27.10.22-Thursday, 08.34 am 

Good Morning Members... 

What has happened on Tuesday? Nifty Index, as expected and written, opened on a positive note at 17808.30, our expected opening band 17755-17775, on opening move, the Index made a high 17811.50; thereafter, it moved down, made a day low 17637 and closed at 17656.35, on a negative note with an intra loss -84.40 points, i.e., -0.48%.

What will happen today?  

Nifty Index: Today, the Nifty Index may open on a positive note with gap up by tracking the Asian Indices near 17810-17855 levels; if open, trade and sustain above 17855 then, the index may test 17875-17895-17920-17940-17980-18015 levels. On the other hand, the immediate support lies at 17775-17705 if, the Index moves below 17705 then, it may try to re-visit 17670-17635-17610-17585-17555-17520-17480-17450-17420 levels.

Special Mention: On Tuesday, the Nifty Index continued the pull back rally till our threshold resistance levels i.e., 17810, made a high 17811.50 and closed well well below 17710 levels, today the Index must move and sustain above 17810-17855 then, it may re-test 17920-17980-18090 levels in the near term. On the other hand, if the Index unable to move above 17810-17855 and moves below 17670-17605 then, it may try to re-visit 17420-17315-17100 levels in the near term. Let see how the Index opens today at 17810-17855 levels, today the intra volatility may be high, due to weekly option expiry and tomorrow's week-end factor, 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, 400 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.101781.30 Cr. as against the Q1 net profit of Rs.101773 Cr. 

Nifty Bank Index: Nifty Bank Index on Tuesday, opened at 41513.65, on the opening move, it made a day high 41530.65; thereafter, it moved down, made a day low 41021.45 and closed on a negative note at 41122.75 with an intra loss -182.15 points, i.e., -0.44%, today the Nifty Bank Index must move above 41395-41530 levels; if to do so, then it may try to re-test 41670-41840-42000 levels. On the other hand, any weakness near 41395-41125 further, it moves below 41020-40880 then, the Index may re-visit 40700-40530-40340-40245-40040 levels.

Trading Strategy: The members/followers/readers, those who invested near 16950 levels, try to book full profit near 17840-17940-18015 levels or the stocks given 9-15 return and wait for further pirce 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.