28.11.22-Monday, 08.34 am 

Good Morning all... 

What has happened on Friday? Nifty Index, as expected and written, opened on a positive note at 18528.45, our expected opening band 18485-18530-18560 on opening move, the Index made a low 18445.10; thereafter, it moved  up, made a day high 18534.90 and closed at 18512.75, on a positive note with an intra gain 28.65 points, i.e., 0.15%.

What will happen today?

Nifty Index: Today, the Nifty Index may open on a flat to negative note near 18510-18470-18445 levels; if open, trade and sustain above 18510 then, the index may test 18535-18560-18595-18640-18660 levels. On the other hand, the immediate support lies at 18445-18420 if, the Index moves below 18420 then, it may try to re-visit 18380-18355-18335-18295-18265-18230 levels.

Special Mention: On Friday, the Nifty Index continued the pull back rally and moved till 18534.90 and closed above our threshold support levels i.e., 18445; today, the Index must break 18535-18560 levels, if it is moves and sustain above 18560 then, it may re-test 18600-18640-18660 levels in the near term. On the other hand, if the Index moves below 18445-18395 then, it may try to re-visit 18260-18135-18075 levels in the near term. Let see how the Index opens today at 18510-18470-18445 levels, the intra volatility may be in a high note, due to the Nifty Index trading near all time high levels with very low volume 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 4135 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.243,072.50 Cr. as against the Q1 net profit of Rs.212,659.70 Cr. 

Nifty Bank Index: Nifty Bank Index on Friday, opened at 43192.45, on the opening move, it made a day high 42339.15; thereafter, it moved down, made a day low 42864.95 and closed on a negative note at 42983.95 with an intra loss -91.45 points, i.e., -0.21%, today the Nifty Bank Index must move above 43050-43200 levels; if to do so, then it may try to test 43285-43340-43405-43470-43510 levels. On the other hand, any weakness near 43050-42300 further, it moves below 42865-42770-42735 then, the Index may re-visit 42660-42620-42590-42460-42385-42315-42205 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.