30.01.2025-Thursday, 08.50 am 

Good Morning all... 

What has happened yesterday? Nifty Index, opened on a positive note at 23026.75, our expected opening band 22960-22995-23030 on the opening move it made a day low 22976.50, further it moved up; made a day high 23183.35 and closed on a positive note at 23163.10 with intra gain 205.85 points, i.e., 0.90%.

What will happen today? 

Nifty Index: Today, we expect the Nifty may open near 23140-23165-23185 levels; if open, trade and sustain above 23185 then, the index may re-test 23205-23240-23280-23310-23345 levels. On the other hand, the immediate support lies at 23125-23105 if, the Index moves below 23105 then, it may try to re-visit 22975-22940-22910-22880-22855 levels.

Special Mention: Yesterday, Nifty Index continued the pull back rally till our threshold resistance levels i.e.,  23183, made a high 23183.35 and closed above our threshold support levels i.e., 23067. Today, the Nifty index must trade, sustain and closes above 23240-23350, it may continue the pull back rally to re-test 23425-23610 levels. On the other hand, the immediate support seen at 22975-22785-22725, further weakness below 22725 then, the Index may try to re-visit 22640-22560-22460 levels in the near term. Let see how the Index opens today near 23140-23165-23185 levels. 

Nifty Bank Index: Yesterday, Nifty Bank Index opened on a positive note at 48997.20 on the opening move, it made a low 48849.80 thereafter, it moved up, made a high 49199.65 and closed on a positive note at 49165.95 with an intra gain 299.10 points, i.e., 0.61%, today Nifty Bank Index must move and sustain above 49200-49295 levels; if to do so, then it may try to re-test 49355-49445-49650-49780-49910 levels. On the other hand, any weakness near 49200-49295 further, it moves below 49095-48985 then, the Index may re-visit 48850-48745-48640-48535-48400-48360-48270 levels. 

Sensex Index: Yesterday, Sensex opened on a positive note at 76138.24 on the opening move, it made a day low 75975.80; thereafter, it moved up and made a high 76599.73 and closed on a positive note at 76532.96 with an intra gain 631.55 points, i.e., 0.83%, today Sensex must move and sustain above 76600-76695 levels; if to do so, then it may try to re-test 76790-76985-76985-77100-77220-77340 levels. On the other hand, any weakness near 76600-76695 further, it moves below 76400-76290 then, the Index may re-visit 76215-76125-76050-75975-75775 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.2586.43 Cr. On the other hand, DIIs continued as a net buyer, they bought on the net basis to the tune of Rs.1792.71 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.