22.12.22-Thursday, 08.30 am 

Good Morning all... 

What has happened yesterday? Nifty Index, as expected and written, opened on a positive note at 18435.15, our expected opening band 18430-18445-18460 on opening move, the Index made a high 18473.45 thereafter, it moved down, made a day low 18162.75 and closed at 18199.10 on a negative note with an intra loss 186.20 points, i.e., -1.01%.

What will happen today? 

Nifty Index: Today, the Nifty Index may open on a positive note with mild gap up near 18255-18285 levels; if open, trade and sustain above 18285-18320 then, the index may test 18350-18380-18405-18445-18475 levels. On the other hand, the immediate support lies at 18200-18165 if, the Index moves below 18165 then, it may try to re-visit 18135-18105-18075-18045-17995 levels.

Special Mention: Yesterday, the Nifty Index continued the downward move till 18162.75 and closed well below our threshold support levels i.e., 18310; today, the Index must break 18285-18385 levels, if it is moves and sustain above 18385-18440 then, it may test 18520-18630-18700 levels in the near term. On the other hand, if the Index moves below 18165-18133 then, it may try to re-visit 18100-17970 levels in the near term. Let see how the Index opens today at 18255-18285 levels, the intra volatility may be in a high note due to today's option weekly expiry and tomorrow's week-end factor, trade with due caution and aviod aggressive 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 4163 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.243,490.50 Cr. as against the Q1 net profit of Rs.212,818.70 Cr. 

Nifty Bank Index: Nifty Bank Index yesterday, opened at 43525.75, on the opening move, it made a day high 43614.65; thereafter, it moved down, made a day low 42363.8 and closed on a negative note at 42617.95 with an intra loss 741.55 points, i.e., -1.17%, today the Nifty Bank Index must move above 42660-42940 levels; if to do so, then it may try to test 43135-43245-43350-43470-43615 levels. On the other hand, any weakness near 42660-42940 further, it moves below 42510-42475-42365 then, the Index may re-visit 42225-42100-41970-41630 levels.

Trading Strategy: The members/followers/readers, those who exited the position, try to re-invest partially near 18250-18100-17950 levels in Nifty 50 stocks with medium term perspective to gain 5-10% return in the near term.

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Wishing you for a safe, secured and profitable trading.