27.01.2025-Monday, 08.50 am 

Good Morning all... 

What has happened on Friday? Nifty Index, opened on a negative note at 23183.90, our expected opening band 23220-23255-23270 on the opening move it made a day high 23347.90, further it moved down; made a day low 23050 and closed on a negative note at 23092.20 with intra loss 113.15 points, i.e., -0.49%.

What will happen today? 

Nifty Index: Today, we expect the Nifty may open near 23120-23090-23050 levels; if open, trade and sustain above 23120 then, the index may re-test 23165-23200-23235-23260-23295-23320-23345-23475 levels. On the other hand, the immediate support lies at 23020-22975 if, the Index moves below 22975 then, it may try to re-visit 22955-22910-22870-22825-22775 levels.

Special Mention: On Friday, Nifty Index continued the pull back rally till 23347.30 but the intra sell-off dragged the Index till 23050 and closed well below our threshold support levels i.e., 23150. Today, the Nifty index must trade, sustain and closes above 23150-23240, it may continue the pull back rally to re-test 23350-23425-23560 levels. On the other hand, the immediate support seen at 22975-22910, further weakness below 22910 then, the Index may try to re-visit 22825-22775-22640 levels in the near term. Let see how the Index opens today near 23120-23090-23050 levels. 

Nifty Bank Index: On Friday, Nifty Bank Index opened on a negative note at 48546.05 on the opening move, it made a high 48858.65 thereafter, it moved down, made a low 48203 and closed on a negative note at 48367.80 with an intra loss 221.20 points, i.e., -0.46%, today Nifty Bank Index must move and sustain above 48420-48530 levels; if to do so, then it may try to re-test 48665-48780-48860-48950-49035-49140 levels. On the other hand, any weakness near 48420-48530 further, it moves below 48280-48200 then, the Index may re-visit 48105-48025-47900-47735-47500 levels. 

Sensex Index: On Friday, Sensex opened on a negative note at 76455.35, on the opening move, it made a day high 76985.95; thereafter, it moved below and made a low 76091.75 and closed on a negative note at 76190.46 with an intra loss 329.92 points, i.e., -0.43%, today Sensex must move and sustain above 76310-76405 levels; if to do so, then it may try to re-test 76535-76645-76725-76795-76885-76985-77230 levels. On the other hand, any weakness near 76310-76405 further, it moves below 76090-75960 then, the Index may re-visit 75800-75640-75560-75430-75300 levels.

FII's & DII's Funds Flow: On Friday, FIIs continued as a net seller, they sold on the net basis to the tune of Rs.2758.49 Cr. On the other hand, DIIs continued as a net buyer, they bought on the net basis to the tune of Rs.2420.31 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.

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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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