Stocks to buy: What's the outlook for Nifty for October 19-October 23 week? Top stock recommendations

Stock market recommendations: Indian Hotels Company, and Bharti Airtel - these are top stocks to buy that have been recommended by Sudeep Shah, Head - Technical Research and Derivatives, SBI Securities for the October 19, 2026 week. He has also shared his views on Nifty and Bank Nifty:Stock recommendations:Indian Hotels CompanyINDHOTEL has been consolidating in a 757-701 range for nearly 4 months. The stock gave a breakout from this range on 16th October supported by a healthy rise in volumes over the last two days. The DI lines have widened with DI+ placed significantly above DI- in the ADX indicator, indicating strong control of bulls over the bears.The RSI has also given a downward sloping trendline breakout on the daily timeframe, indicating renewed bullish momentum. Additionally, the MACD line has moved above the zero line, further reinforcing bullish bias. Hence, we recommend to accumulate the stock in the zone of 768-774 with a stoploss of 740. On the upside, it is likely to test the level of 825 in the short term.Bharti AirtelBHARTIARTL has given a double bottom neckline breakout on the daily timeframe. The breakout is supported by a healthy rise in volumes over the last two trading sessions. The stock took strong support around the 1740-1720 zone, a zone which has seen strong buying interest multiple times since April 2026 this year.The stock trades above key moving averages on both the daily and weekly timeframe, indicating a significant improvement in the near-term price action structure. The RSI has witnessed a sharp bounce from the level of 38 to 52 on the weekly timeframe, indicating renewed bullish momentum.Hence, we recommend to accumulate the stock in the zone of 1890-1910 with a stoploss of 1830. On the upside, it is likely to test the level of 2045 in the short term.Nifty ViewNifty had witnessed a sharp correction since the start of the Aug series (24774-22179) on the back of a sharp surge in US Bond yield prices. Bond yields had spiked from 4.7% levels towards the mark of 5.36% levels, Indian equity markets had witnessed a sharp outflow of funds. Nifty has witnessed a correction for eight consecutive weeks before witnessing a pause in the selling pressure in the previous week.This week marked the reversal in the markets with US bond yields cooling off from its multi-year highs of 5.36 to 5.09% and crude prices too witnessing a temporary pause. Nifty witnessed a sharp pullback led by a rally in frontline counters especially from the IT space which was the best performing sector in the current week closing 11.72% higher.Technically Nifty formed a large bullish candlestick on the weekly timeframe post the formation of a doji candle in the previous week witnessing a reversal from its crucial support zone. The slight cause of discomfort is the pullback in the markets have not been broad based and has been restricted to a few select large cap counters.The focus once again shifts towards the result season with HDFC Bank, ICICI Bank and Axis set to announce their results over the weekend. These heavyweights hold a weightage of 22.8% in Nifty and 42.85% in Bank Nifty.The upcoming support and resistance levels will play a decisive role in determining the index’s next move. The 22750–22800 zone will serve as a crucial support. As long as 22750 hold we expect the up move to continue in the markets. On the upside, the 23400–23450 zone remains a key resistance band a surge above which can take the index towards 23650 (100EMA).Bank Nifty ViewThe banking benchmark index Bank Nifty has continued its pullback rally for the second consecutive week. It has formed a bullish candle with long lower shadow on a daily scale. Currently, the index is trading above its 20-day EMA level and it has started edging higher. The daily RSI is quoting near 52 level and it is in rising mode.The focus once again shifts towards the result season with HDFC Bank, ICICI Bank and Axis Bank set to announce its results over the weekend. These heavyweights hold a weightage of 22.8% in Nifty and 42.85% in Bank Nifty.Going ahead, the 50-day EMA zone of 56000-56100 will act as an important hurdle for the index. Any sustainable move above 56100 will lead to sharp upside rally up to the 56600, followed by 57300 in the short term. On the downside, the zone of 55300-55200 will act as important support for the index.(Disclaimer: Recommendations and views on the stock market, or any other asset classes or personal finance management tips given by experts and analysts are their own. These opinions do not represent the views of The Times of India.)You use AI every day. Now get your AI Quotient. Take the AIQ test.