14.12.22-Wednesday, 08.30 am 

Good Morning all... 

What has happened yesterday? Nifty Index, as expected and written, opened on a flat to positive note at 18524.40, our expected opening band 18510-18530 on opening move, the Index made a low 18490.20 thereafter, it moved up, made a day high 18617.25 and closed at 18608, on a positive note with an intra gain 110.85 points, i.e., 0.60%.

What will happen today? 

Nifty Index: Today, the Nifty Index may open on a positive note near 18650-18680 levels; if open, trade and sustain above 18680 then, the index may test 18695-18730-18770-18825 levels. On the other hand, the immediate support lies at 18620-18580 if, the Index moves below 18580 then, it may try to re-visit 18565-18520-18490-18450-18410 levels.

Special Mention: Yesterday, the Nifty Index continued the pull back rally, made a high till 18617 and closed above our threshold support levels i.e., 18445; today, the Index must break 18665-18730 levels, if it is moves and sustain above 18730 then, it may test 18780-18885-18925 levels very soon. On the other hand, if the Index moves below 18615-18565 then, it may try to re-visit 18490-18350-18260 levels in the near term. Let see how the Index opens today at 18650-18680 levels, the intra volatility may be in a high note due 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 RBI MPC meet held on 07th Dec,  the MPC 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 4158 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 yesterday, opened at 43793.70, on the opening move, it made a day low 43767.75; thereafter, it moved up, made a day high 43983.80 and closed on a positive note at 43946.55 with an intra gain 237.80 points, i.e., 0.54%, today the Nifty Bank Index must move above 43985-44040-44080 levels; if to do so, then it may try to test 44160-44235-44330-44435 levels. On the other hand, any weakness near 43985-44040-44080 further, it moves below 43850-43770 then, the Index may re-visit 43710-43660-43515-43380 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.