03.11.22-Thursday, 08.34 am 

Good Morning Members... 

What has happened yesterday? Nifty Index, as expected and written, opened on a flat to positive note at 18177.90, our expected opening band 18155-18175-18205, on opening move, the Index made a high 18178.70; thereafter, it moved down, made a day low 18048.65 and closed at 18082.85, on a negative note with an intra loss -62.55 points, i.e., -0.34%.

What will happen today?  

Nifty Index: Today, the Nifty Index may open on a negative note with gap down by tracking Asian Indices near 18020-17970 levels; if open, trade and sustain above 18020-18050 then, the index may test 18090-18140-18175-18195-18230-18255-18285 levels. On the other hand, the immediate support lies at 17970-17940-17915 if, the Index moves below 17915 then, it may try to re-visit 17899-17870-17845-17820-17805-17775 levels.

Special Mention: Yesterday, the Nifty Index unable to continue the northward journey beyond our threshold resistance levels i.e., 18175, though it made a high 18178.70, to able to cross this levels and closed below 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 18020-17915 then, it may try to re-visit 17810-17640 levels in the near term. Let see how the Index opens today at 18020-17970 levels, the intra volatility may be high note, due to today's RBI special MPC meet cum option weekly expiry and tomorrow's week-end factor, trade with due caution and aviod aggressive long position, is my advise at this juncture.

The US Federal reserve bank yesterday night, increased their interest rate by 75bps from 3.25% to 4% this hawkish move jitters the global stock market, they are trying to tightening the inflation by rising the interest vigorously from 0.25% to 4%.

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, 637 announced their Q2 earnings, the net profit seen a positive growth about 1%, when compared with a last quarter. The Net profit for Q2 stood at Rs.136,454.80 Cr. as against the Q1 net profit of Rs.135,132.30 Cr. 

Nifty Bank Index: Nifty Bank Index yesterday, opened at 41472.60, on the opening move, it made a day high 41474.30; thereafter, it moved down, made a day low 41060.45 and closed on a negative note at 41146.65 with an intra loss -142.90 points, i.e., -0.35%, today the Nifty Bank Index must move above 41150-41375 levels; if to do so, then it may try to re-test 41475-41620-41675-41720-41810-41850 levels. On the other hand, any weakness near 41150-41375 further, it moves below 40950-40840 then, the Index may re-visit 40765-40645-40590-40435-40280-40195 levels.

Trading Strategy: The members/followers/readers, those who invested near 16950 levels, try to book full profit near 18150-18220 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.