01.12.22-Thursday, 08.30 am 

Good Morning all... 

What has happened yesterday? Nifty Index, as expected and written, opened on a positive note at 18625.70, our expected opening band 18615-18645 on opening move, the Index made a low 18616.55; thereafter, it moved up, made a day high 18816.05 and closed at 18758.35, on a positive note with an intra gain 140.30 points, i.e., 0.75%.

What will happen today?

Nifty Index: Today, the Nifty Index may open on a positive note near 18795-18815-18835 levels; if open, trade and sustain above 18835 then, the index may test 18870-18900-18940 levels. On the other hand, the immediate support lies at 18755-18715 if, the Index moves below 18715 then, it may try to re-visit 18680-18660-18640-18615-18585-18555 levels.

Special Mention: Yesterday, the Nifty Index continued the northward rally made an another new all time high 18816.05 and closed above our threshold levels i.e., 18640; today, the Index must break 18815-18835 levels, if it is moves and sustain above 18815-18835 then, it may test 18950-19050 levels very soon. 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 18795-18815-18835 levels, the intra volatility may be in a high note, due to today's option weekly expiry and tomorrow's week-end factor, trade with due caution and aviod aggressive long position, is my advise at this juncture.

INDIA's Macro Data:

The GDP data for the quarter ending Sep'22 released yesterday, the GDP slipped into 6.30% Vs.13.50% (Jun'22 quarter). 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 4140 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.243,139.20 Cr. as against the Q1 net profit of Rs.212,723.50 Cr. 

Nifty Bank Index: Nifty Bank Index yesterday, opened at 43122.75, on the opening move, it made a day low 42880.05; thereafter, it moved up, made a day high 43332.30 and closed on a positive note at 43231 with an intra gain 177.55 points, i.e., 0.41%, today the Nifty Bank Index must move above 43335-43450 levels; if to do so, then it may try to test 43500-43570-43638-43710 levels. On the other hand, any weakness near 43335-43450 further, it moves below 43200-43010 then, the Index may re-visit 42880-42750-42660-42625-42590-42460-42385 levels.

Trading Strategy: The members/followers/readers, those who invested near 16950 levels, try to book full profit near 18750-18840-19050 levels or the stocks given 24-30% 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.