18.11.22-Friday, 08.34 am 

Good Morning Members... 

What has happened yesterday? Nifty Index, as expected and written, opened on a negative note at 18358.70, our expected opening band 18365-18345 on opening move, the Index made a high 18417.60; thereafter, it moved down, made a day low 18312.95 and closed at 18343.90, on a negative note with an intra loss -65.75 points, i.e., -0.36%.

What will happen today?  

Nifty Index: Today, the Nifty Index may open on a flat to negative note near 18345-18315 levels; if open, trade and sustain above 18345 then, the index may test 18385-18405-18420-18445-18470-18495-18535-18580 levels. On the other hand, the immediate support lies at 18310-18280 if, the Index moves below 18280 then, it may try to re-visit 18255-18230-18205-18180-18160-18125-18105-18075 levels.

Special Mention: Yesterday, the Nifty Index unable to continue the northward journey, beyond our threshold resistance levels i.e., 18445 and closed well below 18399; today, the Index must break 18400-18445 levels, if it is moves and sustain above 18400-18445 then, it may re-test 18550-18640 levels in the near term. On the other hand, if the Index moves below 18310-13280 then, it may try to re-visit 18175-17960 levels in the near term. Let see how the Index opens today at 18345-18315 levels, the intra volatility may be in a high note, due to today's 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, 3757 announced their Q2 earnings, the net profit seen a positive growth about 14.10%, when compared with a last quarter. The Net profit for Q2 stood at Rs.242,238.60 Cr. as against the Q1 net profit of Rs.212,388.40 Cr. 

Nifty Bank Index: Nifty Bank Index yesterday, opened at 42399.65, on the opening move, it made a day high 42622.75; thereafter, it moved down, made a day low 42366.55 and closed on a negative note at 42458.05 with an intra loss -77.25 points, i.e., -0.18%, today the Nifty Bank Index must move above 42545-42625 levels; if to do so, then it may try to test 42695-42770-42850-42960-43050 levels. On the other hand, any weakness near 42545-42625 further, it moves below 42425-42365 then, the Index may re-visit 42295-42240-42125-42045-41970-41845-41775-41645 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.