30.11.22-Wednesday, 08.30 am 

Good Morning all... 

What has happened yesterday? Nifty Index, as expected and written, opened on a flat note at 18552.45, our expected opening band 18560-18585 on opening move, the Index made a low 18552.15; thereafter, it moved  up, made a day high 18678.10 and closed at 18618.05, on a positive note with an intra gain 55.30 points, i.e., 0.30%.

What will happen today?

Nifty Index: Today, the Nifty Index may open on a flat to positive note near 18615-18645 levels; if open, trade and sustain above 18645 then, the index may test 18680-18715-18750-18790 levels. On the other hand, the immediate support lies at 18600-18580 if, the Index moves below 18490 then, it may try to re-visit 18555-18515-18495-18445-18405-18365 levels.

Special Mention: Yesterday, the Nifty Index continued the northward rally beyond all time high i.e., 18640, further it made a new all time high 18678.10, but closed below our threshold levels i.e., 18640; today, the Index must break 18640-18680 levels, if it is moves and sustain above 18640-18680 then, it may test 18750-18790-18835 levels in the near term. On the other hand, if the Index moves below 18600-18550 then, it may try to re-visit 18440-18260-18135 levels in the near term. Let see how the Index opens today at 18615-18645 levels, the intra volatility may be in a high note, due to today's month-end factor, India's GDP for the Sep' 22 quarter (which is also expected today) 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 4137 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.243,069.80 Cr. as against the Q1 net profit of Rs.212,658.20 Cr. 

Nifty Bank Index: Nifty Bank Index yesterday, opened at 42959.40, on the opening move, it made a day low 42959.40; thereafter, it moved up, made a day high 43279.40 and closed on a positive note at 43053.45 with an intra gain 33 points, i.e., 0.08%, today the Nifty Bank Index must move above 43160-43210 levels; if to do so, then it may try to test 43245-43340-43365-43405-43470-43510 levels. On the other hand, any weakness near 43160-43210 further, it moves below 42960-42870 then, the Index may re-visit 42740-42660-42625-42590-42460-42385-42315-42205 levels.

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