25.01.23-Wednesday, 08.30 am 

Good Morning all... 

What has happened yesterday? Nifty Index, as expeted and written, opened on a positive note at 18183.95, our expected opening band 18160-18190-18225; on opening move, the Index made a day high 18201.25 thereafter, it moved down, made a day low 18078.65 and closed at 18118.30 on a flat note with an intra loss 0.25 points, i.e., 0.00%.

What will happen today? 

Nifty Index: Today, Nifty Index may open on a flat to negative note near 18115-18095-18075 levels; if open, trade and sustain above 18115 then, the index may test 18135-18165-18185-18200-18230-18265 levels. On the other hand, the immediate support lies at 18075-18060-18040 if, the Index move below 18040 then, it may try to re-visit 18015-17995-17970-17935-17895-17860-17825 levels.

Special Mention: Yesterday, Nifty Index continued the up move till 18201 and closed below our threshold resistance levels  i.e, 18185; today, the Index must break 18185-18200-18225 levels, if it moves and sustain above 18225-18265 then, it may re-test 18330-18475 levels in the near term, the Nifty Index may face strong resistance near 18265-18330 band in the near term, it must move and close above these levels atleast for three consecutive trading sessions, then only further up move is possible till 18475-18600-18700 levels. On the other hand, the strong support lies at 18020-17970, if the Index moves below 18020-17970-17940 then, it may try to re-visit 17860-17760-17640 levels in the near term. Let see how the Index opens today at 18115-18095-18075 levels, the intra volatility may be in a high note due to today's F&O expiry, India Inc results and global cues, trade with due caution and aviod aggressive long/short position unless the Nifty Index moves either below 17775 or above 18265 levels.

Nifty Bank Index: Yesterday, Nifty Bank Index, opened at 42994.45 on the opening move, it made a day high 43078.90 thereafter, it moved down, made a day low 42615.65 and closed on a negative note at 42733.45 with an intra loss 87.80 points, i.e., -0.21%, today the Nifty Bank Index must move above 42760-42850 levels; if to do so, then it may try to test 42945-42980-43025-43080-43200 levels. On the other hand, any weakness near 42760-42850 further, it moves below 42670-42615-42540 then, the Index may re-visit 42470-42355-42250-42150 levels.

India Inc. Earnings:

The India Inc. Q3 (Oct-Dec'22) earnings started to announce, so far out of 4248 companies 378 announced their Q3 earnings, the net seen a positive growth about 13.50%, when compared with a last quarter. The Net profit for Q3 stood at Rs.102,808.50 Cr. as against the Q2 net profit of Rs.90,582.80 Cr. 

INDIA's Macro Data:

On 02nd Jan'23, the S&P Global Manufacturing PMI data for the month of Dec'22 released, it moved up to 57.80% from 55.70% (Nov'22). Likewise, the S&P Global Services PMI data for the month of Dec'22 released on 04th Jan'23, it moved up to 58.50% from 56.40% (Nov'22).

The RBI MPC meet held on 07th Dec,  the MPC increased the Repo rate by 35 bps from 5.90% to 6.25%.

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).

IIP data for Nov'22 released on 12th Jan'23-Thursday, the data shows that, the Industrial production moved to positive zone at 7.10% when compared to the last month (Oct"22) negative reading i.e., -4%.

Annual Inflation data for Dec'22 releasd on 12th Jan'23-Thursday, it shows that the Inflation has come down further to 5.72% from Nov'22 level i.e., 5.88%.

WPI Inflation data for the month of Dec'22 released on 16th Jan-Monday, it has further come down to 4.95 Vs.5.85% (Nov'22).

Trading Strategy: The members/followers/readers, those who booked profit near 18250 levels, try to re-invest partially near 17750-17600 in Nifty 50 stocks with medium term perspective to gain 6-10% and trade with caution.

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Wishing you for a safe, secured and profitable trading.