* Pre-Market Expiry View 13 October 2022:*
● *Focus* will now be on the US CPI data which is scheduled to be announced today.
Dollar Index at levels of 113.30 with US 10 year Bond Yield trading higher at 3.92% is a cause of concern for markets.
● Index on Wednesday, post a marginal gap up opening took support at 16950-17000 zone and seen decent upmove towards 17100-17125 area.
● *For the day, Following the Global Cues,* expect Index to open on a mild negative note around 17050 & Till the time Index sustains above 16970-17020, expect the Index to trade with positive bias upto 17140-17170
*Resistance* will now be witnessed at 17180 and crossing that will open up gates for 17255-17280 zone.
16970-17000 zone will now act as an important support, below that further downside upto 16835-16865 can be witnessed.
● *On the Derivative Data Front,* significant Call Addition was witnessed at 17200-17300 strike & Put writing in 16900-17000 strikes implies *16900 to 17250 to be a broader Trading Range*
● Going Forward, *Bank Nifty* will get support at 38800-38900 and till this zone holds expect the index to rebound upto 39350-39450.
● *Resistance Zone* lies at 39450, a crossover above that, banknifty Index can witness short-covering upto levels of 39800-40050.
● *Breach below Supports* at 38800 could lead the Index to retest support zone at 38500-38400.
● Expected Range for Bank Nifty 38550 to 39440. #NIFTYBANK #NIFTY50 #MacroEconomy