Nifty May Slide to 22,000; Buy Ather, Sell BDL: Analyst
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- Nagaraj Shetti of HDFC Securities says the Nifty is in a firm downtrend with every rise being sold, and the recent bounce near 23,400–23,500 has formed a lower top.
- Shetti sees the Nifty breaking below the 22,450 psychological support and sliding toward 22,000 in the coming weeks, citing rupee and crude oil as key concerns.
- Shetti views Coal India as relatively strong despite its correction, flagging 430–435 as solid support and a near-term bounce target of 475–480 on its positive higher-tops-and-bottoms trend.
- Shetti recommends buying Ather Energy around current levels after it broke key resistance near 750–760, setting a target of 850 and a stop loss at 760.
- Shetti recommends shorting BDL on a clear bearish pattern, with a sell target of 1,070 and a stop loss at 1,160.
- Shetti flags that with multiple expiries and limited trading sessions ahead, volatility is likely to stay elevated even as selective stocks outperform.
Why it matters: Shetti's levels give traders a defined downside path: Nifty 22,000 from current ~22,450 support, Ather Energy with a ~13% upside to 850 from the 750–760 breakout, and BDL with a ~8% downside to 1,070 from the 1,160 stop. The bearish index call sits alongside two bullish stock picks, showing a market where index weakness and selective stock strength coexist — classic stock-pickers' terrain where individual trades can diverge sharply from the headline trend.
