Indian equity markets have resumed their upward trend following a two-month corrective phase, and a report suggests that the benchmark Nifty index could reach the 27,000 mark by March 2026. According to Bajaj Broking, the Nifty index achieved a higher high on the monthly chart for the first time in three months. The forecast indicates that the Nifty will maintain its bullish momentum and approach its previous peak of 26,277 in the coming months. A significant breakout above this level is anticipated to trigger a rally towards 26,800 to 27,000 by March 2026.
Analysts from the brokerage noted that the markets have recently consolidated with notable resilience despite increasing geopolitical tensions and tariff changes, signaling a healthy retracement within a longer-term upward trend. This price action reinforces the prevailing positive sentiment and risk appetite among investors. In this context, a ‘buy-on-dips’ strategy is recommended, with solid support expected near the 24,400 to 24,300 levels, which is not likely to be breached in the near future. Analysts have identified technical support at 24,400 to 24,300, corresponding with the 20-week exponential moving average and reflecting the lows observed over the past two months.
The Nifty’s 20- and 50-day EMAs, along with a rising trendline connecting significant highs and lows of 2025, converge around 24,800 to 24,700 in the short term.