Rohit Srivastava Sees Nifty Rebound Near 24,050; Bullish on Financials, Autos and Realty
Key Takeaways
- •Rohit Srivastava, founder of Indiacharts.com and strategist at Strike Money, views the Nifty's current decline as a narrow correction rather than the beginning of a broader bear market.
- •In a CNBC-TV18 Markets video published on August 19, 2026, he identified the 24,050-24,045 band as a key zone and expects the index to rebound near 24,050.
- •Srivastava expressed a bullish stance on three sectors: financials, autos and realty.
- •His outlook is grounded in technical analysis, using specific price bands as support zones to assess whether the pullback holds.
- •The Nifty 50 tracks 50 large-cap companies on the National Stock Exchange of India and, alongside the BSE Sensex, is one of India's two most widely followed equity benchmarks.
Rohit Srivastava, Founder and Strategist at Indiacharts.com & Strike Money, has said that the Nifty's current decline is a narrow correction rather than the start of a broader bear market, and he expects the index to rebound near the 24,050 mark.
In a CNBC-TV18 Markets video segment published on August 19, 2026, Srivastava pointed to the 24,050-24,045 band as a key zone for the benchmark index. Alongside his read on the index, he flagged a bullish stance on three sectors: financials, autos and realty.
His comments frame the ongoing pullback in Indian equities as limited in scope rather than a turn into bear-market territory. In common market usage, a correction describes a decline of roughly 10% from recent highs, while a bear market is typically defined as a fall of 20% or more. Srivastava's approach is grounded in technical analysis, the study of price charts, trends and support levels that analysts use to assess potential market direction. Within that discipline, a support zone is a price area where an index has tended to attract buying interest based on past price action, which is why specific bands such as the one he cited become reference points for judging whether a pullback holds.
For context, the Nifty 50 is the flagship benchmark index of the National Stock Exchange of India (NSE), tracking 50 large-cap companies drawn from across the major sectors of the Indian economy, and, alongside the BSE Sensex, one of the two most widely tracked barometers of Indian equities. Financial services stocks carry among the heaviest weights in the index, while autos and realty are widely followed cyclical sectors whose performance is often linked to interest rates and domestic demand conditions. NSE also publishes sectoral indices, such as Nifty Bank, Nifty Auto and Nifty Realty, that track the sector groups Srivastava flagged.
Srivastava founded Indiacharts.com, a markets research platform focused on technical analysis, and also serves as Strategist at Strike Money. His full remarks were published as part of CNBC-TV18's markets coverage.
