21.02.2025-Friday, 08.50 am

Good Morning all... 

What has happened yesterday? Nifty Index, opened on a negative note at 22821.10, our expected opening band 22930-22905-22860, on the opening move it made a day low 22812.75, further it moved up; made a day high 22923.85 and closed on a negative note at 22913.15 with intra loss 19.75 points, i.e., -0.09%.

What will happen today? 

Nifty Index: Today, we expect the Nifty may open near 22955-22900-22870 levels; if open, trade and sustain above 22955 then, the index may re-test 22980-23015-23050-23085-23125-23175-23205-23235-23265 levels. On the other hand, the immediate support lies at 22855-22805 if, the Index moves below 22805 then, it may try to re-visit 22775-22750-22725-22700-22675-22640-22595 levels.

Special Mention: Yesterday, Nifty Index unable to continue the sell-off beyond our threshold support levels i.e., 22800, as well the index unable to move above 22925 and closed below our threshold resistance levels i.e., 22980. Today, the Nifty index must trade, sustain and closes above 22980-23050-23085; it may continue the pull back rally to re-test 23235-23395-23500 levels. On the other hand, the immediate support seen at 22800-22725-22640, further weakness below 22640 then, the Index may try to re-visit 22460-21820 levels in the near term. Let see how the Index opens today near  levels. 

Nifty Bank Index: Yesterday, Nifty Bank Index opened on a negative note at 49314.10 on the opening move, it made a low 49150.95 thereafter, it moved up, made a high 49455.80 and closed on a negative note at 49334.55 with an intra loss 235.55 points, i.e., -0.48%, today Nifty Bank Index must move and sustain above 49400-49455 levels; if to do so, then it may try to re-test 49540-49685-49825-49930-50040-50180 levels. On the other hand, any weakness near 49400-49455 further, it moves below 49280-49150 then, the Index may re-visit 49070-49025-48930-48835-48680-48525 levels. 

Sensex Index: Yesterday, Sensex opened on a negative note at 75672.84 on the opening move, it made a day low 75463.01; thereafter, it moved up and made a high 75794.15 and closed on a negative note at 75735.96 with an intra loss 203.22 points, i.e., -0.27%, today Sensex must move and sustain above 75795-75885 levels; if to do so, then it may try to re-test 75940-76030-76115-76220-76340-76450 levels. On the other hand, any weakness near 75795-75885 further, it moves below 75675-75590 then, the Index may re-visit 75540-75465-75415-75370-75295-75185-75090 levels.

FII's & DII's Funds Flow: Yesterday, FIIs, turned as a net seller, they sold on the net basis to the tune of Rs.3311.55 Cr. On the other hand, DIIs continued as a net buyer, they bought on the net basis to the tune of Rs.3907.64 Cr. 

INDIA's Macro Data:-

On 03rd Feb'25-Monday, the HSBC Manufacturing PMI data for the month of Jan'25 released, it moved up to 57.70 from 56.40 i.e., Dec'24. Likewise, the HSBC Services PMI data for the month of Jan'25 released on 05th Feb'25-Wednesday, it moved down to 56.50 from 59.30 i.e., Dec'24.

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 Q2 ending Sep'24 released on 29th Nov'24-Friday, the GDP has moved down to 5.40% Vs.6.70% (Q1-Jun'24).

IIP data for Dec'24 released on 12th Feb'25-Wednesday, the Industrial production has come down to 3.20%; when compared to the Nov'24 level, i.e., 5.00%. 

Annual Inflation data for Jan'25 released on 12th Feb'25-Wednesday, the inflation has come down to 4.31% from Dec'24 level i.e., 5.22%.

WPI Inflation data for the month of Jan'25 released on 14th Feb'25-Friday, it has come down to 2.31% as against the Dec'24 level i.e.,2.37%.

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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