How to navigate markets as trend remains bearish, volatility spikes sharply

The market trend has become more bearish. Breadth continues to be poor with advancing stocks far outnumbered by declining stocks. Volumes have been high on sessions with net losses and in stocks that have dropped. Volatility has spiked sharply. The major indices are all trading well below their respective 200-day moving averages (200-DMA). 

Domestic institutional investors continued to be buyers. But FPIs (foreign portfolio investors) have sold heavily through October, dumping over Rs 210 billion of equity and over Rs 148 billion of debt. Bond market yields are elevated. The rupee continues to look weak. Retail investors have been direct equity