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Listen to this article in summarized format MEHUL KOTHARI, DEPUTY VICE PRESIDENT — TECHNICAL RESEARCH, ANAND RATHI Nifty Strategy: After seven consecutive weekly declines, Nifty is trading near the crucial 23,000–23,100 support zone. The daily chart continues to show positive divergence, suggesting the downside may be approaching its final phase. Traders can consider going long in Nifty October Futures along with buying the 23,000 Put as a hedge, with an overall stop loss at 22,600 on a spot closing basis. Bank Nifty Strategy: Bank Nifty is approaching an important support area around 55,000– 55,500, with 55,000 coinciding with the 61.8% retracement of the previous upmove. Traders can consider buying October Futures along with the 55,000 Put as a hedge. A sustained move above 56,000 would be the first indication of improving strength, while 55,000 remains the key support. Read more: IPO rush continues: 20 issues to raise over Rs 1,257 crore this week TOP BETS FOR THE WEEK DEEPAK FERTILISERS: Buy | CMP: Rs 1,366 | Target: Rs 1,530 | Stop loss: Rs 1,260 The stock is consolidating near Rs 1,340–1,370 support, testing the Ichimoku cloud; RSI turning higher, with a move above 50 likely to confirm recovery and strengthen momentum. EID PARRY: Buy | CMP: Rs 705 | Target: Rs 780 | Stop loss: Rs 660 After a sharp correction, the stock is trading near the Rs 680–700 demand zone, highly oversold with weekly RSI showing positive divergence; prior support at Rs 640 and Friday’s traction suggest weakening downside momentum. Read more: Equities must remain in retirement portfolio despite market swings: Hsu NAGARAJ SHETTI, AVP, TECHNICAL RESEARCH, HDFC SECURITIES Nifty Strategy: With charts still negative, a breakdown below 23,000 could drag the index to 22,600, while rebounds face hurdles at 23,300– 23,400. Traders may sell October Futures below 23,150 for a target of 22,700 by the October 27 expiry, with a stop loss at 23,400. Alternatively, Nifty October Futures can be sold on a rise towards 23,500 for a target of 22,900, with a stop loss at 23,800. TOP BETS FOR THE WEEK CASTROL: Buy | CMP: Rs 201.50 | Target: Rs 218 | Stop loss: Rs 194 The stock has been in a sustainable upmove, forming higher tops and bottoms over the past few weeks. INDUSINDBK: Sell | CMP: Rs 912 | Target: Rs 855 | Stop loss: Rs 940 | Timeframe: 2–3 weeks The stock slid below the crucial 200-day EMA support at Rs 935 and closed lower. Volume expanded during the breakdown, while daily RSI turned negative, reinforcing weakness. SACCHITANAND UTTEKAR, VP – RESEARCH (TECHNICAL & DERIVATIVES), TRADEBULLS SECURITIES Nifty Strategy: The recovery following Thursday’s sharp sell-off could represent a window for a potential revival. The strategy is to buy one lot of the Nifty 23,000 Call up to Rs 115, with a stop loss at Rs 62 and a target of Rs 345. Traders should avoid aggressive directional exposure and favour stock-specific opportunities with disciplined risk management, according to the strategy. TOP BETS FOR THE WEEK ZYDUS LIFESCIENCES: Buy | CMP: Rs 1,207 | Target: Rs 1,280 | Stop loss: Rs 1,180 The latest close above the 1,200 Call OI cluster indicates a potential upward shift, while ADX approaching 25 points to strengthening directional momentum. PAYTM: Sell | CMP: Rs 1,690 | Target: Rs 1,600 | Stop loss: Rs 1,755 The stock has seen a negative divergence on daily RSI, followed by a breakdown below the Rs 1,800 support level and a bearish crossover of the 5- and 9-day EMAs, signalling exhaustion. (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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