Agencies Synopsis Indian stock indices, Sensex and Nifty, have extended their losing streak for a fifth week.
Analysts suggest the indices have entered oversold territory, indicating a potential short-term rebound.
Traders are advised to consider specific strategies like a Bull Put Spread for the September 29, 2026 expiry.
Several top stocks, including Kotak Mahindra Bank and BHEL, are recommended for buying with defined targets.
By ET Bureau Last Updated: Sep 14, 2026, 07:57:00 AM IST Follow us The Sensex and Nifty extended their losing streak to a fifth week, the longest in 14 months, with Nifty sliding nearly 2% and slipping below key moving averages.
Analysts said the indices have entered oversold territory, leaving scope for a short-term rebound.ADVERTISEMENT TANMAY SHAH, RESEARCH HEAD, SIHL Trading Strategy: Given the current oversold condition and the possibility of Nifty holding above the 22,950 support zone, traders can consider a Bull Put Spread for the September 29, 2026 expiry, by selling the 23,200 Put and buying the 22,950 Put.
The strategy offers a favourable risk-reward profile while allowing traders to benefit from time decay if Nifty remains sideways or sustains above 23,200.
The structure is suited to a cautiously bullish-to-neutral view for the month.
TOP STOCKS THIS WEEK Kotak Mahindra Bank: Buy | CMP: Rs 419 | Target: Rs 432–439 | Stop loss: Rs 408 The stock broke out above Rs 410, then retraced to retest the breakout zone.
A break below 23,000 could drag the index to 22,800– 22,500.
On the upside, 23,600–23,650 is the key hurdle, with recovery signals only above 23,650.
Nifty longs are advised only above 23,650, with a stop-loss at 23,450 and targets of 23,950– 24,100, anticipating short-covering.ADVERTISEMENT TOP STOCKS THIS WEEK BHEL:Buy | CMP: Rs 431 | Target: Rs 447–455 | Stop loss: Rs 420ADVERTISEMENT The stock maintains a strong price structure, trading above key moving averages across timeframes.
Buying support on dips and relative strength against the broader market keep the setup positive.PNB Housing Finance:Buy | CMP: Rs 1,178 | Target: Rs 1,240–1,276 | Stop loss: Rs 1,130The stock broke out above Rs 1,130 in early August.
Subsequent dips towards Rs 1,130 attracted strong buying with rising volumes.
Historically, this setup occurred 34 times, with 25 instances leading to double-digit average gains over the next 3–6 months.
The index is also below its 200-day EMA, while the weekly Stochastic at around 17 is deep in oversold territory, signalling downside exhaustion.Any decline towards 23,100–23,200 in Nifty Spot should be used as a buying opportunity for a target of 23,500.
Immediate support is placed at 22,850.TOP STOCKS THIS WEEK Adani Ports:Buy | CMP: Rs 1,765 | Target: Rs 1,876 | Stop loss: Rs 1,679Buying demand has returned after the stock retested the 12-month rising channel breakout at the 200-day EMA, with the weekly RSI showing a bullish crossover that confirms the positive bias; recommended in the Rs 1,710–1,765 rangeBHEL:Buy | CMP: Rs 430.60 | Target: Rs 470 | Stop loss: Rs 402After a 14-week consolidation above the 50-day EMA, the stock is shaping into a bullish pennant, with a breakout likely to accelerate momentum; recommended for buying in the Rs 420–430 range.
