Founder thoughts — 29 May 2026

Today's market action highlighted the strong performance of the metals sector, which outpaced others, while auto stocks also showed resilience. However, IT and banking sectors lagged behind, dampening the broader market sentiment. It’s worth noting that the overall market still lacks concrete signs of recovery, suggesting investors should tread cautiously.

Interestingly, the power sector also played a significant role in today’s performance, reinforcing its importance in the current economic landscape. As we look ahead, expectations are set for public sector banks to take the lead tomorrow, with autos likely following suit.

From a technical perspective, the Nifty index appears poised to target levels around 24,000, albeit with potential support near 23,700 before a bullish run toward 24,800 expected by early April. Retail investors should keep an eye on these key levels while considering sector-specific trends.

In this environment, a diversified approach focusing on robust sectors like metals and power, while being cautious with IT and banks, could be beneficial. Staying informed and adjusting positions as the market evolves will be crucial in navigating the weeks ahead and capitalizing on potential opportunities.