07.12.22-Wednesday, 08.30 am 

Good Morning all... 

What has happened yesterday? Nifty Index, as expected and written, a negative note at 18600.65, our expected opening band 18680-18640 on opening move, the Index made a low 18577.90 thereafter, it moved up, made a day high 18654.90 and closed at 18642.75, on a negative note with an intra loss -58.30 points, i.e., -0.31%.

What will happen today? 

Nifty Index: Today, the Nifty Index may open on a flat note near 18640-18595 levels; if open, trade and sustain above 18640-18655 then, the index may test 18675-18705-18730-18770-18795-18820-18850-18885 levels. On the other hand, the immediate support lies at 18595-18575 if, the Index moves below 18575 then, it may try to re-visit 18555-18510-18475-18445 levels.

Special Mention: Yesterday, the Nifty Index continued the downward move till 18577.90 and closed just above our threshold levels i.e., 18640; today, the Index must break 18675-18730 levels, if it is moves and sustain above 18675-18730 then, it may test 18885-18950-19050 levels very soon. On the other hand, if the Index moves below 18575-18510 then, it may try to re-visit 18440-18260-18135 levels in the near term. Let see how the Index opens today at 18640-18595 levels, the intra volatility may be in a high note due to tomorrow's weekly  option expiry, trade with due caution and aviod aggressive short/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 4150 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.243,272 Cr. as against the Q1 net profit of Rs.212,664.30 Cr. 

Nifty Bank Index: Nifty Bank Index yesterday, opened at 43093.90, on the opening move, it made a day high 43306.85; thereafter, it moved down, made a day low 43076.40 and closed on a negative note at 43138.55 with an intra loss -194.40 points, i.e., -0.45%, today the Nifty Bank Index must move above 43180-43240-43305 levels; if to do so, then it may try to test  43370-43425-43515-43670-43735-43805-43870 levels. On the other hand, any weakness near 43180-43240-43305 further, it moves below 43075-43010 then, the Index may re-visit 42920-42830-42740-42625-42555 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.