ICICI Direct's technical research says Nifty 50 may touch 30000 pts in 2026
This story was originally published at 13:04 IST on 12 December 2025
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--ICICI Direct technical research: See Nifty 50 rising to 30000 in 2026
MUMBAI – ICICI Securities' retail equity division expects the Nifty 50 to touch 30000 points in 2026, according to the brokerage's technical research team. This implies the Nifty 50 may rise over 15% from the current levels.
It said the percentage of stocks outperforming benchmark indices came down to 35% in 2025 as compared with 52% a year ago. "Historically, a reading below 40 has marked a turning point, garnering double-digit average returns in subsequent year," the brokerage said.
It expects a large part of the gains to come from banking stocks next year. The Nifty Bank index is likely to move close to 67000 points next year, implying a rise of nearly 13% from the current levels.
Within the broader market, it expects small-cap and mid-cap indices to rise 22-25% in 2026. The Nifty Midcap 100 index may rise to 75000 points and the Nifty Smallcap 100 index may rise to 21200 points. "Corrections (in small-cap index) part of bull market; ignore noise and start accumulating," it said.
The brokerages argue Indian equities are set to outperform global markets next year after the recent underperformance. "Retesting of multi-year breakout signifies Indian Market is ready for resumption of outperformance, as the MSCI India/EM ratio sustains above clean long-term rising trend," the brokerage said.
The underperformance of information technology stocks in India may also end next year. The brokerage said the Nifty IT-Nasdaq ratio has reached a bottom and "past instance suggests that whenever this zone is tested, Nifty IT has consistently outperformed the Nasdaq over the subsequent one-year period." End
Reported by Anshul Choudhary
Edited by Deepshikha Bhardwaj
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