25.04.23-Tuesday, 08.30 am 

Good Morning all... 

What has happened yesterday? Nifty Index, as expected and written, opened on a positive note at 17707.55; our expected opening band 17630-17665 on opening move, the Index made a day low 17612.50; thereafter, it moved up, made a day high 17754.50 and closed at 17743.40 on a positive note with an intra gain 119.35 points, i.e., 0.68%.

What will happen today? 

Nifty Index: Today, Nifty Index may open on a flat note near 17730-17755-17770 levels; if open, trade and sustain above 17770 then, the index may test 17795-17830-17865-17905-17945 levels. On the other hand, the immediate support lies at 17700-17675 if, the Index move below 17675 then, it may try to re-visit 17655-17615-17575-17555 levels.

Special Mention: Yesterday, Nifty Index took strong support near 17605 and moved up till 17754 and closed well above 17710 levels; today, the Index must break 17755-17800 levels, if it moves and sustain above 17800 then, it may re-test 18000-18135 levels in the near term. On the other hand, the strong support lies at 17650-17555, if the Index moves below 17575-17555 and closes below 17555 for three trading session then the Index may try to re-visit 17350-17200 levels in the near term. Let see how the Index opens today at 17730-17755-17770 levels. This week, the intra volatility may be in high note due to F&O expiry and month-end factor; hence trade with due caution and avoid aggressive long/short position.

Nifty Bank Index: Yesterday, Nifty Bank Index, opened at 42469.95 on the opening move, it made a day low 42269.10; thereafter, it moved up, made a day high 42714.15 and closed on a positive note at 42635.75 with an intra gain 517.75 points, i.e., 1.23%, today the Nifty Bank Index must move above 42665-42715 levels; if to do so, then it may try to test 42775-42835-42925-43000 levels. On the other hand, any weakness near 42665-42715 further, it moves below 42600-42575 then, the Index may re-visit 42490-41375-42320-42270-42150 levels.

India Inc. Earnings:

India Inc. Q4 Earnings Session (Jan-Mar'23): So far out of 4248 companies 92 of them, announced their Q4 earnings, the net profit seen a positive growth about 9.40%, when compared with a Q3 quarter. The Net profit for Q4 stood at Rs.61,607.40 cr. as against the Q3 net profit of Rs.56,313.80 cr. 

INDIA's Macro Data:

On 03rd Apr'23, the S&P Global Manufacturing PMI data for the month of Mar'23 released, it moved up to 56.40% from 55.30% (Feb'23). Likewise, the S&P Global Services PMI data for the month of Mar'23 released on 05th Apr'23, it moved down to 57.80% from 59.40% (Feb'23).

The RBI MPC meet held on 06th Apr'23-Thursday,  the MPC maintained status quo in the Repo rate without changing the interest  rate i.e., 6.50%.

GDP data for the Q3 ending Dec'22 released on 28th Feb'23, the GDP slipped into 4.40% Vs.6.30% (Q2-Sep'22).

IIP data for Feb'23 released on 12th Apr'23-Wednesday, the data shows that, the Industrial production has moved up to 5.60% when compared to the Jan'23, it stood at 5.50%. 

Annual Inflation data for Mar'23 releasd on 12th Apr'23-Monday, it shows that the Inflation has marginally come down to 5.66% from Jan'23 level i.e., 6.44%.

WPI Inflation data for the month of Feb'23 released on 14th Mar'23-Tuesday, it has further come down to 5.66 as against the February'23 level i.e.,4.73%.

Trading Strategy: The members/followers/readers, those who booked profit near 17800-18000 levels, try to re-invest near 17200-16900 for medium term prespective in Nifty 50 stocks to gain 6-9% return.

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Wishing you for a safe, secured and profitable trading.