The domestic brokerage values the Nifty at its 15-year average P/E ratio of 19.1x, using a September 2026 EPS estimate of 1,434, to derive a 12-month target of 27,381 (revised from 27,867). In a bullish scenario, the Nifty is valued at a P/E of 20.1x, resulting in a revised bull case target of 28,750, down from the earlier 29,260.
Tech view: Nifty’s positive sentiment on verge of negation, crucial support at 23,500. How to trade on Monday
Nifty closed below key support at 23,500, signaling further downside risk. Analysts highlight bearish momentum, with potential declines toward 23,260 or lower. Immediate resistance lies
January 10, 2025