As we step into Samvat 2082, the banking index appears well-poised to continue its leadership role in the Nifty 50 rally, Sudeep Shah, Head - Technical Research and Derivatives at SBI Securities, said in an interview to Moneycontrol.
According to him, as long as the index holds above the key support zone of 57,100–57,000, the bulls are likely to maintain control. On the upside, the next immediate targets are placed at 58,500 and 59,000, levels that could be tested in the near term, he said.
For the Muhurat trading scheduled for an hour on October 21, he advised building a portfolio with five largecaps - M&M, Bharti Airtel, Paytm, Godrej Properties, and Titan Company.
He believes the gold’s upward trend looks poised to sustain into the new year, backed by macro resilience, steady demand, and a cautious global mood.
What are your top five stock picks to buy on Muhurat Trading Day to build a strong portfolio by the end of Samvat 2082?
M&M broke out of its long-standing resistance zone of Rs 3,250–3,300 zone and moved higher steadily, a zone it struggled to cross for over a year. The breakout in mid-August, aided by the GST cut announcement, triggered strong bullish momentum. M&M continues to trade above all key moving averages, reflecting sustained strength. Hence, we recommend accumulating the stock in the zone of Rs 3,650-3,600 with a stop-loss of Rs 3,400. On the upside, it is likely to test the level of Rs 4,200 in the medium term.
Bharti Airtel has consistently found support at its 20-week EMA, rebounding strongly each time it faced selling pressure. The stock continues to move in a higher high, higher low formation, underscoring its sustained uptrend. After consolidating within the Rs 1,850–1,980 range since late July, it has delivered a sharp breakout above this zone, signalling renewed bullish momentum. Hence, we recommend accumulating the stock in the zone of Rs 2,020-2,000 with a stop-loss of Rs 1,900. On the upside, it is likely to test the level of Rs 2,300 in the medium term.
Godrej Properties had been consolidating within a Rs 1,930–2,160 range since early August. Over the past three weeks, the stock has broken out above this range, supported by a noticeable rise in volumes, confirming strong buying interest. With the realty sector rebounding after a phase of underperformance, Godrej Properties appears poised to lead the up move within the space. Hence, we recommend accumulating the stock in the zone of Rs 2,240-2,210 with a stop-loss of Rs 2,100. On the upside, it is likely to test the level of Rs 2,550 in the medium term.
Titan has shown impressive resilience around the Rs 3,300–3,320 zone, which aligns with its 50-week EMA — a zone that has twice acted as a strong support, triggering sharp rebounds each time. With price action forming a double-bottom pattern, Titan appears poised for a potential breakout and continuation of its up move. Hence, we recommend accumulating the stock in the zone of Rs 3,680-3,640 with a stop-loss of Rs 3,480. On the upside, it is likely to test the level of Rs 4,200 in the medium term.
One 97 Communications (Paytm)
Paytm had faced stiff resistance in the Rs 1,000–1,050 zone for a prolonged period before finally breaking out toward the end of July, marking the start of a strong upward move. Post breakout, the stock moved higher, hugging the upper Bollinger Band, a bullish sign that indicates sustained buying momentum and strong demand at higher levels. Hence, we recommend accumulating the stock in the zone of Rs 1,290-1,270 with a stop-loss of Rs 1,210. On the upside, it is likely to test the level of Rs 1,450 in the medium term.
Do the charts give you the conviction that Nifty 50 can reach the 29,000–30,000 zone in Samvat 2082?
The Nifty has been in a remarkable recovery mode after hitting a recent low of 24,587 on September 30, 2025. In just 13 trading sessions, the index has rallied close to 1,200 points, or about 5 percent, to mark its highest closing level since October 2024. This up move reflects a clear return of optimism and strong buying interest across sectors.
A major driver of this resurgence has been the Bank Nifty, which has already surged to a fresh all-time high. From its September low of 54,226, the index has gained more than 3,600 points, underscoring the strength in financials and their leadership in the current uptrend. On the technical front, the Nifty has given a Symmetrical Triangle breakout on the daily chart — a classic bullish continuation pattern. All major moving averages are trending upward, and momentum indicators like RSI and MACD are confirming the strength of the ongoing rally.
While it may be premature to project extremely optimistic levels like 29,000–30,000, given the strong technical structure and improving macros, Nifty could well move towards the 27,000 zone in Samvat 2082. Any short-term consolidation should be viewed as an opportunity to accumulate fundamentally strong, quality names rather than chasing speculative or illiquid counters.
Which sectors could be attractive as contra bets for Samvat 2082?
From a technical standpoint, in Samvat 2082, Nifty Private Bank, Financial Services, Automobile, Infrastructure, Realty, Healthcare, and Pharma sectors are likely to continue their outperformance. These sectors are showing strong chart structures, supported by bullish momentum indicators and trend strength.
Are you betting big on the banking index in the new Samvat, given its outperformance against Nifty 50 so far?
If there’s one pocket that has clearly taken charge of the market’s momentum in recent weeks, it’s the Bank Nifty. The banking index has been showing remarkable strength, consistently outperforming the broader Nifty and other frontline indices. While the Nifty still trades about 2.15 percent below its all-time high, the Bank Nifty has already gone ahead and clocked a new record high, reinforcing its leadership role on Dalal Street.
From a technical perspective, Bank Nifty continues to look robust. The index recently gave a decisive breakout and is now comfortably trading in uncharted territory. As long as the index holds above the key support zone of 57,100–57,000, the bulls are likely to maintain control. On the upside, the next immediate targets are placed at 58,500 and 59,000, levels that could be tested in the near term.
As we step into Samvat 2082, the banking index appears well-poised to continue its leadership role. The early strength from PSU banks, combined with the resurgence in private banking names, has built a strong foundation for a continued-up move.
Do the gold charts suggest that the upward trend will sustain in the new year as well?
Gold has once again emerged as a preferred asset class amid global uncertainty, with charts suggesting that the upward trend could sustain in the new year, albeit with intermittent pauses. The yellow metal has been in a steady uptrend, supported by multiple global and domestic factors. Geopolitical tensions, trade-related uncertainty, and slowing global growth have kept risk sentiment muted, prompting investors to move towards safer assets. Central banks across the world have continued to diversify their reserves, remaining net buyers of gold, which has provided a strong base for prices.
Domestically, festive and wedding season demand could further support prices in rupee terms. Another important factor to observe is the Sensex-to-Gold ratio. The ratio compares the performance of Indian equities to gold. Over the past year, this ratio has fallen sharply, but interestingly, the decline has been largely driven by gold’s outperformance rather than a major fall in equities.
In other words, this represents a soft rotation toward safety, not a fear-led exit from risk assets. With the Sensex down just 2.41 percent from its all-time high, the equity market has not yet seen the deep correction typically associated with durable bottoms in this ratio. The macro setup also favours gold in the near term, with expectations of rate cuts by central banks, easing crude prices, and stable currency movements providing additional tailwinds.
Gold’s upward trend looks poised to sustain into the new year, backed by macro resilience, steady demand, and a cautious global mood. Yet, for investors, the ideal approach would be diversification—holding gold for safety while keeping dry powder ready to deploy into equities once market sentiment and valuations turn favourable.
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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