Aditya Arora Shares His Market Map: Important Nifty, Bank Nifty, and Two Stock Ideas Levels

With the Nifty breaking above the 23,600 barrier and surpassing its 100-DMA for the first time this year, markets continued their upward trend for the sixth consecutive day. Strong banking and energy equities purchasing, ongoing foreign inflows, and bargain hunting contributed to this broad-based recovery.

Market analyst Aditya Arora of Adlytick gave his prediction in an interview with ET Now, pointing to a robust and spirited recovery in all sectors, particularly in midcaps and small-caps. He remained positive for the medium term even if he acknowledged the potential for a brief cool-off. Here are his opinions on two stock selections, the Nifty and the Bank Nifty.

Correction to be a Purchasing Opportunity:

“I think the market has a nice texture, and the participation of midcap and smallcap makes the rally very energetic and strong because all engines are firing now,” Aditya Arora stated.

He said a cool-off may happen following the Nifty’s one-way surge from 22,000 to 23,600, but it would only be a constructive retracement.

Crucial levels: “Anyone with a medium-term perspective should keep a positive outlook because the correction would present a Purchasing opportunity.” We are once more rushing towards levels like 24,000 and 24,500, so if the Nifty corrects to 23,000 or 23,300, it will be a Purchasing opportunity,” he said.

Bank Nifty Outlook:

Aditya Arora stated, “I maintain a very positive bias on the banking index” regarding Y. The barrier for the Bank Nifty for the day (Monday) is 51,700. However, the celebration has just begun, the rally has just started, and the upswing has just begun.

He pointed out the advantages of both private and PSU banks and anticipates more growth in the future: The Bank Nifty is trading at 51,600 right now. The Nifty may eventually hit 54,000 levels in roughly a month. We keep our bias optimistic and set a 49,000 stop loss.

Jubilant Food:

Aditya Arora has high hopes for Jubilant FoodWorks, particularly in the FMCG sector. As this industry begins to catch up with more general market gains, he sees value developing in it. “It is a bullish candidate at Rs 655, with a target of Rs 690-700 and a stop loss of Rs 620.”

Godrej Agro:

Godrej Agrovet is his second pick because he believes it has much upside potential. This is consistent with his overarching theme of rising strength across market segments and varied industry engagement. “The target is Rs 850, the stop loss is Rs 760, and it is a Purchase at Rs 805.”