02.12.22-Friday, 08.30 am 

Good Morning all... 

What has happened yesterday? Nifty Index, as expected and written, opened on a positive note at 18871.95, our expected opening band 18795-18815-18835 on opening move, the Index made a high 18887.60; thereafter, it moved down, made a day low 18778.20 and closed at 18812.50, on a positive note with an intra gain 54.15 points, i.e., 0.29%.

What will happen today?

Nifty Index: Today, the Nifty Index may open on a flat note near 18830-18810-18795 levels; if open, trade and sustain above 18830 then, the index may test 18855-18885-18915-18940-18975-19000 levels. On the other hand, the immediate support lies at 18780-18750 if, the Index moves below 18750 then, it may try to re-visit 18725-18680-18665-18650-18615-18585-18555-18510 levels.

Special Mention: Yesterday, the Nifty Index continued the northward rally, further it made an another new all time high 18887.60 and closed above our threshold levels i.e., 18640; today, the Index must break 18815-18885 levels, if it is moves and sustain above 18815-18885 then, it may test 18950-19050 levels very soon. On the other hand, if the Index moves below 18750-18620 then, it may try to re-visit 18440-18260-18135 levels in the near term. Let see how the Index opens today at 18830-18810-18795 levels, the intra volatility may be in a high note, due to today'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 Q2 ending Sep'22 released on 30th Nov'22, the GDP slipped into 6.30% Vs.13.50% (Q1-Jun'22). 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 4144 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.243,137.80 Cr. as against the Q1 net profit of Rs.212,721.90 Cr. 

Nifty Bank Index: Nifty Bank Index yesterday, opened at 43512.10, on the opening move, it made a day high 43515.05; thereafter, it moved down, made a day low 43101.85 and closed on a positive note at 43260.65 with an intra gain 29.65 points, i.e., 0.07%, today the Nifty Bank Index must move above 43340-43360-43460 levels; if to do so, then it may try to test 43515-43630-43710-43770-43825 levels. On the other hand, any weakness near 43340-43360-43460 further, it moves below 43200-43100 then, the Index may re-visit 43050-42925-42830-42740-42660-42625-42555 levels.

Trading Strategy: The members/followers/readers, those who invested near 16950 levels, try to exit all the position near 18850-19050 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.