15.11.22-Tuesday, 08.34 am 

Good Morning Members... 

What has happened yesterday? Nifty Index, as expected and written, opened on a positive note at 18376.40, our expected opening band 18360-18390, on opening move, the Index made a high 18399.45; thereafter, it moved down, made a day low 18311.40 and closed at 18329.15, on a negative note with an intra loss -20.55 points, i.e., -0.11%.

What will happen today?  

Nifty Index: Today, the Nifty Index may open on a positive note near 18365-18395-18420 levels; if open, trade and sustain above 18420 then, the index may test 18440-18460-18485-18510-18535 levels. On the other hand, the immediate support lies at 18335-18310 if, the Index moves below 18310 then, it may try to re-visit 18285-18270-18230-18205-18180-18160-18125-18085-18055 levels.

Special Mention: Yesterday, the Nifty Index continued the Northward journey, beyond our threshold resistance levels i.e., 18350, made a high 18399.45 and closed below threshold resistance levels i.e., 18350; today, the Index must break 18395-18430 levels, if it is moves and sustain above 18430 then, it may re-test 18510-18640 levels in the near term. On the other hand, if the Index unable to move above 18395-18430 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 18365-18395-18420 levels, the intra volatility may be in a high note, due to global cues, trade with due caution and aviod aggressive short/long position, is my advise at this juncture.

The IIP data for Sep'22 released on 11th Nov-Friday, the data shows that, the Industrial prodcution turned to a positive zone at 3.10% when compared to the last month reading i.e., -0.80%. The Annual Inflation data for Oct'22 releasd yesterday, the data shows that the Inflation has come down to 6.77% from the Sep'22 level i.e., 7.41% and WPI Inflation data also came yesterday for the month of Oct'22, it stood at 8.39% Vs.10.70% (Sep'22).

The India Inc. Q2 (Jul-Sep'22) earnings started to announce, so far out of 4248 companies, 2496 announced their Q2 earnings, the net profit seen a positive growth about 16.80%, when compared with a last quarter. The Net profit for Q2 stood at Rs.224,143.50 Cr. as against the Q1 net profit of Rs.191,895.20 Cr. 

Nifty Bank Index: Nifty Bank Index yesterday, opened at 42177.55, on the opening move, it made a day low 41965.45; thereafter, it moved up, made a day high 42231.45 and closed on a negative note at 42076.75 with an intra loss  -60.30 points, i.e., -0.14%, today the Nifty Bank Index must move above 42230-42345 levels; if to do so, then it may try to re-test 42570-42745-42850-43050 levels. On the other hand, any weakness near 42230-42345 further, it moves below 42150-42050 then, the Index may re-visit 41955-41890-41655-41480-41320 levels.

Trading Strategy: The members/followers/readers, those who invested near 16950 levels, try to book full profit near 18400-18500-18640 levels or the stocks given 12-15-20% return and wait for further pirce correction to re-invest once again.

For further details please do call us on 98410 48022 or contact thro' WhatsApp: 99624 70636. Please read carefully, the Disclaimer published in the Disclaimer page.-

Wishing you for a safe, secured and profitable trading.