16.11.22-Wednesday, 08.34 am 

Good Morning Members... 

What has happened yesterday? Nifty Index, as expected and written, opened on a positive note at 18362.75, our expected opening band 18365-18395-18420, on opening move, the Index made a low 18282; thereafter, it moved up, made a day high 18427.95 and closed at 18403.40, on a positive note with an intra gain 74.25  points, i.e., 0.41%.

What will happen today?  

Nifty Index: Today, the Nifty Index may open on a flat to positive note near 18400-18425-18445 levels; if open, trade and sustain above 18445 then, the index may test 18465-18485-18510-18535-18580-18640 levels. On the other hand, the immediate support lies at 18385-18360 if, the Index moves below 18360 then, it may try to re-visit 18335-18310-13280-18245-18230-18205-18180-18160-18125-18085-18055 levels.

Special Mention: Yesterday, the Nifty Index continued the Northward journey, beyond our threshold resistance levels i.e., 18399, made a high 18427.95 and closed well above 18350; today, the Index must break 18430-18465 levels, if it is moves and sustain above 18430-18465 then, it may re-test 18550-18640 levels in the near term. On the other hand, if the Index unable to move above 18430-18465 and moves below 18280-18175 then, it may try to re-visit 17960-17810 levels in the near term. Let see how the Index opens today at 18400-18425-18445 levels, the intra volatility may be in a high note, due to weekly option expiry and 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, 3024 announced their Q2 earnings, the net profit seen a positive growth about 14.60%, when compared with a last quarter. The Net profit for Q2 stood at Rs.240,143 Cr. as against the Q1 net profit of Rs.209,489.40 Cr. 

Nifty Bank Index: Nifty Bank Index yesterday, opened at 42234.85, on the opening move, it made a day low 42079.55; thereafter, it moved up, made a day high 42450.05 and closed on a positive note at 42372.70 with an intra gain 295.95 points, i.e., 0.70%, today the Nifty Bank Index must move above 42450-42550 levels; if to do so, then it may try to re-test 42590-42635-42745-42850-43050 levels. On the other hand, any weakness near 42450-42550 further, it moves below 42345-42140 then, the Index may re-visit 42080-41955-41885-41775-41645-41480-41320 levels.

Trading Strategy: The members/followers/readers, those who invested near 16950 levels, try to book full profit near 18440-18500-18640 levels or the stocks given 12-15-20% return and wait for further pirce correction to re-invest once again.

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Wishing you for a safe, secured and profitable trading.