![]() ![]() In the last month, the Nifty IT index has rallied over 7%, while from April lows, it has surged 18% with easing odds of a recession in the US and the emergence of artificial intelligence as a potential new source of revenue driving a rebound in their stocks. ![]() In the next leg of the rally, banking, infrastructure, and oil and gas should lead from the front, as their charts look very bullish," the LKP analyst added. "The recent rally was driven by IT, oil and gas, and banks, which took the Nifty from 19,000 to 19,800. Rupak De, Senior Technical Analyst, LKP Securities, said with the current bullish sentiment in the market, it seems very likely that the index will reach this milestone soon. Which stocks may emerge heroes for Nifty? We would advocate staying light on positions as we head into uncharted territory with overbought conditions and take a pragmatic approach while reaching the milestone of 20,000," Krishan added with a note of caution. "The immediate hurdle for the Nifty50 lies in the range of 19,850-19,900 before it reaches the much-anticipated 20,000 mark.
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