“Dharmesh Shah of ICICI Direct expects Nifty to find strong support around 25,200, a level coinciding with the 200-day moving average and 61% retracement. Despite the Nifty's surface weakness, market breadth is improving, and Bank Nifty is outperforming. He anticipates Nifty will eventually target 26,000 in March, with stock-specific action continuing during this consolidation phase.”
Dharmesh Shah’s track record: 6 graded calls · 95% CI 30–90%
Bank NiftyBullishCalled 24 Feb 2026Graded 19 Jul 2026
Bank Nifty decreased from ₹61043.35 to ₹51448.65, a drop of 15.72% in 35 days, which contradicts the bullish expectation.
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