The Dow finished with its best October performance ever on Monday. The US Fed, which begins its two-day meeting on Tuesday, is expected to deliver a fourth straight 75-basis-point rate hike on Wednesday in its attempt to tame inflation. Investors will also focus on the communication of the outlook.

Asian shares rose and bond yields firmed in early trade on Tuesday despite mild losses from Wall Street overnight.

Nifty crossed the 18,000 level with an upgap. It could now face resistance at the 18,115-18,228 band while 17,811 could offer support.

Indian markets could open higher, in line with higher Asian markets today and despite negative US markets on Monday.

The intraday trend of Nifty is positive. Index would continue the positive momentum towards 18,000 or higher levels. The level of 18,000 is a psychological resistance. Intraday support is placed at 17,935. Key resistances are placed around 18,000 – 18,050 levels.

Nifty rose for the second consecutive session on Oct 28th after a see-saw session. At close, Nifty was up 0.28% or 49.9 points at 17,786.8.

We have a data heavy week ahead. The US Fed’s policy committee meets on Tuesday and Wednesday and is widely projected to lift its target rate by three-quarters of a percentage point for a fourth-straight time, to 3.75%-4%. The week closes with the US October jobs report. We also have the PMI numbers from India, Core Infra growth numbers from India and RBI MPC policy meet outcome on Nov 03rd.

Nifty moved above the high-low range of the previous three sessions on Friday and closed at the highest in more than 5 weeks. Sectoral rotation is keeping the Nifty afloat in volatile times. Global cues remain positive, but Nifty is participating in a restricted manner on the upside. On a weekly basis, Nifty gained 1.20%, building on the gains of the previous week. Nifty could now head towards 17,838-17,919 band in the near term while 17,568-17,637 band could offer support.

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After showing a positive opening, Nifty extended the rise above previous day’s and also the recent intraday swing high. From the highs, index shifted into minor correction and wiped out more than 90% of the day’s gain. The intraday trend of Nifty is mildly negative. Index is consolidating with range bound action and it may continue for rest of the day in the range between 17,840 to 17,720 levels.

The RBI has announced an additional meeting of the Monetary Policy Committee on Nov. 3rd. The meeting would be convened under Section 45ZN of the RBI Act, which spells out the course of action by the central bank if it fails to meet the inflation target, according to an RBI statement.

Nifty rose in the closing minutes of trade on Oct 27 which was a monthly F&O expiry day. At close, Nifty was up 0.46% or 80.6 points at 17,736.9.

Nifty bounced up after a one-day decline. Nifty could now face resistance in the 17,812-17,839 band while 17,637-17,655 band could provide support.

After showing a positive sign in the opening, Nifty witnessed gradual selloff from high of the day. Index may recover in the second off on the back of derivative expiry. Intraday support is placed at 17,650. Next upside levels to be watched around 17,750 levels.

Global equities advanced on Thursday as Chinese shares extended a rebound and US stock futures overcame earnings worries from tech giants.

Nifty fell on Oct 25, breaking a 7-day winning streak, weighed down by mixed global cues. At close Nifty was down 0.42% or 74.4 points at 17,656.40.

Nifty fell on the 8th day of the upmove filling the upgap made on the previous session. Post the gains made in markets abroad, Nifty could continue its uptrend towards 17,837-17,919.

On the Muhurat trading day (Oct 24), benchmark indices ended on a strong note with the Nifty finishing above 17,700 (up 0.88% at 17,730.8). Nifty logged its best Muhurat trading session since 2008, aided by broad based gains across sectors led by industrials, financial services, information technology, banking, capital goods stocks.

Nifty rose with an upgap on Monday but ended with a doji, suggesting indecision at higher levels. A minor reversal seems to be on cards. Nifty could trade in the 17,670-17,816 band for the near term.

Weekly audio podcast summarising the happenings of the past week and forecasting the market direction in the coming week.