Market Expert Raja Venkatraman Shares Stock Picks as Equities Face Volatile Week

Market trends remain highly uncertain, with sharp swings on both sides leaving traders confused about the true direction of Indian equities. Indian stocks faced a volatile and corrective week from October 19 to October 23, 2026, driven by persistent selling pressure, weak market breadth, and high volatility. The week started with a sharp decline on October 19, when the Nifty fell 1.11 percent to 22,888.95 and the Sensex dropped 876 points to close at 73,852.90. Selling hit nearly all sectors, with FMCG, IT, and private banks leading the drop, while PSU banks stood out as the only major outperformers.

Trade Strategy

Market expert and NeoTrader co-founder Raja Venkatraman has shared specific trade picks and levels for investors. For Cyient, he advises buying above 1,235 rupees with a stop loss at 1,175 rupees and a target of 1,360 rupees. For Eternal, the recommendation is to buy above 320 rupees with a stop loss at 302 rupees and a target of 350 rupees. For Mankind, he suggests selling below 2,205 rupees with a stop loss at 2,295 rupees and a target of 2,050 rupees. These trades are planned on a multiday outlook. Meanwhile, broader markets stayed weak with midcap and smallcap indices falling around one percent, and over 150 stocks hitting fresh 52-week lows.

Derivatives and Support

Following the Dussehra holiday, markets stayed under pressure despite some strength in technology stocks. On October 21, the Nifty slipped further to 22,811.35 while the Sensex ended at 73,709.69. Strong earnings helped IT firms like Infosys, TCS, HCL Technologies, and Tech Mahindra outperform, but declines in autos, metals, private banks, realty, and consumer stocks wiped out those gains. Options data showed heavy Call open interest at the 23,000 and 23,200 strikes, creating a strong resistance zone, while Put open interest near 22,500 and 22,700 provided immediate support. Technical charts showed Nifty staying below key short-term moving averages with immediate support clustered in the 22,600 to 22,700 region.

Context

Stock market analysts regularly share technical views and trade strategies based on chart patterns, price action, and derivatives data to help investors navigate volatile trading conditions. Market regulators require analysts to disclose their registration details to ensure transparency and remind investors that securities investments carry inherent market risks.