02.11.22-Wednesday, 08.34 am 

Good Morning Members... 

What has happened yesterday? Nifty Index, as expected and written, opened on a positive note at 18130.70, our expected opening band 18095-18115-18155, on opening move, the Index made a high 18175.80; thereafter, it moved down, made a day low 18060.15 and closed at 18145.40, on a positive note with an intra gain 133.20 points, i.e., 0.74%.

What will happen today?  

Nifty Index: Today, the Nifty Index may open on a flat to positive note near 18155-18175-18205 levels; if open, trade and sustain above 18205 then, the index may test 18215-18230-18265-18285-18315-18350 levels. On the other hand, the immediate support lies at 18095-18060 if, the Index moves below 18060 then, it may try to re-visit 18030-18010-17965-17935-17920-17900 levels.

Special Mention: Yesterday, the Nifty Index continued the northward journey beyond our threshold resistance levels i.e., 18090, made a high 18175.80 and closed well above 18090 levels, today the Index must move and sustain above 18155-18175-18215 then, it may re-test 18285-18350 levels in the near term. On the other hand, if the Index unable to move above 18155-18175-18215 and moves below 18095-18030 then, it may try to re-visit 17900-17670 levels in the near term. Let see how the Index opens today at 18155-18175-18205 levels, the intra volatility may be high note, due to tomorrow's RBI special MPC meet and Option weekly expiry, 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, 578 announced their Q2 earnings, the net profit seen a positive growth about 0.90%, when compared with a last quarter. The Net profit for Q2 stood at Rs.129,626.80 Cr. as against the Q1 net profit of Rs.128,437.60 Cr. 

Nifty Bank Index: Nifty Bank Index yesterday, opened at 41552.40, on the opening move, it made a day high 41677.25; thereafter, it moved down, made a day low 41188.55 and closed on a negative note at 41289.55 with an intra loss -18.35 points, i.e., -0.04%, today the Nifty Bank Index must move above 41375-41535 levels; if to do so, then it may try to re-test 41620-41675-41720-41810-41840-42000 levels. On the other hand, any weakness near 41375-41535 further, it moves below 41190-41055 then, the Index may re-visit 40940-40840-40700-40645-40405 levels.

Trading Strategy: The members/followers/readers, those who invested near 16950 levels, try to book full profit near 18150-18220-18350 levels or the stocks given 12-18% 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.