Nifty 50 Poised for a Record Surge to 30,000 by 2026: Report

A new ICICI Direct report forecasts the Nifty 50 index reaching 30,000 in 2026, driven by technical indicators like the Cup & Handle pattern and historical price behaviors. It highlights potential rallies and identifies crucial support levels for this bullish outlook.

Nifty 50 is expected to hit 30,000 by 2026, bolstered by strong technical factors and historical trends, according to a report by ICICI Direct. The research points to a Cup & Handle pattern breakout as a primary driver, historically yielding a 40% gain within 12-18 months.

This pattern has historically triggered sustained rallies, and recent price actions reinforce the optimistic projection. The upper band of the ongoing rising channel is highlighted as a long-term directional indicator, ensuring continuous upward momentum as long as the structural integrity holds.

The report notes rebounds following bull market corrections of 15-20% could escalate to 28,600 in the medium term before reaching the 30,000 milestone. It identifies 23,500 as a critical support level. Additionally, current market breadth indicators suggest a contrarian investment opportunity, with a reading of 35 likely to spur broad market participation in 2026.

(With inputs from agencies.)