Indian equity markets endured a bruising four-session selloff before finding tentative footing, with the Nifty 50 touching a low of 23,262. For Rohit Srivastava, Founder of Strike Money Analytics and Indiacharts, that number is significant; proprietary sentiment gauges have reached extreme oversold territory, a condition that has historically preceded sharp recoveries.
"The sense is that this is the bottom we should slowly start moving up from here," Srivastava told ET Now, adding that clearing the 23,800 level would be the first confirmation that a meaningful upswing is underway. From there, he sees a path toward 24,800–25,000 over the coming weeks, with the Nifty potentially retesting its all-time highs near 26,000 by the latter half of June.
