A leading business magazine informed that the Sensex drifts higher as Brent crude hits lowest level in nearly 4 years.

Let us examine the veracity of this statement. Owing to the low crude oil the auto stocks should have driven the stocks up. Let us check it. Yesterday, while M&M was down Maruti and Tata motors were marginally up. Together they have not helped the indices to post gains. Whereas, banking stocks like Axis Bank, HDFC, ICICI and SBI helped the indices to catapult to higher level.  Even the smaller banking stocks closed at higher levels.  At the end of the day the indices went up by 0.31% while Bank Nifty has moved up by 1.32%.  This means the business magazine got it wrong and it is once again confusing the investors with half baked information.

On the other hand, last week we informed that the bank nifty would help the Nifty to move up.   In fact, during this time all the street analysts were bearish on the Indian market.  The market reacted favorably to our analysis.  We expect the trend to continue albeit with some bouts of correction.  I am sure some of you would have used the trend to your advantage.  Even in our yesterday’s newsletter we clearly informed that the trend is bullish and we expected the market to move up to higher levels. Always wealthbull readers would be laughing all the way to the bank.

The Indian stock exchanges will remain closed on October 15 on account of polling day in Maharashtra. It is going to be a big holiday session next week owing to Diwali. We do not want to disturb the holiday mood and hence advanced our monthly meet to 19^th October.  Let us meet on 19^th and chalk out a way to create wealth from the market in the current situation.