17.11.22-Thursday, 08.34 am 

Good Morning Members... 

What has happened yesterday? Nifty Index, as expected and written, opened on a positive note at 18398.25, our expected opening band 18400-18425 on opening move, the Index made a high 18442.15; thereafter, it moved down, made a day low 18344.15 and closed at 18409.95, on a positive note with an intra gain 6.25  points, i.e., 0.03%.

What will happen today?  

Nifty Index: Today, the Nifty Index may open on a negative note near 18365-18345 levels; if open, trade and sustain above 18365 then, the index may test 18410-18425-18440-18470-18490-18535-18580 levels. On the other hand, the immediate support lies at 18345-18320 if, the Index moves below 18320 then, it may try to re-visit 18280-18255-18230-18205-18180-18160-18125-18105 levels.

Special Mention: Yesterday, the Nifty Index continued the Northward journey, beyond our threshold resistance levels i.e., 18399, once again it made a high 18442.15 and closed just above 18399; today, the Index must break 18440-18465 levels, if it is moves and sustain above 18440-18465 then, it may re-test 18550-18640 levels in the near term. On the other hand, if the Index unable to move above 18440-18465 and moves below 18345-18320-18280 then, it may try to re-visit 18175-17960 levels in the near term. Let see how the Index opens today at 18365-18345 levels, the intra volatility may be in a high note, due to today's weekly option expiry and tomorrow week-end factor, trade with due caution and aviod aggressive 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, 3658 announced their Q2 earnings, the net profit seen a positive growth about 14.70%, when compared with a last quarter. The Net profit for Q2 stood at Rs.242,094.60 Cr. as against the Q1 net profit of Rs.211,160.80 Cr. 

Nifty Bank Index: Nifty Bank Index yesterday, opened at 42371.80, on the opening move, it made a day low 42296.30; thereafter, it moved up, made a day high 42611.75 and closed on a positive note at 42535.30 with an intra gain 162.60 points, i.e., 0.38%, today the Nifty Bank Index must move above 42610-42695 levels; if to do so, then it may try to test 42770-42850-42960-43050 levels. On the other hand, any weakness near 42610-42695 further, it moves below 42395-42295 then, the Index may re-visit 42205-42115-42045-41965-41840-41775-41645 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.