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Gautam Shah Predicts Nifty 23,500-24,000; Flags IT, PSUs, FMCG Opportunities
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CNBC TV18•05-10-2026, 12:01
Gautam Shah Predicts Nifty 23,500-24,000; Flags IT, PSUs, FMCG Opportunities
- •Gautam Shah, Founder of Goldilocks Global Research, expects a near-term recovery for Indian equities after the recent sell-off, with Nifty potentially reaching 23,500-24,000.
- •Shah believes valuations and technical indicators are now more comfortable, with Nifty finding support around the 22,000-22,500 zone.
- •He is constructive on the market but emphasizes stock-specific strength, particularly in microcaps and smallcaps, rather than broad largecap performance.
- •Financials and IT are preferred sectors, with Shah seeing the worst over for technology and expecting a comeback for financial stocks.
- •Investors should focus on value, with opportunities in select PSUs, FMCG companies (due to potential consumption recovery), and non-ferrous metal stocks.
Key Questions Answered
Gautam Shah expects the Nifty to find support around the 22,000-22,500 zone with a possible recovery towards 23,500 and a best-case scenario of 24,000. He also notes that largecaps may continue to underperform while a stock-specific bottom-up approach thrives.
Shah flags financial stocks, technology, public sector undertakings (PSUs), FMCG, and select non-ferrous metal stocks as attractive opportunities. He highlights that the worst may be over for the technology sector and sees signs of a bottom forming in FMCG.
For investors with a 12 to 18-month horizon, Shah highlights energy-related stocks, power, and the travel and tourism theme as areas expected to perform well following recent weakness.
