25.10.22-Tuesday, 08.34 am 

Good Morning Members... 

What has happened yesterday? Nifty Index, as expected and written, opened on a positive note at 17736.35, on opening move, the Index made a high 17777.85; thereafter, it moved down, made a day low 17707.40 and closed at 17730.75, on a positive note with an intra gain 154.45 points, i.e., 0.88%.

What will happen today?  

Nifty Index: Today, the Nifty Index may open on a flat to positive note near 17730-17755-17775 levels; if open, trade and sustain above 17775 then, the index may test 17810-17840-17860-17895-17920 levels. On the other hand, the immediate support lies at 17700-17670 if, the Index moves below 17670 then, it may try to re-visit 17640-17610-17585-17555-17520-17480-17450-17420-17365-17315 levels.

Special Mention: Yesterday, the Nifty Index continued the pull back rally beyond our threshold resistance levels i.e., 17700, made a high 17777.85 and closed well above 17700 levels, today the Index must move and sustain above 17780-17810 then, it may re-test 17860-17920-17980 levels in the near term. On the other hand, if the Index unable to move above 17780-17810 and moves below 17670-17600 then, it may try to re-visit 17420-17315-17100 levels in the near term. Let see how the Index opens today at 17705-17755-17810 levels, today the intra volatility may be high, due to tomorrow's trading holiday and Thursday's weekly option expiry, trade with due caution and aviod aggressive long/short positions, is my advise at this juncture.

The IIP data for Aug'22 released on 12th Oct, the data shows the Industrial prodcution turned to a negative at -0.80% when compared to the last month reading i.e., 2.20%, after a year; it moves into negative zone and the Annual Inflation for Sep'22 moved up from 7% to 7.40%. The WPI Inflation data for the month Sep'22 released on 14th Oct-Friday, it came down from 12.41% (Aug'22)  to 10.70%

The India Inc. Q2 (Jul-Sep'22) earnings started to announce, so far out of 4248 companies, 372 announced their Q2 earnings, the net profit seen a positive growth about 14.20%, when compared with a last quarter. The Net profit for Q2 stood at Rs.98344.80 Cr. as against the Q1 net profit of Rs.97770 Cr. 

Nifty Bank Index: Nifty Bank Index yesterday, opened at 41348.35, on the opening move, it made a day low 41201.15; thereafter, it moved up, made a day high 41427.45 and closed on a positive note at 41304.90 with an intra gain 520.85 points, i.e., 1.28%, today the Nifty Bank Index must move above 41425-41490 levels; if to do so, then it may try to re-test 41540-41660-41840-42000 levels. On the other hand, any weakness near 41425-41490 further, it moves below 41305-41200 then, the Index may re-visit 41130-41030-40885-40710-40645-40535-40340 levels.

Trading Strategy: The members/followers/readers, those who invested near 16950 levels, try to book full profit near 17770--17840-17920-17990 levels or the stocks given 9-15 return and wait for further pirce correction to re-invest once again.

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Wishing you for a safe, secured and profitable trading.