% gains. Among midcaps, Persistence, Lemontree, National Aluminium, Natco Pharma, IREDA, Midhani, Sona BLW Precision look good from 8-10% prospective. AJIT MISHRA SVP-RESEARCH, RELIGARE BROKINGWhere is Nifty headed this week? On technical front, Nifty has shown impressive recovery over the past three weeks, retracing more than 50% of its correction from the record high of 26,277.95 to the November 21 low of 23,263.15. The index has reclaimed all key moving averages, establishing a support base of around 24,300. A decisive move above 24,800 could further accelerate the recovery, targeting the 25,100-25,300 zone. What should investors do? We maintain a ‘buy on dips’ view. While IT and banking sectors continue to show sustained outperformance, selective contributions from other sectors are crucial to sustaining the momentum. Additionally, while broader indices remain buoyant, it is important to focus on fundamentally strong stocks in the mid-cap and small-cap segments, as these counters are also prone to sharp decline during the corrective phases. We have identifi ed a list of stocks from the F&O universe that may be suitable for short-term positions for both long and short trades. Stocks that are bullish on charts include APL Apollo, Bank of Baroda, Canara Bank, Grasim, JSW Steel, Jubilant Food, L&T, and Varun Beverages. Bearish on Asian Paints, Can Fin Homes, Cipla, Coal India and Oil India.CHANDAN TAPARIA ANALYST-DERIVATIVES, MOTILAL OSWAL FINANCIAL SERVICESWhere is Nifty headed this week? Nifty negated the formation of lower top - lower bottom on weekly scale and witnessed a decent follow-up rally last week. The index had formed a short-term bottom near 23,300 zones which is a 50-week exponential moving average. Recently, it captured the 50% retracement of its previous declines from 26,277 to 23,263, and the base is shifting higher to reclaim the psychological 25,000 mark. It formed an inverted head & shoulder pattern on a daily scale which has bullish implications and witnessed momentum by surpassing the key juncture of 24,444 zones. However, it had a volatile Thursday, being a weekly expiry, but a meaningful decline is being bought. It formed a small-bodied candle on daily chart while a bullish candle on a weekly scale which indicate some consolidation but overall buying interest could emerge. What should investors do? Now Nifty needs to hold 24,444 zones to extend the recent swing towards 25,000-25,200. On the downside, key support exists at 24,250 and 24,000. Positive on Nifty IT, capital market and digital India for the short to medium term. Stocks-wise bullish setup in MCX, CDSL, BSE, Indigo, Bank Baroda, Tata Power, Axis Bank, Indian Hotel and Persistent; while weakness is seen in Asian Paints, Can Fin Homes.

It’s not often that the world faces challenges that threaten to turn the established order upside down. The age of chaos and uncertainty seems to be at our doorstep.How can India and its businesses navigate the rough seas that threaten fortunes built over decades through innovation and hard work?A distinguished panel led by Reliance Industries chairman Mukesh Ambani will discuss ways of facing the coming disruption that will be sparked by tectonic shifts in political economy that look set to rewrite the laws of global trade, at ET’s CEO Roundtable on Wednesday, December 11.Kumar Mangalam Birla, chairman of the Aditya Birla Group, whose business interests span continents, will join Ambani and billionaire banker Uday Kotak, who built Kotak Mahindra Bank into one of India’s top financial institutions, on the powerpacked panel to debate on the topic ‘Changing World Order: Time for Cautious Optimism or Embrace of Animal Spirits?’. 116114933Veteran lawyer Zia Mody of AZB Partners, Hindustan Unilever chief executive officer Rohit Jawa and Lakshmi Venu, director, TAFE will provide their unique perspective on how to overcome the obstacles that are being erected.Looking at Best Management Practices Swiggy founder Sriharsha Majety, along with Mahindra Group CEO Anish Shah, Deloitte South Asia CEO Romal Shetty, and Apollo Hospitals’ Preetha Reddy will be tapped for their insights into best management practices aimed at promoting business growth. 116114936The event promises to deliver a timely and valuable understanding on dealing with the coming epoch of tumult to an audience of equally eminent CEOs, founders and financiers.

Mumbai: Miffed with regulatory refusal to grant a no-objection certificate for the initial public offering of the National Stock Exchange (NSE), a group of investors led by the People Activism Forum has once again approached the Delhi High Court, seeking directions for Sebi to approve the listing of shares of the country's biggest bourse.In an affidavit filed last week, the People Activism Forum argued that even three months after NSE reapplied for Sebi's green light on August 27, 2024, the market regulator was yet to provide a valid justification for withholding permission for the IPO or the listing of NSE shares.The investors claim that National Stock Exchange's existing shareholders are being denied the opportunity to unlock the value of their shares, while the general public is being deprived of the chance to participate in NSE's profits through the open market.NSE shares are among the most sought-after stocks in the unlisted market, with their value more than doubling this year from ₹900 to ₹1,800 (post-bonus adjustment) on expectations of an early IPO. In November, NSE issued four bonus shares for every one share held.D-Mart founder Radhakishan Damani owns around 1.58% of the bourse, of which Life Insurance Corporation (LIC) is the largest shareholder - at 10.72% stake as of November 2024. Stock Holding Corporation and SBI Capital Markets each hold approximately 4.4%, while State Bank of India owns 3.23%. Among foreign investors, Aranda Investments holds a 5% stake. 116119356The Forum had initially filed a writ petition on May 3, 2024, seeking court intervention in the NSE IPO process. In response, Sebi said that NSE needed to reapply for the no-objection certificate, which the exchange did in August.The investors further contend that post-listing, NSE would be subject to stricter regulatory scrutiny than now, as is standard for listed entities.Sebi opposed the petition arguing that People Activism Forum has no locus standi to file the petition.Further, if the Court passed the order, it could set a precedent for third parties to challenge orders or directions passed by Sebi. The market regulator cited the pendency of Colocation issues for not permitting NSE to proceed with the IPO. Sebi also remarked that NSE has not recently made any express request for the issuance of NOC for a listing of shares. Therefore, Sebi denied that it is delaying listing permission to NSE. An email query sent to Sebi and NSE did not elicit any response until Sunday press time. NSE, in its reply, clarified that NSE had complied with Sebi’s regulatory framework and directives and expressed its no objection to the relief sought by People Activism Forum. NSE further clarified that it had regularly sought NOC and listing permission and brought on record the latest correspondences dated May 14, 2024, and August 27, 2024, addressed to Sebi to substantiate the same. The matter is scheduled to be listed on March 6, 2025, for a final hearing. In 2016, NSE filed a draft prospectus with Sebi for its IPO. Around the same time, Sebi started investigating the co-location scam. In 2019 the bourse had withdrawn its IPO documents amid the investigation. But in 2022, NSE again approached Sebi but was advised not to proceed. On September 9, 2024, Sebi closed the co-location case against the NSE on grounds of lack of sufficient evidence.