Nifty In Profit-Booking Zone As Key Events Loom, Says Prashanth Tapse Of Mehta Equities

Markets are set for a volatile and consolidative session as Nifty faces supply pressure near 26,300 ahead of Tuesday’s weekly F&O expiry. Analysts highlight weakness in power, hotels, and industrials, while auto and IT continue to show strength driven by robust sales and follow-through buying. Prashanth Tapse of Mehta Equities says recent macro data like IIP and manufacturing numbers have not supported bullish sentiment, and the surprise GDP upside is already priced in after Nifty’s all-time high. With key events ahead—including the RBI policy and President Putin’s India visit—markets may remain in profit-booking mode, with 26,000 acting as a crucial psychological level.