Aniket PujariIndian Stock Market: The Indian stock market extended its losses for a second straight session on Tuesday, December 9, with both benchmark indices sliding sharply. The Sensex fell over 700 points—nearly 1%—to an intraday low of 84,382.96, while the Nifty 50 dropped 1% to an intraday low of 25,728. Across two sessions, the Sensex has now crashed more than 1,300 points (about 1.5%), and the Nifty 50 has lost nearly 2%.
Yet despite the correction, market veteran Sushil Kedia, Founder and CEO of Kediaomics, believes long-term upside remains intact. He said that Sensex touching 1,00,000 by mid-2026 is certainly “possible,” though he prefers assessing the market through the Nifty for cleaner signals. According to him, the Nifty may undergo significant volatility before climbing to higher milestones.
In his conversation with YouTuber Kushal Lodha, Kedia explained, “It is always possible that before Nifty reaches 28,000, the index may return to 24,000 once more because that space is still open. But if 25,400 breaks, the forecast becomes a clearer fall to 24,000 and then a rise to 28,000.”
Nifty Forecast: A pullback likely before major rally
Kedia is respected for his bold yet accurate market forecasts—most notably predicting the 2008 crash from Nifty 6,200 down to nearly 2,500. He said those insights were shaped by chart patterns and his ability to step away from emotional or intellectual bias.
In 2008, he recalled, multiple global stress signals were already visible: the U.S. housing bubble, tightening liquidity and early reactions in the Nifty. But charts provided the crucial confirmation. Kedia argued that forecasting demands mastery over one’s own impulses. As he put it, “There is no enemy outside—your only enemy in markets is your own mind, and the moment you learn to suspend it, the market begins to speak clearly.”
He believes a correction in the current cycle has already started, though it remains uncertain whether it will be limited to 500–600 points or extend into a deeper 1,500-point decline. The magnitude of the fall will determine the short-term trajectory toward the eventual 28,000 target.
Stocks to Buy
When asked which stocks he finds attractive or risky, Kedia stressed that every stock has its own behaviour, and investors must align positions with the appropriate time horizon. He added that his approach emphasises rejecting weak ideas rather than hunting for seemingly perfect fundamentals.
Sugar Stocks: A Major Multibagger Theme
One of Kedia’s strongest calls is on global sugar prices, where he expects a threefold increase within three years. He believes Indian sugar stocks will react early.
As he explained, “Charts are telling us sugar prices will triple globally, and most local sugar stocks may become three-baggers almost six months before that move completes.”
This view comes from the end of a 15-year downtrend in sugar commodities, now replaced by an emerging uptrend.
PGHH: The ‘Never Sell’ Compounding Stock
Kedia called Procter & Gamble Hygiene & Health (PGHH) one of the most reliable long-term wealth creators in India.
He said, “PGHH is the kind of stock you should never sell because in India it has stayed in an uptrend for 20 years, and I believe it will continue its march for the next 20 years as well.”
Unlike high-beta cyclicals, PGHH typically corrects only around 30% even after doubling, making it ideal for compounding-focused investors.
Dredging Corporation of India: A Monopoly With Multibagger Potential
Kedia’s team has taken a large bet on Dredging Corporation of India, expecting it to triple in the next two years.
With government focus on maritime expansion and large infrastructure expenditure, he sees strong strategic tailwinds reinforcing the earlier technical signals.
Small Caps With Early Momentum
Four months ago, Kedia identified several bottomed-out small caps that could become three-to-four baggers. Although many of these are already up 50%, he believes long-term potential remains robust.
Metals: A Strong Bearish Call
On the bearish side, he anticipates a devastating correction in metals, warning that the sector’s recent strength is misleading and may fizzle abruptly.
Why Kedia trusts charts more than fundamentals
Kedia’s philosophy rests on the belief that fundamentals often appear only after price moves have already begun. Charts, in his view, offer earlier and clearer signals.
He warned against relying too heavily on backward-looking data, explaining, “Descriptive fundamentals only create the illusion that you are well informed, but our job is not to prove intelligence—it is to protect capital by rejecting weak ideas early.”
He emphasised that charts act as an anchor when the intellect becomes noisy, helping investors reconnect with market reality. His blend of Elliott Waves, behavioural discipline and non-conformist thinking defines his framework.
Kedia closed by saying, “If you can dilute your ego, suspend your intellect and let the market speak, everything you need to know will eventually reveal itself.”
In his view, successful investors outperform by knowing what to ignore, not by absorbing every piece of information.
Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint. We advise investors to check with certified experts before making any investment decisions.
