07.11.22-Monday, 08.34 am 

Good Morning Members... 

What has happened on Friday? Nifty Index, as expected and written, opened on a positive note at 18053.40, our expected opening band 18070-18110-18145, on opening move, the Index made a low 18017.15; thereafter, it moved up, made a day high 18135.10 and closed at 18117.15, on a positive note with an intra gain 64.45 points, i.e., 0.36%.

What will happen today?  

Nifty Index: Today, the Nifty Index may open on a positive note near 18180-18215-18240 evels; if open, trade and sustain above 18215-18240 then, the index may test 18285-18320-18350-18385-18425 levels. On the other hand, the immediate support lies at 18135-18050 if, the Index moves below 18050 then, it may try to re-visit 18020-17985-17960 levels.

Special Mention: On Friday, the Nifty Index bounced back and continued the Northward journey, made a high till 18135 and closed well above 18105 levels; today, the Index must move and sustain above 18240-18285 then, it may re-test 18350-18500 levels in the near term. On the other hand, if the Index unable to move above 18240-18285 and moves below 18085-17960 then, it may try to re-visit 17810-17640 levels in the near term. Let see how the Index opens today at 18180-18215-18240 levels, today the intra volatility may be in a high note, due to tomorrow's trading holiday, 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, 743 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.139,758.80 Cr. as against the Q1 net profit of Rs.128,665.70 Cr. 

Nifty Bank Index: Nifty Bank Index yesterday, opened at 41314.85, on the opening move, it made a day high 41516.20; thereafter, it moved down, made a day low  41051.15 and closed on a negative note at 41258.45 with an intra loss -39.90 points, i.e., -0.10%, today the Nifty Bank Index must move above 41380-41520 levels; if to do so, then it may try to re-test 41580-41675-41840-41975-42115 levels. On the other hand, any weakness near 41380-41520 further, it moves below 41310-41160 then, the Index may re-visit 41050-40980-40925-40820-40640-40590 levels.

Trading Strategy: The members/followers/readers, those who invested near 16950 levels, try to book full profit near 18240-18350 levels or the stocks given 12-15-20% 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.