01.11.22-Tuesday, 08.34 am 

Good Morning Members... 

What has happened yesterday? Nifty Index, as expected and written, opened on a positive note at 17910.20, our expected opening band 17840-17885-17920, on opening move, the Index made a low 17899.90; thereafter, it moved up, made a day high 18022.80 and closed at 18012.20, on a positive note with an intra gain 225.40 points, i.e., 1.27%.

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 18095-18115-18155 levels; if open, trade and sustain above 18155 then, the index may test 18185-18215-18230-18265 levels. On the other hand, the immediate support lies at 18055-18020 if, the Index moves below 18020 then, it may try to re-visit 17980-17955-17920-17900-17840 levels.

Special Mention: Yesterday, the Nifty Index continued the northward journey beyond our threshold resistance levels i.e., 17810, made a high 18022.80 and closed well above 17810 levels, today the Index must move and sustain above 18095-18115-18155 then, it may re-test 18240-18350 levels in the near term. On the other hand, if the Index unable to move above 18095-18115-18155 and moves below 18020-17920 then, it may try to re-visit 17670-17520-17430 levels in the near term. Let see how the Index opens today at 18095-18115-18155 levels, this week, the intra volatility may be high in the ensuing days due to RBI convening the special MPC meet on 03rd Nov-Thursday and Option weekly expiry also falls on the same day, trade with due caution and aviod aggressive short/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, 524 announced their Q2 earnings, the net profit seen a positive growth about 1.10%, when compared with a last quarter. The Net profit for Q2 stood at Rs.122,401.80 Cr. as against the Q1 net profit of Rs.119,341.40 Cr. 

Nifty Bank Index: Nifty Bank Index yesterday, opened at 41265.70, on the opening move, it made a day high 41353.70; thereafter, it moved down, made a day low 41106.10 and closed on a positive note at 41307.90 with an intra gain 317.05 points, i.e., 0.77%, today the Nifty Bank Index must move above 41420-41540-41675 levels; if to do so, then it may try to re-test 41840-42000-42260-42500 levels. On the other hand, any weakness near 41420-41540-41675 further, it moves below 41350-41210 then, the Index may re-visit 40840-40645-40485-40355 levels.

Trading Strategy: The members/followers/readers, those who invested near 16950 levels, try to book full profit near 18090-18150-18250 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.