ROHAN SHAH, SENIOR TECHNICAL ANALYST, ASIT C. MEHTA INVESTMENT INTERMEDIATES
Nifty Technique: Nifty has moved nearer to the essential 22,000–22,200 help zone, which coincides with its 200-week EMA and the decrease boundary of the multi-year consolidation vary. Oversold momentum and breadth readings, coupled with traditionally beneficial October seasonality, improve the likelihood of a restoration. Merchants can purchase Nifty Futures for an upside goal of 23,000–23,300, with a cease loss beneath 22,000.
ET BureauTOP STOCKS FOR THE WEEK
Indian Lodge: Purchase | CMP: Rs 718 | Goal: Rs 800 | Cease loss: Rs 678
The inventory is consolidating above its 50-week EMA, with supportive volumes indicating potential for additional upside.
Torrent Pharma: Promote | CMP: Rs 4,767 | Goal: Rs 4,250 | Cease loss: Rs 5,050
RSI stays in a declining pattern and faces resistance round its shifting common, whereas a draw back vary shift signifies weakening momentum and scope for profit-booking.Learn extra: Blockbuster Accenture present holds out hope for battered Indian IT
AJIT MISHRA, SVP-RESEARCH, RELIGARE BROKING
Nifty Technique: Nifty examined key long-term moving-average help zone of 200-week SMA and 200-week EMA round 22,400–22,600, after almost six years.
Merchants can undertake a hedged strategy, focusing on 22,800 initially after which 23,100–23,200. A decisive break beneath the April low might negate the rebound and drag the index in the direction of 21,700–22,000.
Learn extra: Largecaps bear brunt of selloff as 84% of Nifty50 shares slip beneath 200-DMAs
TOP STOCKS FOR THE WEEK
Mankind Pharma: Purchase | CMP: Rs 2,535 | Goal: Rs 2,680 | Cease loss: Rs 2,410
The inventory rebounded from Rs 2,250–2,300 help, reclaimed short-and medium-term averages, and a decisive transfer above Rs 2,600 would strengthen the pattern, driving the inventory in the direction of Rs 2,700.
IOC: Promote | CMP: Rs 131.3 | Goal: Rs 119 | Cease loss: Rs 137
The inventory stays underneath stress, exhibiting distribution after its fall from Rs 180; repeated failures on the Rs 140–145 zone and consolidation sign provide, with weak spot beneath Rs 130 exposing Rs 124–119.
PABITRO MUKHERJEE, DEPUTY VICE PRESIDENT, TECHNICAL, BAJAJ BROKING
Nifty Technique: Nifty examined the rising trendline becoming a member of main lows of the final two years and 200-week EMA. The speedy bias stays down, and a follow-through weak spot beneath the April low of twenty-two,182 might prolong the decline in the direction of the CY25 low of 21,750.
Nonetheless, oscillators on the weekly and each day charts have reached extraordinarily oversold territory after the sharp decline. Holding above the April 2026 low, which additionally coincides with key long-term help, might set off a pullback in the direction of 22,800 and 23,000.
Merchants can purchase Nifty October Futures at present ranges and on dips in the direction of 22,400 for targets of twenty-two,800 and 23,000, with a cease loss at 22,200.
TOP STOCKS FOR THE WEEK
HDFC Financial institution: Purchase | CMP: Rs 721.2 | Goal: Rs 775 | Cease loss: Rs 690
Gives a recent alternative, with Rs 775 being the confluence of falling trendline resistance and the 61.8% retracement of the earlier decline from Rs 843 to Rs 682.
Cummins India: Purchase | CMP: Rs 4,860 | Goal: Rs 5,230 | Cease loss: Rs 4,670
Anticipated to renew its upmove in the direction of Rs 5,230, the 38.2% retracement of the decline from Rs 6,100 to Rs 4,741.
