Triple Witching is an event that occurs when the contracts for stock index futures, stock index options and stock options all expire on the same day. The markets are quite volatile in this final hour, as traders quickly offset their option/futures orders before the closing bell. Every Stock market has its own Triple Witching Day. For India, it is the last Thursday of the month for Derivatives Expiry.
Black Swan
Black Swan is an event or occurrence that deviates beyond what is normally expected of a situation and is extremely difficult to predict. The event is a surprise, has a major impact and is rationalized by hindsight, as if it had been expected.
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