29.11.22-Tuesday, 08.34 am 

Good Morning all... 

What has happened yesterday? Nifty Index, as expected and written, opened on a negative note at 18430.55, our expected opening band 18510-18470-18485-18445 on opening move, the Index made a low 18365.50; thereafter, it moved  up, made a day high 18614.25 and closed at 18562.75, on a positive note with an intra gain 50 points, i.e., 0.27%.

What will happen today?

Nifty Index: Today, the Nifty Index may open on a flat to positive note near 18560-18585-18615 levels; if open, trade and sustain above 18615 then, the index may test 18640-18660-18685-18720-18750 levels. On the other hand, the immediate support lies at 18530-18490 if, the Index moves below 18490 then, it may try to re-visit 18445-18425-18395-18365-18295-18260-18230 levels.

Special Mention: Yestereday, the Nifty Index continued the pull back rally and moved till 18614.25 and closed above our threshold support levels i.e., 18445; today, the Index must break 18614-18640 levels, if it is moves and sustain above 18640 then, it may re-test 18680-18750 levels in the near term. On the other hand, if the Index moves below 18510-18475-18445 then, it may try to re-visit 18260-18135-18075 levels in the near term. Let see how the Index opens today at 18560-18585-18615 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, India's GDP for the quarter till Sep'22 (expected on 30th Nov) 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 4136 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.243,071.30 Cr. as against the Q1 net profit of Rs.212,658.60 Cr. 

Nifty Bank Index: Nifty Bank Index yesterday, opened at 42757.20, on the opening move, it made a day low 42740; thereafter, it moved up, made a day high 43159.80 and closed on a positive note at 43020.45 with an intra gain 36.50 points, i.e., 0.08%, today the Nifty Bank Index must move above 43160-43270 levels; if to do so, then it may try to test 43340-43405-43470-43510 levels. On the other hand, any weakness near 43160-43270 further, it moves below 42960-42835 then, the Index may re-visit 42740-42625-42590-42460-42385-42315-42205 levels.

Trading Strategy: The members/followers/readers, those who invested near 16950 levels, try to book full profit near 18600--18640-18750 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.