28.03.2025-Friday, 08.50 am

Good Morning all... 

What has happened yesterday? Nifty Index, opened on a negative note at 23433.95, our expected opening band 23415-23475-23520, on the opening move it made a day low 23412.20, further it moved up; made a day high 23646.45 and closed on a positive note at 23591.95 with intra gain 105.10 points, i.e., 0.45%.

What will happen today? 

Nifty Index: Today, we expect the Nifty may open near 23615-23570-23535 levels; if open, trade and sustain above 23615 then, the index may re-test 23645-23690-23735-23770-23805-23840-23870 levels. On the other hand, the immediate support lies at 23500-23475 if, the Index moves below 23475 then, it may try to re-visit 23435-23405-23375-23350-23315-23275-23225-22180-22130 levels.

Special Mention: Yesterday, Nifty Index continued the consolidation-cum-sell off dragged the index, on opening move till our theshold support levels i.e., 23405, made a low 23412.20, thereafter, the brief intra pull back lifted the index till 23646.95 and closed just below our threshold support levels i.e., 23600. Today, the Nifty index must trade, sustain and closes above 23650-23805-23870; it may continue the pull back rally to re-test 24010-24120-24240 levels. On the other hand, the immediate support seen at 23405-23310, further weakness below 23310 then, the Index may try to re-visit 23175-23090-22910 levels in the near term. Let see how the Index opens today near 23615-23570-23535 levels. 

Nifty Bank Index: Yesterday, Nifty Bank Index opened on a negative note at 51084.70 on the opening move, it made a low 51050.85 thereafter, it moved up, made a high 51714.35 and closed on a positive note at 51575.85 with an intra gain 366.85 points, i.e., 0.72%, today Nifty Bank Index must move and sustain above 51640-51715 levels; if to do so, then it may try to re-test 51800-51895-52065-52190-52320-52490-52565 levels. On the other hand, any weakness near 51640-51715 further, it moves below 51485-51380 then, the Index may re-visit 51305-51205-51130-51050-50960-50870-50785-50590 levels. 

Sensex Index: Yesterday, Sensex opened on a negative note at 77087.39 on the opening move, it made a day low 77082.51; thereafter, it moved up and made a high 77747.46 and closed on a positive note at 77606.43 with an intra gain 317.93 points, i.e., 0.41%, today Sensex must move and sustain above 77670-77745 levels; if to do so, then it may try to re-test 77900-78055-78155-78300-78430-78585-78740 levels. On the other hand, any weakness near 77670-77745 further, it moves below 77550-77415 then, the Index may re-visit 77335-77240-77160-77080-76900-76775-76625-76475 levels.

FII's & DII's Funds Flow: Yesterday, FIIs, continued as a net buyer, they bought on the net basis to the tune of Rs.11111.25 Cr. On the other hand, DIIs turned as a net buyer, they bought on the net basis to the tune of Rs.2517.70 Cr. 

INDIA's Macro Data:-

On 03rd Mar'25-Monday, the HSBC Manufacturing PMI data for the month of Feb'25 released, it moved down to 56.30 from 57.70 i.e., Jan'25. Likewise, the HSBC Services PMI data for the month of Feb'25 released on 05th Mar'25-Wednesday, it moved up to 59.00 from 56.50 i.e., Jan'25.

The RBI MPC meet held on 07th Feb'25-Friday, the MPC has reduced the Repo rate to 6.25% from the existing rate of 6.50% and it has maintained the CRR-Cash Reserve Ratio at 4%. 

GDP data for the Q3 ending Dec'24 released on 28th Feb'25-Friday, the GDP has moved up to 6.20% Vs.5.60% (Q2-Sep'24).

IIP data for Jan'25 released on 12th Mar'25-Wednesday, the Industrial production has gone up to 5%; when compared to the Dec'24 level, i.e., 3.50%. 

Annual Inflation data for Feb'25 released on 12th Mar'25-Wednesday, the inflation has come down to 3.61% from Jan'25 level i.e., 4.26%.

WPI Inflation data for the month of Feb'25 released on 17th Mar'25-Monday, it has gone up to 2.38% as against the Jan'25 level i.e.,2.31%.

Wishing you for a safe, secured and profitable trading.

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The writing in the above daily market update should only be construed as guidance. I assert that any business or investment decisions should not be based purely on the information presented in the daily market update. As a Research Analyst, I will not be responsible for any losses incurred by a visitor/investor/client, as a result of decisions made based on any information given in the daily market update.

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