Trends are completely confused and the constant gyrations on either side of the trends have left everyone wondering where the markets are headed. The redeeming fact as we enter the last day of this expiry is that the overall sentiment is ruptured and would take some time.
On 21 October 2026, Indian equities slipped for the second consecutive session, with benchmarks unable to sustain early gains. The Nifty closed at 22,811.35, down 77.60 points or 0.34%, while the Sensex settled at 73,709.69, losing 143.21 points or 0.19%.
CASTROLIND: Buy above ₹198, stop ₹188 target ₹211 (Multiday)
COCHINSHIP: Sell below ₹1175, stop ₹1225 target ₹1075 (Multiday)
Despite initial strength in IT stocks, selling pressure in autos, metals, and financials dragged the indices lower. Market breadth was weak, with declines far outnumbering advances, and more than 360 stocks hitting fresh 52-week lows. Volatility also picked up, as India VIX rose nearly 7% to 15.79, reflecting rising investor anxiety.