10.11.22-Thursday, 08.34 am 

Good Morning Members... 

What has happened yesterday? Nifty Index, as expected and written, opened on a positive note at 18288.25, our expected opening band 18305-18350, on opening move, the Index made a high 18296.40; thereafter, it moved down, made a day high 18117.50 and closed at 18157, on a negative note with an intra loss -45.80 points, i.e., -0.25%.

What will happen today?  

Nifty Index: Today, the Nifty Index may open on a negatove note near 18130-18105 levels; if open, trade and sustain above 18130 then, the index may test 18160-18210-18245-18270-18295-18320-18350 levels. On the other hand, the immediate support lies at 18065-18040 if, the Index moves below 18040 then, it may try to re-visit 18000-17960-17935-17900-17860 levels.

Special Mention: Yesterday, the Nifty Index though it continued the Northward journey, made a high till 18296.40, but unable to sustain above 18250 and closed well below 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 18130-18065 then, it may try to re-visit 17960-17810-17640 levels in the near term. Let see how the Index opens today at 18130-18105 levels, the intra volatility may be in a high note, due to today's weekly option 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, 1187 announced their Q2 earnings, the net profit seen a positive growth about 17.10%, when compared with a last quarter. The Net profit for Q2 stood at Rs.175,418.20 Cr. as against the Q1 net profit of Rs.149,828.40 Cr. 

Nifty Bank Index: Nifty Bank Index yesterday, opened at 41914.65, on the opening move, it made a day high 41948.90; thereafter, it moved down, made a day low 41667.90 and closed on a positive note at 41783.20 with an intra gain 96.50 points, i.e., 0.23%, today the Nifty Bank Index must move above 41948-42025-42095 levels; if to do so, then it may try to re-test 42205-42370-42500 levels. On the other hand, any weakness near 41948-42025-42095 further, it moves below 41670-41610-41590 then, the Index may re-visit 41475-41385-41275-41090-41050 levels.

Trading Strategy: The members/followers/readers, those who invested near 16950 levels, try to book full profit near 18295-18350 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.