In runup to election, Nifty can surge 15% to 24K, Bank Nifty 20-25%: Hemang Jani

economictimes.indiatimes.com:

Hemang Jani, independent market expert, says “while midcaps and smallcaps had run up earlier, the Nifty, the banks and many stocks which are part of Nifty, did not. It would be a great idea to look at some of the Nifty-based stocks, be it in banks, be it auto, domestic consumption, some of the FMCG names. ITC has started moving after a long time, Titan. So consumption and capital goods and banks are going to be the main pillars on which you can build your pre-election rally portfolio.”


Why did the Adani Group of stocks really make a comeback in the last two days?
If you look at the chronology of events, first we had the Supreme Court withholding the order but the tone of the verdict was that they need to look at what actually are the facts and we should not go by what Hindenburg said. That gave a lot of relief to market participants, followed by the state election outcome where the BJP turned out to be a major winner and much better than market expectations.

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People have also started building a swift victory for the current alliance in Lok Sabha. So, a part of that has something to do with this chronology of events. I think that it is a high beta company. We also had some positive news flow in the US market, though I am not too sure about the reliability of the due diligence which was undertaken by a US agency on the loan given to Adani Port, also there was something positive.
So my thinking is that if you really want to participate in this pre-election rally, which could