27.04.23-Thursday, 08.30 am 

Good Morning all... 

What has happened yesterday? Nifty Index, as expected and written, opened on a flat note at 17767.30; our expected opening band 17755-17780-17807 on opening move, the Index made a day low 17711.20; thereafter, it moved up, made a day high 17827.75 and closed at 17813.60 on a positive note with an intra gain 44.35 points, i.e., 0.25%.

What will happen today? 

Nifty Index: Today, Nifty Index may open on a flat note near 17790-17810-17830 levels; if open, trade and sustain above 17830 then, the index may test 17860-17905-17945-17970-18000 levels. On the other hand, the immediate support lies at 17770-17740 if, the Index move below 17740 then, it may try to re-visit 17710-17680-17665-17635-17610-17585-17555 levels.

Special Mention: Yesterday, Nifty Index took support at our threshold support levels i.e.,17110 and continued the northward journey and made high 17827, further closed well above 17710 levels; today, the Index must break 17830-17865 levels, if it moves and sustain above 17865 then, it may re-test 18000-18135 levels in the near term. On the other hand, the strong support lies at 17710-17655, if the Index moves below 17655-17555 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 today's F&O expiry and tomorrow's week cum month-end factor; hence trade with due caution.

Nifty Bank Index: Yesterday, Nifty Bank Index, opened at 42559.05 on the opening move, it made a day low 42432.25; thereafter, it moved up, made a day high 42875.60 and closed on a positive note at 42829.90 with an intra gain 151.40 points, i.e., 0.35%, today the Nifty Bank Index must move above 42875-42965-42995 levels; if to do so, then it may try to test 43075-43240-43380-43520 levels. On the other hand, any weakness near 42875-42965-42995 further, it moves below 42700-42610 then, the Index may re-visit 42535-42430-41310-42175-42070-41970 levels.

India Inc. Earnings:

India Inc. Q4 Earnings Session (Jan-Mar'23): So far out of 4248 companies 145 of them, announced their Q4 earnings, the net profit seen a positive growth about 10.00%, when compared with a Q3 quarter. The Net profit for Q4 stood at Rs.73,495.30 cr. as against the Q3 net profit of Rs.66,802.60 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.