28.10.22-Friday, 08.34 am 

Good Morning Members... 

What has happened yesterday? Nifty Index, as expected and written, opened on a positive note at 17771.40, our expected opening band 17810-17855, on opening move, the Index made a high 17783.90; thereafter, it moved down, made a day low 17654.50 and closed at 17736.95, on a positive note with an intra gain 90.60 points, i.e., 0.51%.

What will happen today?  

Nifty Index: Today, the Nifty Index may open on a positive note near 17775-17820-17850 levels; if open, trade and sustain above 17850 then, the index may test 17875-17895-17920-17940-17980-18015 levels. On the other hand, the immediate support lies at 17775-17740 if, the Index moves below 17740 then, it may try to re-visit 17720-17680-17655-17620-17585-17555-17520-17480-17450-17420 levels.

Special Mention: Yesterday, the Nifty Index unable to continue the pull back rally beyond our threshold resistance levels i.e., 17810, made a high 17783.90 and closed well above 17710 levels, today the Index must move and sustain above 17820-17850 then, it may re-test 17920-17980-18090 levels in the near term. On the other hand, if the Index unable to move above 17820-17850 and moves below 17655-17605 then, it may try to re-visit 17420-17315-17100 levels in the near term. Let see how the Index opens today at 17775-17820-17855 levels, today the intra volatility may be high, due to week-end factor, trade with due caution and aviod aggressive long position, 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, 419 announced their Q2 earnings, the net profit seen a positive growth about 0.50%, when compared with a last quarter. The Net profit for Q2 stood at Rs.106,443.30 Cr. as against the Q1 net profit of Rs.105,950.70 Cr. 

Nifty Bank Index: Nifty Bank Index yesterday, opened at 41440.70, on the opening move, it made a day high 41511.80; thereafter, it moved down, made a day low 411178.65 and closed on a positive note at 41299.30 with an intra gain 176.55 points, i.e., 0.43%, today the Nifty Bank Index must move above 41415-41530 levels; if to do so, then it may try to re-test 41690-41840-42000 levels. On the other hand, any weakness near 41415-41530 further, it moves below 41365-41180 then, the Index may re-visit 41090-41035-40890-40700-40530-40250 levels.

Trading Strategy: The members/followers/readers, those who invested near 16950 levels, try to book full profit near 17850-17940-18015 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.