Nifty IT’s 18% October rally may signal lasting leadership
In short
Nifty IT has risen 18% in October, and analyst Vatsal Bhuva says that may mark a stronger leadership phase.
He sees the index moving toward 35,000 and likes Persistent Systems and Eternal. The report does not say how long the rally will last or whether the target will be met.
What the reporting says
Nifty IT’s 18% October rally was cited as a possible sign of a sustained leadership cycle, with analyst Vatsal Bhuva pointing to improving momentum, a bullish RSI crossover and rotation from global AI stocks. He sees the index targeting 35,000 and named Persistent Systems and Eternal as buys, while staying cautious on Swiggy and bullish on Acutaas Chemicals. What remains unknown is whether the rally will continue and how soon the target could be reached.
Why it matters
Nifty IT’s 18% October rally is being framed by analyst Vatsal Bhuva as a possible durable leadership cycle, helped by stronger momentum, a bullish RSI crossover and rotation away from global AI stocks. He set a 35,000 target and highlighted Persistent Systems and Eternal as buys, while remaining cautious on Swiggy. The source does not quantify the timing or confirm that the trend will continue.