Nifty Outlook for 22 October 2026

After making a lower high at 23120.90, NIFTY 50 started its decline and went to make a fresh lower low, breaking 22845. A fresh downtrend has been established after the index corrected from 22179.90 to 23175.25. The index is now trading below all the major EMAs on the daily timeframe. At the same time, a fresh resistance zone has been created around 22850. Any bounce towards the resistance zone should be used as a selling opportunity, considering the multiple factors of weakness.

As far as the positioning in the derivatives segment is concerned, an aggressive short buildup has been seen, and long positions were created with a cautious approach. 

Key Resistance: 22850 and 22960
Key Support: 22600 and 22480

Strategy: Sell Nifty (Spot level) on a rise around 22830 with a stop-loss of 22930, targeting 22680.

ADITYA THUKRAL, PROPRIETOR, AT RESEARCH AND RISK MANAGERS
SEBI Registered Research Analyst INH000013794

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