12.12.22-Monday, 08.30 am 

Good Morning all... 

What has happened on Friday? Nifty Index, as expected and written, opened on a  positive note at 18662.40, our expected opening band 18650-18675 on opening move, the Index made a high 18664.70 thereafter, it moved down, made a day low 18410.10 and closed at 18496.60, on a negative note with an intra loss 112.75 points, i.e., -0.61%.

What will happen today? 

Nifty Index: Today, the Nifty Index may open on a negative note near 18445-18410 levels; if open, trade and sustain above 18450 then, the index may test 18470-18510-18530-18565-18590-18625-18665-18695-18730 levels. On the other hand, the immediate support lies at 18410-18375 if, the Index moves below 18375 then, it may try to re-visit 18345-18310-18260-18225-18175-18135 levels.

Special Mention: On Friday, the Nifty Index continued the down move till 18410.10 and closed above our threshold support levels i.e., 18445; today, the Index must break 18510-18590 levels, if it is moves and sustain above 18590 then, it may test 18665-18785-18885 levels very soon. On the other hand, if the Index moves below 18410-18345 then, it may try to re-visit 18260-18135 levels in the near term. Let see how the Index opens today at 18445-18410 levels, the intra volatility may be in a high note due to weak global cues, trade with due caution and aviod aggressive long position, is my advise at this juncture.

INDIA's Macro Data:

The RBI on its recent MPC meet, increased the Repo rate by 35 bps from 5.90% to 6.25%. 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 4155 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.243,518.30 Cr. as against the Q1 net profit of Rs.212,844.70 Cr. 

Nifty Bank Index: Nifty Bank Index on Friday, opened at 43765.30, on the opening move, it made a day high 43853.40; thereafter, it moved down, made a day lowh 43361.70 and closed on a positive note at 43633.45 with an intra gain 36.60 points, i.e., 0.08%, today the Nifty Bank Index must move above 43710-43800 levels; if to do so, then it may try to test 43855-43985-44090 levels. On the other hand, any weakness near 43710-43800 further, it moves below 43640-43515 then, the Index may re-visit 43365-43315-43225-43160-43055-42950 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.