Rahul Ghose, Founder and CEO of Octanom Tech and Hedged.in, believes the Nifty 50 may remain bullish for the rest of the calendar year, ending 2026 around the 26,800-27,000 range. According to reports from Mint, Ghose noted that getting past that level will require crude prices to be stable around $80-85 per barrel, corporate earnings continuing the same momentum, and the reversal of FII outflows. He emphasized that a monthly closing breakout above 26,326 opens up a rectangular pattern target of 30,900, though this kind of decisive breakout looks more like an early-2027 story rather than something that plays out in the next few months.
The Indian stock market extended gains for the second consecutive month in July, supported by FPI buying, healthy Q1 earnings, and lower oil prices, despite volatility. As reported by Mint, the benchmark index Nifty 50 gained 2.2% in July, while broader markets also rallied; the Nifty Midcap 100 rose by 1.8%, and the Nifty Smallcap 100 outperformed, climbing 2.5%. For the near term, geopolitical developments, movement of oil prices, and foreign capital flow will remain the key triggers that will dictate market trends. The single biggest overhang right now is the US-Iran escalation and its effects on crude, which Ghose identified as the variable everyone should be watching more than any domestic data point.
Ghose emphasized that market sentiment is improving and is expected to remain positive for the near term, but it is not a market to be aggressively bullish or bearish on for the rest of the year. According to Mint, he stated that it is a market to be selective in, accumulate quality on dips, don't chase strength, and let the 26,300-26,326 zone tell you when sentiment genuinely shifts from range-trading to trending. He noted that healthy corporate earnings, inflation and interest rates that remain largely under control, and a capex cycle that's genuinely reviving should limit the downside. FII flows have also been more measured than volatile through this phase, and DII buying continues to provide a steady bid on declines.
Ghose highlighted 10 stocks for the rest of 2026 with specific target prices. As reported by Mint, his recommendations include Hero MotoCorp with a target price of ₹6,200 (previous close: ₹5,386), Larsen and Toubro at ₹4,300 (previous close: ₹3,938.90), Info Edge (India) at ₹1,850 (previous close: ₹1,226.25), Divi's Laboratories at ₹8,300 (previous close: ₹8,056), Bajaj Finserv at ₹2,250 (previous close: ₹2,029.10), Titan Company with target prices of ₹5,064 and ₹5,071 (previous close: ₹4,875.20), Dixon Technologies at ₹16,500 (previous close: ₹14,049), BHEL with target prices of ₹520 and ₹537 (previous close: ₹407), BSE at ₹4,148 (previous close: ₹3,646.20), and Eternal at ₹380 (previous close: ₹302.45).
