Market direction remains completely unclear, with sharp two-way swings leaving investors uncertain about where equities are headed. As we enter the final day of the derivatives expiry, the silver lining is that market sentiment—though severely battered—will simply need time to recover.
Buy above ₹4,780, stop ₹4,550, target ₹5,280 (Multiday)
Sell below ₹1,675, stop ₹1,735, target ₹1,550 (Multiday)
On 22 October, Indian equities slipped as weak global cues kept sentiment subdued. The market opened lower and remained under pressure through most of the session, with the Nifty briefly falling below 22,600 intraday before recovering from its low of 22,554.85 to close at 22,687.65, down 123.70 points or 0.54 percent. The Sensex also ended in the red, losing 460.30 points or 0.62 percent to settle at 73,249.39. Selling was broad-based across sectors, reflecting investor caution amid lingering concerns over global growth and elevated bond yields.
Despite the late recovery, the overall tone remained defensive, with traders preferring to stay light on positions. Technically, the Nifty’s ability to reclaim levels above 22,650 offered some short-term relief, but resistance remains firm near 22,750–22,800, while immediate support lies around 22,550. The session highlighted the ongoing tug-of-war between bargain buying and persistent global headwinds, keeping volatility elevated.