DBT Bureau
Pune, 9 Nov 2026
The Indian stock market could witness further gains during Samvat 2083, with the Nifty 50 potentially moving towards 27,100–27,500, according to the latest market outlook released by Kedia Advisory. The research firm has maintained a positive view on the market, supported by India’s economic resilience, improving corporate earnings and strong domestic investment flows.
According to the report, the Nifty 50 closed at 25,030.35 on November 6, 2026, registering a weekly gain of 8.58%. The sharp recovery was supported by foreign institutional investor (FII) buying, cooling crude oil prices and improving global market sentiment.
However, the firm believes that the market needs sustained earnings growth and stable macroeconomic conditions to continue its upward movement.
India’s economic growth to support markets
India’s economic performance remains one of the major supporting factors for the domestic equity market. The Reserve Bank of India (RBI) projected real GDP growth of 7.1% for FY27 and 7% for FY28 in its October 2026 estimates.
Gross fixed capital formation is expected to grow by around 8.5% in FY27, while private consumption is projected to increase by 6.9%.
Government infrastructure spending, manufacturing investments, capacity expansion, improving logistics and rising domestic consumption are expected to create opportunities across several sectors.
Kedia Advisory identified capital goods, banking, construction, automobiles and industrials as sectors that could benefit from India’s growth momentum.
Corporate earnings emerge as key market trigger
Corporate earnings are expected to play an important role in determining the market’s direction during Samvat 2083.
The report estimates Nifty earnings growth of around 16–18% in FY27, compared with approximately 5% in FY26. The forward earnings per share (EPS) is expected to reach ₹1,290, while the indicative one-year forward valuation stands at 16.4 times.
The research firm also highlighted improving corporate balance sheets, lower leverage, stronger cash generation and better operating efficiency as positive factors.
According to the report, the next sustainable market rally needs to be supported by actual earnings growth rather than liquidity alone.
Banking sector remains in focus
The banking and financial services sector could remain central to India’s investment outlook during 2027.
Bank credit growth is projected at around 16% in FY27, according to RBI professional forecasters. Improving asset quality, stronger capital adequacy, healthy profitability and disciplined lending are expected to support the sector.
Rising credit demand from retail, housing, infrastructure and corporate segments could further strengthen banking sector performance.
Key Nifty levels to watch
From a technical perspective, Kedia Advisory identified 22,000–22,180 as the major structural support zone for the Nifty 50. The index has repeatedly attracted buying interest around these levels.
On the upside, 26,325–26,375 represents a major resistance zone, based on previous market highs.
A sustained move above 26,375 could open the way for the Nifty to advance towards 27,100–27,500. The report also identified intermediate support levels at 24,721, 24,270, 23,605 and 22,734.
The weekly chart analysis highlighted a sharp rebound from the long-term moving average and a bullish signal following a weekly close above the Ichimoku Cloud.
Global risks remain a concern
Despite the positive outlook, the research firm highlighted several risks that could create volatility in the domestic market.
These include El Niño-related weather disruptions, higher food inflation, a possible correction in AI-related valuations, changes in US monetary policy, dollar movements and geopolitical developments.
The report also identified state elections in 2027 as a potential source of temporary policy uncertainty and market volatility.
Crude oil prices and global investor risk appetite will remain important factors influencing foreign institutional investment flows.
Buy on declines remains the strategy
Kedia Advisory has recommended a disciplined accumulation strategy for Samvat 2083 rather than aggressive buying at higher market levels.
The firm believes investors should use market corrections towards important support levels to accumulate fundamentally strong companies with visible earnings growth.
Banking, infrastructure, manufacturing, capital goods and selected consumption stocks are among the sectors identified for potential opportunities.
Overall, Kedia Advisory remains positive on the Indian equity market, with a one-year Nifty 50 objective of 27,100–27,500. However, the target is conditional on earnings growth, stable inflation and supportive global liquidity. The firm has also advised investors to remain disciplined and avoid chasing market momentum.
Source: Kedia Stocks & Commodities Research Pvt. Ltd., Nifty 50 Outlook – Samvat 2083, November 2026. Market outlook and targets are conditional and are not guaranteed returns.
