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.
