*Pre-Market Expiry View 10 November 2022* *(Spot Levels)*
● *Weaker than expected corporate earnings, crypto turmoil and poor treasury auction led to US equity market Indices correcting yesterday with DOW JONES, S&P500 and NASDAQ losing 1.95%, 2.08% & 2.48% respectively*.
*US Dollar Index* has stabilized at 110 levels along with Brent crude now down to $92.5 from $98 levels which is positive from a Equity Markets perspective.
● For the Expiry day, expect Index to open on a negative note around 18070 & Going forward expect Nifty Index to take support at 17960-17980 & Till this zone holds, Rebound towards 18190-18230 zone could be expected.
● Breach of Support at 17960 zone will lead to a retest of 17850-17880 area.
● *On the Derivative Data Front,* on higher side Call Addition was witnessed in 18200 & 18300 strikes and put addition witnessed at 18000-18100 PE strikes which implies markets can take support at 17960-17980 followed by 17880 and can face resistance at *18230-18280* zone.
● *Expiry Trading Range : 17980 to 18250*
● On Wednesday, *Bank Nifty* was successful in holding above its breakout level of 41550-41600 which came after a larger consolidation,*although it failed to cross phychological mark of 42000*
● *Now support for Banknifty at 41150-41250 zones and as long as these support levels holds, Banknifty could once again make an attempt to test previous life high zones ie 41900-41950 and than could make an upmove towards uncharted territory ie a new all time high could be witnessed in banking index closer to 42300*
● *A breach below 41150,* Bank Nifty can retest support levels of 40750-40500.
● Expected Range for Bank Nifty 41050 to 41900#NIFTY50 #NIFTYBANK #MacroEconomy