GMDC, IDFC First Bank: Expert shares outlook, key levels to watch
Sharing his views on Gujarat Mineral Development Corporation Ltd (GMDC), the market expert said the stock continues to offer upside potential at current levels.
- Aug 1, 2026,
- Updated Aug 1, 2026 9:00 AM IST
Pradip Halder, Founder and CEO of PHD Capital, in an interaction with Business Today TV (BTTV) on Friday, maintained a bullish view on the domestic equity market.
He sees 24,000 as a strong support level for benchmark Nifty50 and believes the index could move towards 24,650-24,700 in the near term.
Halder said the broader market structure remains positive and advised investors to stay focused on fundamentally strong stocks.
Sharing his views on Gujarat Mineral Development Corporation Ltd (GMDC), Halder said the stock continues to offer upside potential at current levels.
"One can consider buying GMDC at the current levels. Investors already holding the stock should continue to maintain their positions," he said.
According to Halder, GMDC has the potential to rally towards Rs 850-900 over the near term.
On IDFC First Bank Ltd shares, the market expert recommended that existing investors continue holding the stock while maintaining a stop loss at Rs 76.
He noted that the private lender's counter is facing immediate resistance in the Rs 93-94 zone. A decisive breakout above this range, Halder said, could pave the way for further gains.
"Only a decisive upmove beyond Rs 93-94 can trigger the next leg of the rally towards Rs 110-120," he said.
GMDC gained 0.61 per cent to settle at Rs 563.15, while IDFC slipped 0.04 per cent to close at Rs 84.70.
Meanwhile, domestic equity indices extended their gains for the third straight session on Friday, supported by strong buying in automobile, financials, pharma, energy and media stocks.
The 30-share BSE Sensex pack advanced 166.49 points or 0.21 per cent to settle at 78,094.64, while the broader NSE Nifty50 index climbed 66.45 points or 0.27 per cent to end the session at 24,383.60.
Pradip Halder, Founder and CEO of PHD Capital, in an interaction with Business Today TV (BTTV) on Friday, maintained a bullish view on the domestic equity market.
He sees 24,000 as a strong support level for benchmark Nifty50 and believes the index could move towards 24,650-24,700 in the near term.
Halder said the broader market structure remains positive and advised investors to stay focused on fundamentally strong stocks.
Sharing his views on Gujarat Mineral Development Corporation Ltd (GMDC), Halder said the stock continues to offer upside potential at current levels.
"One can consider buying GMDC at the current levels. Investors already holding the stock should continue to maintain their positions," he said.
According to Halder, GMDC has the potential to rally towards Rs 850-900 over the near term.
On IDFC First Bank Ltd shares, the market expert recommended that existing investors continue holding the stock while maintaining a stop loss at Rs 76.
He noted that the private lender's counter is facing immediate resistance in the Rs 93-94 zone. A decisive breakout above this range, Halder said, could pave the way for further gains.
"Only a decisive upmove beyond Rs 93-94 can trigger the next leg of the rally towards Rs 110-120," he said.
GMDC gained 0.61 per cent to settle at Rs 563.15, while IDFC slipped 0.04 per cent to close at Rs 84.70.
Meanwhile, domestic equity indices extended their gains for the third straight session on Friday, supported by strong buying in automobile, financials, pharma, energy and media stocks.
The 30-share BSE Sensex pack advanced 166.49 points or 0.21 per cent to settle at 78,094.64, while the broader NSE Nifty50 index climbed 66.45 points or 0.27 per cent to end the session at 24,383.60.