Atul Suri keeps Nifty 30,800 target but calls recent rally a short-covering move
Marathon Trends CEO Atul Suri keeps his 30,800 Nifty target, but says the latest surge is mainly short covering rather than the start of a sustained bull market.
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what happened
Atul Suri, CEO of Marathon Trends and PMS, remains bullish on Indian equities and keeps his Nifty target at 30,800 despite recent volatility. He told CNBC-TV18 on Sunday, November 8, during the Muhurat trading session, that the sharp recent rally is mostly short covering and may not yet mark the start of a lasting bull market.
Suri advises investors to look past one-day gains and focus on stocks that make fresh 52-week highs ahead of the broader market. He is positive on financials, especially capital market businesses, asset managers and non-banking lenders, and sees pharma as showing steady strength. Autos could benefit if crude prices ease. He views gold as consolidating and silver as far more volatile.
why it matters
The view reflects a debate over whether India's rebound marks a new up-cycle or a short-term bounce. For investors, the key question is whether a second phase with leadership rotation into stronger sectors follows.
market impact
Indian equities: the view that the rally is short covering weighs on confidence in sustained gains
instruments
sources
- Muhurat Trading: Atul Suri sees Nifty at 30,800 by next Diwali, highlights themes that could lead the next rally — TradingView, 8 November 2026 at 11:44 UTC
prepared by the newsmetry newsroom with ai assistance from the sources listed below. not investment advice.
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