15.12.22-Thursday, 08.30 am 

Good Morning all... 

What has happened yesterday? Nifty Index, as expected and written, opened on a positive note at 18671.25, our expected opening band 18650-18680 on opening move, the Index made a high 18696.10 thereafter, it moved up, made a day low 18632.90 and closed at 18660.30 on a positive note with an intra gain 52.30 points, i.e., 0.28%.

What will happen today? 

Nifty Index: Today, the Nifty Index may open on a negative note near 18620-18595 levels; if open, trade and sustain above 18620-18635 then, the index may test 18675-18695-18715-18730-18750-18770 levels. On the other hand, the immediate support lies at 18595-18560 if, the Index moves below 18560 then, it may try to re-visit 18520-18520-18490-18450-18425-18385-18350 levels.

Special Mention: Yesterday, the Nifty Index continued the pull back rally, made a high till 18696.10 and closed above our threshold support levels i.e., 18615; today, the Index must break 18695-18730 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 18620-18595 levels, the intra volatility may be in a high note due today's weekly option expiry and tomorrow's week-end factor, 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 Oct'22 released on 12th Dec-Monday, the data shows that, the Industrial production turned to a negative zone at -4% when compared to the last month (Sep"22) reading i.e., 3.50%. The Annual Inflation data for Nov'22 releasd on 12th Dec, the data shows that the Inflation has come down further to 5.88% from Oct'22 level i.e., 6.77% and WPI Inflation data also came on 14th Dec-Wednesday for the month of Nov'22, it stood at 5.85% Vs.8.39% (Oct'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 44078.60, on the opening move, it made a day high 44151.80; thereafter, it moved down, made a day low 43987.95 and closed on a positive note at 44049.10 with an intra gain 102.55 points, i.e., 0.23%, today the Nifty Bank Index must move above 44100-44150 levels; if to do so, then it may try to test 44195-44235-44330-44435 levels. On the other hand, any weakness near 44100-44150 further, it moves below 43990-43925 then, the Index may re-visit 43850-43760-43690-43660-43560-43470 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.