New Delhi, Oct. 26 -- Nifty, which is about 2% short of its all-time peak, could hit a record high by year-end and sustain the gains, but analysts predict the journey to the ascent will be choppy: Heavy selling pressure is expected in the 25900-26300 zone.

The positive undertone amid the choppiness comes on the back of a host of positive measures. The Reserve Bank of India cut the repo rate by 100 basis points to 5.5% between February and May. The goods and services tax rates were rationalized into two slabs of 5% and 18% on 22 September, bringing down the tax on a host of items. Analysts expect the earnings to pick up in the second half of the fiscal and India and the US to strike the bilateral trade deal next month.

The Nifty 50 hit a...