Nifty’s Monday pullback is a technical dip, not a trend reversal, says HDFC Securities analyst Nagaraj Shetti. After forming a higher bottom, the index finds strong support at 23,400-23,500, with 24,500 the near-term target once it clears 24,100. Shetti recommends buying Glenmark Pharmaceuticals (target Rs 2,310, stop Rs 2,150) and Oberoi Realty (target Rs 1,800, stop Rs 1,630).
Bleak Winter! Why analysts are hinting at painful October even after 8 weeks of Nifty correction?
The global backdrop remains the biggest problem. US yields above 5%, a firm dollar, higher crude prices and rupee weakness make India more vulnerable.
October 3, 2026