04.11.22-Friday, 08.34 am 

Good Morning Members... 

What has happened yesterday? Nifty Index, as expected and written, opened on a negative note at 17968.35, our expected opening band 18020-17970, on opening move, the Index made a low 17959.20; thereafter, it moved up, made a day high 18106.30 and closed at 18052.70, on a negative note with an intra loss -30.15 points, i.e., -0.17%.

What will happen today?  

Nifty Index: Today, the Nifty Index may open on a positive note near 18070-18110-18145 evels; if open, trade and sustain above 18110-18145 then, the index may test 18175-18205-18240-18255-18285 levels. On the other hand, the immediate support lies at 18050-18010 if, the Index moves below 18000 then, it may try to re-visit 17960-17920-17870-17845-17820-17805-17775 levels.

Special Mention: Yesterday, the Nifty Index witnessed the sell-off till 17959, but it was recovered on the opening move and closed well above 18050 levels; today, the Index must move and sustain above 18115-18175 then, it may re-test 18285-18350 levels in the near term. On the other hand, if the Index unable to move above 18115-18175 and moves below 18010-17960 then, it may try to re-visit 17810-17640 levels in the near term. Let see how the Index opens today at 18070-18115-18145 levels, the intra volatility may be in a high note, due to 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, 686 announced their Q2 earnings, the net profit seen a positive growth about 8.60%, when compared with a last quarter. The Net profit for Q2 stood at Rs.143,839.10 Cr. as against the Q1 net profit of Rs.132,489.40 Cr. 

Nifty Bank Index: Nifty Bank Index yesterday, opened at 40873.70, on the opening move, it made a day low 40819.15; thereafter, it moved up, made a day high 41478 and closed on a positive note at 41298.35 with an intra gain 151.70 points, i.e., 0.37%, today the Nifty Bank Index must move above 41435-41570 levels; if to do so, then it may try to re-test 41675-41840-41975-42115 levels. On the other hand, any weakness near 41435-41570 further, it moves below 41250-40975 then, the Index may re-visit 40820-40765-40640-40590-40435-40280-40195 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.