23.11.22-Wednesday, 08.34 am 

Good Morning Members... 

What has happened yesterday? Nifty Index, as expected and written, opened on a flat to positive note at 18179.15, our expected opening band 18175-18205-18225 on opening move, the Index made a low 18137.70; thereafter, it moved up, made a day high 18261.85 and closed at 18244.20, on a positive note with an intra gain 84.25 points, i.e., 0.46%.

What will happen today?

Nifty Index: Today, the Nifty Index may open on a positive note near 18295-18325 levels; if open, trade and sustain above 18325 then, the index may test 18350-18375-18410-18440-18485-18525 levels. On the other hand, the immediate support lies at 18260-18225 if, the Index moves below 18225 then, it may try to re-visit 18200-18170-18150-18130-18100-18075 levels.

Special Mention: Yesterday, the Nifty Index witnessed a pull back rally and moved till 18261 and closed above our threshold resistance levels i.e., 18210; today, the Index must break 18295-18350 levels, if it is moves and sustain above 18350 then, it may re-test 18440-18550-18640 levels in the near term. On the other hand, if the Index moves below 18225-18135 then, it may try to re-visit 18075-17960 levels in the near term. Let see how the Index opens today at 18295-18325 levels, the intra volatility may be in a high note, due to tomorrow's F&O expiry and weak global cues, trade with due caution and aviod aggressive short/long position, is my advise at this juncture.

INDIA's Macro Data:

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).

India Inc. Earnings:

The India Inc. Q2 (Jul-Sep'22) earnings started to announce, so far out of 4248 companies, 3913 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.242,270.30 Cr. as against the Q1 net profit of Rs.212,307.90 Cr. 

Nifty Bank Index: Nifty Bank Index yesterday, opened at 42467.40, on the opening move, it made a day low 42347.15; thereafter, it moved up, made a day high 42508.75 and closed on a positive note at 42457.05 with an intra gain 110.50 points, i.e., 0.26%, today the Nifty Bank Index must move above 42550-42620 levels; if to do so, then it may try to test 42690-42735-42835-42880-42960 levels. On the other hand, any weakness near 42550-42620 further, it moves below 42350-42300 then, the Index may re-visit 42240-42180-42125-42045-41970-41845-41775-41625 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.

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.