Gautam Shah, Founder of Goldilocks Global Research, maintains a positive outlook on the Indian equity market, expecting the Nifty to reach 26,700 by the end of the year and 27,500 in the medium term. He sees the key breakout level at 26,100 as the trigger for the next leg higher, supported by stabilizing global cues, easing FII selling, strong domestic liquidity, and favorable GST measures.

Shah highlights opportunities beyond the headline index, noting midcaps are at lifetime highs while smallcaps could touch 20,000 in the coming months. The Bank Nifty is a market pillar, having surpassed the 58,500 mark, with potential to reach 60,000 near-term and 67,000 eventually. He remains most optimistic about PSU banks, which he believes still have 15–20% upside, while private banks are expected to remain stable performers.

He has also turned positive on NBFCs and housing finance companies, aided by economic recovery and RBI support, but cautions on gold loan companies, recommending profit-booking. Shah reaffirms a bullish stance on metals, targeting 12,000 for the NSE Metals Index, suggesting strong technical charts support further gains.

Conversely, he remains negative on the IT sector, forecasting underperformance over the next few months, and advises caution in gold and gold-financing stocks after recent rallies.