INDIAN STOCK MARKET OUTLOOK | THURSDAY, 22 OCTOBER 2026

INDIAN STOCK MARKET OUTLOOK | THURSDAY, 22 OCTOBER 2026 Market Sentiment: Cautious to Bearish | Volatility Expected Indian equity markets are likely to open on a weak note amid rising crude oil prices, geopolitical tensions in the Middle East and mixed global cues. Brent crude above $110 per barrel is raising concerns about inflation, corporate profitability and potential interest rate hikes. Reuters +1 Previous Session Highlights Nifty 50 closed at 22,811, down 78 points, while Sensex declined 143 points to 73,710. Bank Nifty slipped to 54,977. IT stocks showed relative strength despite broader market weakness. Institutional flows remained supportive, with FIIs buying ₹1,022 crore and DIIs purchasing ₹1,614 crore on Wednesday. 21 October 2026 – Wealth North +1 Key Technical Levels – Nifty 50 - Support: 22,800 / 22,700 / 22,650 - Resistance: 22,900 / 23,000 / 23,120 A sustained move above 22,900 could trigger short covering toward 23,000. However, a breakdown below 22,700 may invite further selling pressure. Bank Nifty: Support at 54,800–54,500; resistance at 55,000–55,500. Univest Stocks in Focus Today - BEL: Fresh orders worth approximately ₹1,011 crore could attract buying interest. - Eternal: Better-than-expected revenue performance may support sentiment. - M&M Financial: Strong quarterly results put the stock in focus. - Infosys & HCL Tech: Watch for continuation of recent IT-sector strength. - Oil Marketing Companies: Elevated crude prices remain a key margin concern. Reuters +1 Trading Strategy Avoid aggressive buying at opening levels. Watch the first 15–30 minutes for confirmation. Prefer stocks showing relative strength, strong volumes and breakout confirmation. Maintain strict stop-losses, as volatility could remain elevated during Sensex weekly expiry.