15.01.2025-Wednesday, 08.50 am 

Good Morning all...

What has happened yesterday? Nifty Index, opened on a positive note at 23165.90 our expected opening band 23120-23140-23185, on the opening move it made a day low 23134.15, further it moved up; made a day high 23264.95 and closed on a positive note at 23176.05 with intra gain 90.10 points, i.e., 0.39%.

What will happen today? 

Nifty Index: Today, we expect the Nifty may open near 23185-23225 levels; if open, trade and sustain above 23225 then, the index may re-test 23265-23300-23325-23355-23385-23410-23460 levels. On the other hand, the immediate support lies at 23150-23135-23115 if, the Index moves below 23115 then, it may try to re-visit 23080-23050-23025-22980-22965-22935-22895-22860-22825 levels.

Special Mention: Yesterday, Nifty Index unable to continue the sell-off, made an inside day pattern i.e., not broken the previous day high or low levels and closed below our threshold support levels i.e., 23190. Today, the Nifty index must trade, sustain and closes above 23260-23340, it may continue the pull back rally to re-test 23500-23880-24225 levels. On the other hand, the immediate support seen at 23025-22825, further weakness below 22825 then, the Index may try to re-visit 22775-22640-22460 levels in the near term. Let see how the Index opens today near 23185-23225 levels. 

Nifty Bank Index: Yesterday, Nifty Bank Index opened on a positive note at 48266.90; on the opening move, it made a  low 48235.20 thereafter, it moved up, made a high 49007.85 and closed on a positive note at 48729.15 with an intra gain 687.90 points, i.e., 1.43%, today Nifty Bank Index must move and sustain above 48780-48840 levels; if to do so, then it may try to re-test 48920-49010-49170-49215-49320-49475 levels. On the other hand, any weakness near 48780-48840 further, it moves below 48620-48590-48530 then, the Index may re-visit 48420-48325-48235-48130-48025-47900 levels. 

Sensex Index: Yesterday, Sensex opened on a positive note at 76335.75, on the opening move, it made a day low 76335.75; thereafter, it moved up and made a high 76835.61 and closed on a positive note at 76499.63 ith an intra loss 169.62 points, i.e., 0.22%, today Sensex must move and sustain above 76525-76690 levels; if to do so, then it may try to re-test 76770-76730-76835-76970-77090-77130-77220-77350-77480 levels. On the other hand, any weakness near 76525-76690 further, it moves below 76450-76335 then, the Index may re-visit 76250-76200-76040-75880 levels.

FII's & DII's Funds Flow: Yesterday, FIIs continued as a net seller, they sold on the net basis to the tune of Rs.8132.26 Cr. On the other hand, DIIs continued as a net buyer, they bought on the net basis to the tune of Rs.7901.06 Cr. 

INDIA's Macro Data:-

On 02nd Jan'25-Thursday, the HSBC Manufacturing PMI data for the month of Dec'24 released, it marginally moved down to 56.40 from 56.50 i.e., Nov'24. Likewise, the HSBC Services PMI data for the month of Dec'24 released on 06th Jan'25-Monday, it moved up to 59.20 from 58.40 i.e., Nov'24.

The RBI MPC meet held on 06th Dec'24-Friday, the MPC maintained status quo in the Repo rate without changing the interest rate i.e., 6.50% but , it has reduced the CRR-Cash Reserve Ratio to 4% from the existing level of 4.50%.

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 Nov'24 released on 10th Jan'25-Friday, the Industrial production has gone up to 5.20%; when compared to the Oct'24 level, i.e., 3.50%. 

Annual Inflation data for Dec'24 released on 13th Jan'25-Monday, the inflation has come down to 5.22% from Nov'24 level i.e., 5.48%.

WPI Inflation data for the month of Dec'24 released on 14th Jan'25-Tuesday, it has gone up to 2.37% as against the Nov'24 level i.e.,1.89%.

Wishing you for a safe, secured and profitable trading.

DISCLAIMER:

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.

Research Analyst Disclaimer: Registration granted by SEBI and certification from NISM in no way guarantee performance of the intermediary or provide any assurance of returns to investors.