22.11.22-Tuesday, 08.34 am 

Good Morning Members... 

What has happened yesterday? Nifty Index, as expected and written, opened on a negative note at 18246.10, our expected opening band 18280-18245 on opening move, the Index made a high 18262.30; thereafter, it moved down, made a day low 18133.35 and closed at 18159.95, on a negative note with an intra loss -147.40 points, i.e., -0.81%.

What will happen today?  Nifty Index: Today, the Nifty Index may open on a flat to positive note near 18175-18205-18225 levels; if open, trade and sustain above 18225 then, the index may test 18260-18290-18325-18350-18375-18410-18440 levels. On the other hand, the immediate support lies at 18175-18135 if, the Index moves below 18135 then, it may try to re-visit 18100-18075-18045-18015-17985-17960-17945 levels.

Special Mention: Yesterday, the Nifty Index witnessed a brief sell-off till 18133 and closed below our threshold resistance levels i.e., 18210; today, the Index must break 18260-18345 levels, if it is moves and sustain above 18260-18345 then, it may re-test 18440-18550-18640 levels in the near term. On the other hand, if the Index moves below 18135-18100 then, it may try to re-visit 17960-17810 levels in the near term. Let see how the Index opens today at 18175-18205 levels, the intra volatility may be in a high note this week, due to F&O expiry and weak global cues, 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, 3849 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.242,260.30 Cr. as against the Q1 net profit of Rs.212,347.20 Cr. 

Nifty Bank Index: Nifty Bank Index yesterday, opened at 42286.95, on the opening move, it made a day low 42202.55; thereafter, it moved up, made a day high 42386.80 and closed on a negative note at 42346.55 with an intra loss -90.90 points, i.e., -0.21%, today the Nifty Bank Index must move above 42385-42435 levels; if to do so, then it may try to test 42590-42620-42500-42575-42620-42690-42735-42835-42880 levels. On the other hand, any weakness near 42385-42435 further, it moves below 42245-42200 then, the Index may re-visit 42125-42045-41970-41845-41775-41625 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.