Anand James: Nifty target 24,900, Bank Nifty to 57,300
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- Anand James raised his Nifty target to 24,900 from 24,400, citing three consecutive closes above the super trend and a 7% VIX drop below 19 pointing to easing panic-driven swings
- Bank Nifty rebounded from the 50,060 swing low and reclaimed short-term moving averages, with 85% of near OTM put strikes seeing short buildup and bullish weekly reversal patterns in HDFC Bank, ICICI Bank, SBI, Kotak Bank, and Axis Bank
- Nifty IT continues to underperform with subdued momentum indicators and 50% of IT stock futures seeing long unwinding, with near ITM calls witnessing short buildup pointing to consolidation or downside risk
- Nifty Realty rallied 13% in the week, rebounding from the 680-700 support zone with a target of 780-800; DLF, Lodha, Godrej Properties, Oberoi Realty, Phoenix Mills, and Prestige showed weekly reversal patterns including Morning Star formations
- Angel One and Groww both registered consecutive vertical rises but closed with long upper wicks at recent peaks, suggesting traders are booking profits after sharp gains
- Adani Energy Solutions is a buy at CMP 1,157 with a target of 1,300 and stop loss of 1,044, supported by a breakout above the 1,100-1,120 resistance zone and a SuperTrend breakout
- Berger Paints is a buy at CMP 454 with a target of 475 and stop loss of 439, with the daily Supertrend breakout and weekly RSI crossing above its moving average signaling trend reversal after a prolonged decline
Why it matters: Active traders now have a clear weekly playbook: long Bank Nifty with resistance at 57,100-57,300, avoid Nifty IT until reversal signals appear, and ride Nifty Realty momentum toward 780-800. The Nifty target revision from 24,400 to 24,900 — combined with VIX below 19 — indicates James views the recent sell-on-rise phase as over, shifting focus to stock-specific Q4 plays over broad index moves.
