09.11.22-Wednesday, 08.34 am 

Good Morning Members... 

What has happened on Monday? Nifty Index, as expected and written, opened on a positive note at 18211.75, our expected opening band 18180-18215-18240, on opening move, the Index made a low 18064.75; thereafter, it moved up, made a day high 18255.50 and closed at 18202.80, on a positive note with an intra gain 85.65 points, i.e., 0.47%.

What will happen today?  

Nifty Index: Today, the Nifty Index may open on a positive note near 18305-18350 levels; if open, trade and sustain above 18350 then, the index may test 18375-18395-18425-18460 levels. On the other hand, the immediate support lies at 18255-18200 if, the Index moves below 18200 then, it may try to re-visit 18160-18130-18105-18065-18025-17995-17960 levels.

Special Mention: On Monday, the Nifty Index continued the Northward journey, made a high till 18255 and closed well above our threshold resistance levels i.e., 18178; today, the Index must move and sustain above 18255-18305-18350 then, it may re-test 18425-18500-18640 levels in the near term. On the other hand, if the Index unable to move above 18255-18305-18350 and moves below 18175-18000 then, it may try to re-visit 17810-17640 levels in the near term. Let see how the Index opens today at 18305-18350 levels, the intra volatility may be in a high note, due to tomorrow's weekly option expiry, 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, 1001 announced their Q2 earnings, the net profit seen a positive growth about 18.20%, when compared with a last quarter. The Net profit for Q2 stood at Rs.171,447.10 Cr. as against the Q1 net profit of Rs.145,100.40 Cr. 

Nifty Bank Index: Nifty Bank Index on Monday, opened at 41740.65, on the opening move, it made a day low 41337.05; thereafter, it moved up, made a day high 41779.40 and closed on a positive note at 41686.70 with an intra gain 428.25 points, i.e., 1.04%, today the Nifty Bank Index must move above 41805-41845 levels; if to do so, then it may try to re-test 41975-42115-42205 levels. On the other hand, any weakness near 41805-41845 further, it moves below 41780-41685 then, the Index may re-visit 41530-41440-41335-41215 levels.

Trading Strategy: The members/followers/readers, those who invested near 16950 levels, try to book full profit near 18255-18350 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.