25.11.22-Friday, 08.34 am 

Good Morning all... 

What has happened yesterday? Nifty Index, as expected and written, opened on a positive note at 18326.10, our expected opening band 18315-18325-18345 on opening move, the Index made a low 18294.25; thereafter, it moved down, made a day high 18529.70 and closed at 18484..10, on a positive note with an intra gain 216.85 points, i.e., 1.19%.

What will happen today?

Nifty Index: Today, the Nifty Index may open on a flat to positive note near 18485-18530-18560 levels; if open, trade and sustain above 18560 then, the index may test 18595-18615-18640-18660 levels. On the other hand, the immediate support lies at 18460-18445-18415 if, the Index moves below 18415 then, it may try to re-visit 18390-18345-18330-18295-18265-18225 levels.

Special Mention: Yesterday, the Nifty Index continued the pull back rally and moved till 18529 and closed above our threshold resistance levels i.e., 18345; today, the Index must break 18506-18530 levels, if it is moves and sustain above 18530 then, it may re-test 18550-18640-18660 levels in the near term. On the other hand, if the Index moves below 18445-18345 then, it may try to re-visit 18260-18135-18075 levels in the near term. Let see how the Index opens today at 18485-18530-18560 levels, the intra volatility may be in a high note, due to today's week-end factor and weak global cues, trade with due caution and aviod aggressive 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 production 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 on 14th Nov, 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 on 14th Nov 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 4115 announced their Q2 earnings, the net profit seen a positive growth about 14.30%, when compared with a last quarter. The Net profit for Q2 stood at Rs.243,072.10 Cr. as against the Q1 net profit of Rs.212,659.50 Cr. 

Nifty Bank Index: Nifty Bank Index yesterday, opened at 42838.35, on the opening move, it made a day low 42769.65; thereafter, it moved up, made a day high 43163.40 and closed on a positive note at 43075.40 with an intra gain 346.30 points, i.e., 0.64%, today the Nifty Bank Index must move above 43160-43230 levels; if to do so, then it may try to test 43270-43300-43395-43510 levels. On the other hand, any weakness near 43160-43230 further, it moves below 42900-42770 then, the Index may re-visit 42660-42620-42590-42430-42365-42315 levels.

Trading Strategy: The members/followers/readers, those who invested near 16950 levels, try to book full profit near 18500-18550-18640 levels or the stocks given 15-20-24% 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.