Ashish Kyal, the CMT, Founder and CEO of Waves Strategy Advisors is extremely bullish on Nifty 50 for the Samvat 2082 which begins today.
He sees the index reaching towards 28,000 and eventually 32,000, aligning with its long-term forecast from 3-5 years ago.
He has picked five stocks - JK Tyre and Industries, Hero MotoCorp, Godrej Properties, InterGlobe Aviation, and BSE - for Muhurat trading day. "The top sector picks for the new year are consumer discretionary including auto and auto ancillary, financial sector, and IT," he said in an interview to Moneycontrol.
What do you expect from the Samvat 2082?
The biggest learning I've had from Samvat 2081 is to always expect the unexpected. Markets continued to climb despite various global events, including Trump's tariff announcements and geopolitical tensions. India, in particular, showed resilience by continuing to move higher despite a 50% tariff. The key takeaway? Ignore the noise and focus on charts, especially the two crucial indicators: price and time.
We clearly saw Bank Nifty touching lifetime highs recently, financial stocks have been doing well, 2-wheeler auto companies have started out performing which shows that we are in an early growth phase. This usually happens when the interest rate starts dropping and the interest sensitive stocks start coming out from the bottom. This rally is going to be broadly participated and we should start seeing even the underperforming sectors like IT to slowly and steadily reverse back on the upside.
What are the top 5 picks to buy on Muhurat trading for Samvat 2082?
Tyre companies stocks have started to pick up the momentum. In which, JK Tyre is on the verge to give breakout of the Rounding bottom pattern on the weekly chart. Since past 3 weeks prices are showing formation of higher highs and higher lows suggesting buying interest from lower levels. For now, one can use dips as a buying opportunity with the aim of Rs 670 levels as long as Rs 310 remains protected on the downside.
Auto sector continued to shine. In which, Hero MotoCorp is expected to outshine post outperformance by its peers. The stock is probably moving up in the form of wave 3rd as per Elliott wave and upside target is near Rs 7,200 levels. On downside, Rs 4,800 is good support zone.
The stock is trading in a rising parallel channel and have recently bounced from the channel support which is a bullish sign. Prices are expected to start wave 3 on the upside and a break above Rs 2,560 level can confirm about the same which can push prices higher towards Rs 3,500 level with Rs 2,050 as an important support level.
IndiGo is following higher highs and higher lows structure. Currently we are seeing attempt of gap filling which was formed at the end of August 2025. On the daily chart, post MACD crossover, green histogram continues to form over zero line indicating sustained buying. So, for now as long as price holds above Rs 5,600 level, a move to Rs 6,800 level followed by Rs 7,400 on upside is possible.
At the start of October 2025, prices reversed from major price action support area of Rs 1,950 level and have been protecting prior candle’s low on weekly basis ever since. One can use dips towards Rs 2,200 level as an opportunity to create fresh long with upside targets of Rs 2,800 or higher to Rs 3,000 followed by Rs 2,800 levels. On the downside, Rs 2,000 should remain protected.
What is your trading strategy for Muhurat Trading Day?
Based on past observations, Nifty often shows a gap-up opening on Muhurat trading, followed by consolidation and profit booking. Prices can touch 25,950 - 26,000 levels on Muhurat Trading day. Post this we can see short term profit booking the next day.
So, strategy is to buy the stocks from long term perspective and from index options trading sell OTM (out-of-the-money) options which can deteriorate as India VIX starts cooling off again.
Do you expect the Nifty 50 beyond 30,000 zone in new Samvat?
I'm extremely bullish on Nifty for the new Samvat. We could see it reaching towards 28,000 and eventually 32,000, aligning with our long-term forecast from 3-5 years ago. Despite pessimistic events, Nifty has shown relative outperformance. I anticipate money flowing back to India, with FIIs covering their short positions, potentially driving markets to new highs.
Will the Bank Nifty be the star performer in the new Samvat?
The Nifty Bank index has exhibited strong performance, reaching new all-time highs and outperforming the broader market. The momentum may continue into the new Samvat year with participation from Private sector banks as well!
Over short-term chances of minor profit booking cannot be ruled out post sharp rally but eventually Bank Nifty should head towards 69,000 levels in new Samvat.
What are your sector bets for Samvat 2082?
My top sector picks for the coming year are consumer discretionary including auto and auto ancillary, financial sector, and IT.
The IT sector, which has been lagging, should start catching up. However, it's crucial to watch price action for the next few weeks before making definitive bets on these sectors.
What is your take on the midcap and smallcap space for the new year?
One should keep close eye on Midcap 100 as it is expected to continue to take a lead in Samvat 2082. It has formed an inversed Head and Shoulders Pattern on the weekly chart. A break above 59,960 can confirm the breakout of the pattern and post which primary target as per right shoulder length comes near 64,600 levels.
Usually during the start of rally we see largecap performing well but eventually midcap and smallcap stocks starts catching up with good momentum.
Disclaimer: The views and investment tips expressed by investment experts on Moneycontrol.com are their own and not those of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.
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