Nifty extended its losing streak to a record eighth consecutive week, moving closer to a crucial long-term support zone around 22,000–22,600. While the index remains under pressure, oversold conditions and support from long-term moving averages and trend lines have raised the possibility of a technical rebound.

ROHAN SHAH, SENIOR TECHNICAL ANALYST, ASIT C. MEHTA INVESTMENT INTERMEDIATESNifty Strategy: Nifty has moved closer to the crucial 22,000–22,200 support zone, which coincides with its 200-week EMA and the lower boundary of the multi-year consolidation range.

Oversold momentum and breadth readings, coupled with historically favourable October seasonality, increase the probability of a recovery. Traders can buy Nifty Futures for an upside target of 23,000–23,300, with a stop loss below 22,000.

ET BureauTOP STOCKS FOR THE WEEKIndian Hotel: Buy | CMP: Rs 718 | Target: Rs 800 | Stop loss: Rs 678The stock is consolidating above its 50-week EMA, with supportive volumes indicating potential for further upside. Torrent Pharma: Sell | CMP: Rs 4,767 | Target: Rs 4,250 | Stop loss: Rs 5,050RSI remains in a declining trend and faces resistance around its moving average, while a downside range shift indicates weakening momentum and scope for profit-booking.

Read more: Blockbuster Accenture show holds out hope for battered Indian ITAJIT MISHRA, SVP-RESEARCH, RELIGARE BROKINGNifty Strategy: Nifty tested key long-term moving-average support zone of 200-week SMA and 200-week EMA around 22,400–22,600, after nearly six years. Traders can adopt a hedged approach, targeting 22,800 initially and then 23,100–23,200.

A decisive break below the April low could negate the rebound and drag the index towards 21,700–22,000. Read more: Largecaps bear brunt of selloff as 84% of Nifty50 stocks slip below 200-DMAsTOP STOCKS FOR THE WEEK Mankind Pharma: Buy | CMP: Rs 2,535 | Target: Rs 2,680 | Stop loss: Rs 2,410 The stock rebounded from Rs 2,250–2,300 support, reclaimed short-and medium-term averages, and a decisive move above Rs 2,600 would strengthen the trend, driving the stock towards Rs 2,700.

3 | Target: Rs 119 | Stop loss: Rs 137The stock remains under pressure, showing distribution after its fall from Rs 180; repeated failures at the Rs 140–145 zone and consolidation signal supply, with weakness below Rs 130 exposing Rs 124–119. PABITRO MUKHERJEE, DEPUTY VICE PRESIDENT, TECHNICAL, BAJAJ BROKINGNifty Strategy: Nifty tested the rising trendline joining major lows of the last two years and 200-week EMA.