12.10.22-Wednesday, 8.34 am

Good Morning Members

What has happened yesterday? Nifty Index, contrary to our expectation, opened on a flat to positive note at 17256.05, on opening move, the Index made a high 17261.80; thereafter, it moved down, made a day low 16950.30 and closed at 16983.55, on a negative note with an intra loss -257.45 points, i.e., -1.49%.

What will happen today?  

Nifty Index: Today, the Nifty Index may open on a flat note near 16985-16950-16925 levels; if open, trade and sustain above 16985 then, the index may test 17015-17070-17090-17120-17140-17170-17195-17225-17260-17290 levels. On the other hand, the immediate support lies at 16925-16905 if, the Index moves below 16905 then, it may try to re-visit 16860-16820-16790-16750 levels.

Special Mention: Yesterday, the Nifty Index continued the down move and made a low near our threshold support levels i.e., 16940 and closed well below 17065 levels, today the Index must move and sustain above 17065-17140-17185 then, it may re-test 17290-17445-17640 levels in the near term. On the other hand, if the Index unable to move above 17065-17140-17185 and moves below 16940-16860 then, it may try to re-visit 16750-16640 levels in the near term. Let see how the Index opens today at 16985-16950-16925 levels, this week the intra volatility may be in a high note due to-day's IIP data, tomorrow's option weekly expiry and Inflation data, trade with due caution is my advise, aviod aggressive short positions.

Nifty Bank Index: Nifty Bank Index yesterday, opened at 39058.85, on the opening move, it made a day high 39174.95; thereafter, it moved down, made a day low 38622.25 and closed on a negative note at 38712.45 with an intra loss -380.65 points, i.e., -0.97%, today the Nifty Bank Index must move above 38820-39040 levels; if to do so, then it may try to re-test 39175-39290-39375-39480-39610 levels. On the other hand, any weakness near 38820-39040 further, it moves below 38625-38520 then, the Index may re-visit 38495-38380-38285-37965-37910 levels.

Trading Strategy: The members/followers/readers, those wo invested in Nifty50 stocks try to book profit when the Nifty touches 17290-17430 or for the profit of 6-10% and wait for the further correction to re-invest once again.

For further details please do call us on 98410 48022 or contact thro' WhatsApp: 99624 70636. Please read carefully, the Disclaimer published in the Disclaimer page.

Wishing you for a safe, secured and profitable trading.