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Listen to this article in summarized format CHANDAN TAPARIA, HEAD – DERIVATIVES & TECHNICALS, WEALTH MANAGEMENT, MOTILAL OSWAL FINANCIAL SERVICES Nifty has formed a higher-top, higher-bottom structure, reclaimed its 20-day average and sustained above 23,000. A Morning Star pattern, rising RSI and support at 22,786 keep the outlook bullish, with 23,400–23,500 as the next upside zone. Nifty Strategy: For the October 27 monthly expiry, buy one lot of the 23,200-strike call and sell one lot of the 23,400-strike call. The bull call spread has a maximum risk of 70 points (Rs 4,550 per lot) and a maximum potential profit of 130 points (Rs 8,450 per lot). TOP STOCKS FOR THE WEEK Coforge: Buy | CMP: Rs 1,951 | Target: Rs 2,070 | Stop loss: Rs 1,890 The stock has formed a bullish pin bar, trades above short-term averages near its 52-week high, and a breakout above Rs 2,000 could trigger further gains Kotak Bank: Buy | CMP: Rs 447 | Target: Rs 475 | Stop loss: Rs 433 The stock remains in an uptrend near its all-time high, with higher highs and strong volumes, and a breakout above Rs 460 could trigger fresh gains. Read more: Can Nifty, Sensex rally further or will bears reign in? 5 factors to steer market this week HITESH RATHI, TECHNICAL ANALYST (EQUITY & DERIVATIVES), ANGEL ONE Bank Nifty is approaching the 56,000–56,100 band, which previously acted as support and is now expected to pose resistance. The zone also coincides with the 50-day exponential moving average and the 20-week and 50-week exponential moving averages, creating a confluence of resistance. Bank Nifty Strategy: Sell on rallies towards 56,100– 56,200, with a stop loss at 56,600 and targets at 55,500–55,400. TOP STOCKS FOR THE WEEK Indian Hotels: Buy | CMP: Rs 772 | Target: Rs 880–885 | Stop loss: Rs 704 A breakout above a major falling trendline and consolidation range signals a potential uptrend, with a multi-brick Renko breakout further reinforcing the bullish setup. Supreme Industries: Buy | CMP: Rs 3,602 | Target: Rs 3,870–3,880 | Stop loss: Rs 3,370. The Rs 3,200–3,290 band remains strong support, with buying interest reflected in a bullish anchor column. A bullish 100% pole and a turtle breakout on the 0.25% times 3 daily Point and Figure chart indicate improving short-term momentum. SOMIL MEHTA, HEAD OF RETAIL RESEARCH, MIRAE ASSET SHAREKHAN Nifty has rebounded from 22,180 and is testing its 40-day average, with support at 22,800–22,550 and resistance at 23,475– 23,600. Bank Nifty trades in a narrow range, but momentum is bullish; a move above 56,056 could target 56,550–56,925, while support lies at 55,400–55,500. Nifty Strategy: Buy on dips towards 22,800, with targets at 23,475–23,600. The quoted stop loss of 23,550 on a closing basis requires confirmation, as it is above the stated buying level. Bank Nifty Strategy: Buy at the current market price or on dips towards 55,400–55,500, with a stop loss at 55,000 on a closing basis and targets at 56,500–56,925. Read more: Mega Jio Platforms IPO to lead Rs 31,663 crore offerings this week; 9 listings lined up TOP STOCKS FOR THE WEEK Nykaa: Buy | CMP: Rs 344 | Target: Rs 363–375 | Stop loss: Rs 331.50 The stock has bounced from the lower end of its sideways range, and a move above Rs 346 could lift it towards Rs 363–375 if Rs 331.50 hold. Hindalco: Buy | CMP: Rs 910 | Target: Rs 955–975 | Stop loss: Rs 858 The decline from the May high seems to have completed an a-b-c pattern, with bullish signals pointing to a recovery towards Rs 955–975 if Rs 858 holds. (What's moving Sensex and Nifty Track latest market news, stock tips, Budget 2025, Share Market on Budget 2025 and expert advice, on ETMarkets. Also, ETMarkets.com is now on Telegram. For fastest news alerts on financial markets, investment strategies and stocks alerts, subscribe to our Telegram feeds .) Subscribe to ET Prime and read the Economic Times ePaper Online.and Sensex Today. Top Trending Stocks: SBI Share Price, Axis Bank Share Price, HDFC Bank Share Price, Infosys Share Price, Wipro Share Price, NTPC Share Price (What's moving Sensex and Nifty Track latest market news, stock tips, Budget 2025, Share Market on Budget 2025 and expert advice, on ETMarkets. Also, ETMarkets.com is now on Telegram. For fastest news alerts on financial markets, investment strategies and stocks alerts, subscribe to our Telegram feeds .) Subscribe to ET Prime and read the Economic Times ePaper Online.and Sensex Today. Top Trending Stocks: SBI Share Price, Axis Bank Share Price, HDFC Bank Share Price, Infosys Share Price, Wipro Share Price, NTPC Share Price
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