06.12.22-Tuesday, 08.30 am 

Good Morning all... 

What has happened yesterday? Nifty Index, as expected and written, opened on a positive note at 18719.55, our expected opening band 18710.18740 on opening move, the Index made a low 18591.35; thereafter, it moved up, made a day high 18728.60 and closed at 18701.05, on a positive note with an intra gain 4.95 points, i.e., 0.03%.

What will happen today? 

Nifty Index: Today, the Nifty Index may open on a negative note near 18680-18640 levels; if open, trade and sustain above 18680 then, the index may test 18715-18730-18765-18800-18825-18855-18890 levels. On the other hand, the immediate support lies at 18630-18590 if, the Index moves below 18640 then, it may try to re-visit 18555-18510-18475-18445 levels.

Special Mention: Yesterday, the Nifty Index unable to continue the upward rally, further the Index moved down till 18591 and closed above our threshold levels i.e., 18640; today, the Index must break 18730-18765 levels, if it is moves and sustain above 18730-18765 then, it may test 18885-18950-19050 levels very soon. On the other hand, if the Index moves below 18675-18640 then, it may try to re-visit 18440-18260-18135 levels in the near term. Let see how the Index opens today at 18680-18640 levels, the intra volatility may be in a high note, 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 4149 announced their Q2 earnings, the net profit seen a positive growth about 14.40%, when compared with a last quarter. The Net profit for Q2 stood at Rs.243,219.40 Cr. as against the Q1 net profit of Rs.212,613.70 Cr. 

Nifty Bank Index: Nifty Bank Index yesterday, opened at 43269.35, on the opening move, it made a day low 42985; thereafter, it moved up, made a day high 43372.15 and closed on a negative note at 43332.95 with an intra gain 229.20 points, i.e., 0.53%, today the Nifty Bank Index must move above 43335-43475 levels; if to do so, then it may try to test  43515-43670-43735-43805-43870 levels. On the other hand, any weakness near 43335-43475 further, it moves below 43255-43160 then, the Index may re-visit 42940-42830-42740-42625-42555 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.