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ICICI Securities has upgraded Sun Pharmaceutical Industries to Buy with a revised target price of Rs 1895. Sun Pharma, a leading company in the Pharmaceuticals sector, has reported significant income and profit growth. The company s strategic acquisitions and upcoming drug launches are expected to boost its specialty portfolio, despite a recent stock correction.

Sunil Koul, Emerging Market Equity Strategist at Goldman Sachs, forecasts the Nifty to be range-bound at 23,000 in the next three months due to global uncertainties, particularly US tariffs. However, with an anticipated 12% earnings growth, he projects a 13% upside to 25,500 over 12 months. Koul emphasizes investing in quality companies with resilient earnings and strong fundamentals.

Trading below the 200 DMA is considered a negative signal as it indicates the stock is below its long-term trend line.

While Nifty s valuation is becoming somewhat more appealing, it remains below its historical average. A potential market correction is possible, manifesting as either price or time-based adjustments.

Markets have started 2025 on a highly volatile note, and a correction of over 14% from the highs has naturally raised concerns. However, if we step back and analyze market cycles, corrections are a part of the process, especially after a sustained rally.

Valuations had stretched significantly beyond their long-term averages, with much of the optimism driven by expectations of a sustained 20%+ earnings CAGR.

NTPC Green Energy shares will be in focus after its subsidiary, NTPC Renewable Energy, commissioned the final 50 MW of its 105 MW Shajapur Solar Project. The stock has declined 24% YTD and 32% in three months. Q3FY25 profit surged 52.3% YoY, while technical indicators signal weak momentum as it trades below key moving averages.

U.S. stocks rose on Wednesday due to lower-than-expected inflation data easing a selloff. However, gains were limited by Trump s tariff war. The S&P 500 and Nasdaq closed higher, while the Dow ended modestly lower. Tech stocks led gains. Inflation easing raised hopes for a possible Fed rate cut this year.