“Bullish on Nifty 50, retaining a 12-month rolling target of 28,000 (20x P/E on FY28E), with Sensex at 93,000. This is based on a healthy earnings cycle, with Nifty 50 EPS expected to grow at a 16% CAGR over FY26–FY28E, despite potential near-term moderation in Q2FY27 due to elevated commodity prices.”