11.11.22-Friday, 08.34 am 

Good Morning Members... 

What has happened yesterday? Nifty Index, as expected and written, opened on a negative note at 18044.35, our expected opening band 18130-18105, on opening move, the Index made a high 18103.10; thereafter, it moved down, made a day low 17969.40 and closed at 18157, on a negative note with an intra loss -128.80 points, i.e., -0.71%.

What will happen today?  

Nifty Index: Today, the Nifty Index may open on a positive note with gap up by tracking Asian Indices near 18295-18350 levels; if open, trade and sustain above 18350 then, the index may test 18375-18405-18430-18460-18485-18510-18535 levels. On the other hand, the immediate support lies at 18255-18205 if, the Index moves below 18205 then, it may try to re-visit 18155-18105-18040-18000-17970 levels.

Special Mention: Yesterday, the Nifty Index unable to continue the Northward journey, the brief sell-off dragged the Index till 17969.40 and closed well below our threshold resistance levels i.e., 18178; today, it looks the Index move beyond 18350 levels, if it is moves and sustain above 18350 then, it may re-test 18460-18510-18640 levels in the near term. On the other hand, if the Index unable to move above 18350-18460 and moves below 18295-18175 then, it may try to re-visit 17960-17810 levels in the near term. Let see how the Index opens today at 18295-18350 levels, the intra volatility may be in a high note, due to today's week-end factor, trade with due caution and aviod aggressive short/long position, is my advise at this juncture.

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, 1329 announced their Q2 earnings, the net profit seen a positive growth about 15.20%, when compared with a last quarter. The Net profit for Q2 stood at Rs.177,595.70 Cr. as against the Q1 net profit of Rs.154,112.10 Cr. 

Nifty Bank Index: Nifty Bank Index yesterday, opened at 41462.85, on the opening move, it made a day high 41643.40; thereafter, it moved down, made a day low 41318.60 and closed on a negative note at 41603.75 with an intra loss 179.45 points, i.e., -0.43%, today the Nifty Bank Index must move above 41910-42100 levels; if to do so, then it may try to re-test 42155-42205-42370-42500 levels. On the other hand, any weakness near 41910-42100 further, it moves below 41840-41640 then, the Index may re-visit 41550-41400-41320-41230 levels.

Trading Strategy: The members/followers/readers, those who invested near 16950 levels, try to book full profit near 18350-18500-18640 levels or the stocks given 12-15-20% 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.