26.04.23-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 17761.55; our expected opening band 17730-17755-17770 on opening move, the Index made a day low 17716.85; thereafter, it moved up, made a day high 17807.45 and closed at 17769.25 on a positive note with an intra gain 25.85 points, i.e., 0.15%.

What will happen today? 

Nifty Index: Today, Nifty Index may open on a flat note near 17755-17780-17807 levels; if open, trade and sustain above 17807 then, the index may test 17830-17865-17905-17945 levels. On the other hand, the immediate support lies at 17730-17715 if, the Index move below 17715 then, it may try to re-visit 17690-17675-17635-17610-17585-17555 levels.

Special Mention: Yesterday, Nifty Index continued the northward journey and made high 17807, further closed well above 17710 levels; today, the Index must break 17807-17830 levels, if it moves and sustain above 17830 then, it may re-test 18000-18135 levels in the near term. On the other hand, the strong support lies at 17750-17690, if the Index moves below 17690-17555 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 17755-17780-17807 levels, the intra volatility may be in high note due to tomorrow's 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 42731.60 on the opening move, it made a day high 42865.55; thereafter, it moved down, made a day low 42601.50 and closed on a positive note at 42678.50 with an intra gain 42.75 points, i.e., 0.10%, today the Nifty Bank Index must move above 42780-42825-42865 levels; if to do so, then it may try to test 42935-43000-43075 levels. On the other hand, any weakness near 42780-42825-42865 further, it moves below 42600-42520 then, the Index may re-visit 42415-41325-42175-42070-41970 levels.

India Inc. Earnings:

India Inc. Q4 Earnings Session (Jan-Mar'23): So far out of 4248 companies 121 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.66,271.60 cr. as against the Q3 net profit of Rs.60,555.30 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.

For further details please do call us on 98410 48022 or contact thro' WhatsApp: 99624 70636. Please read carefully, the Disclaimer published in the Disclaimer page.

Wishing you for a safe, secured and profitable trading.