13.02.2025-Thursday, 08.50 am

Good Morning all... 

What has happened yesterday? Nifty Index, opened on a negative note at 23050.80, our expected opening band 23035-23080-23115, on the opening move it made a day low 22798.35, further it moved up; made a day high  23144.70 and closed on a negative note at 23045.25 with intra loss 26.55 points, i.e., -0.12%.

What will happen today? 

Nifty Index: Today, we expect the Nifty may open near 22980-23025-23065 levels; if open, trade and sustain above 23065 then, the index may re-test 23095-23125-23145-23165-23190-23215-23240-23265-23305-23345-23390 levels. On the other hand, the immediate support lies at 22960-22930 if, the Index moves below 22930 then, it may try to re-visit 22905-22880-22840-22825-22786-22745-22705 levels.

Special Mention: Yesterday, Nifty Index continued the sell-off dragged till our threshold support levels i.e., 22786.90, made a low 22798.35, the intra pull back lifted till 23144.70 and closed just above our threshold support levels i.e., 23025. Today, the Nifty index must trade, sustain and closes above 23175-23305-23390; it may continue the pull back rally to re-test 23510-23665-23805 levels. On the other hand, the immediate support seen at 22785-22640, 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 22980-23025-23065 levels. 

Nifty Bank Index: Yesterday, Nifty Bank Index opened on a negative note at 49402.25 on the opening move, it made a low 48734.35 thereafter, it moved up, made a high 49702.35 and closed on a positive note at 49479.45 with an intra gain 76.05 points, i.e., 0.15%, today Nifty Bank Index must move and sustain above 49550-49700 levels; if to do so, then it may try to re-test 49770-49905-49965-50080-50160-50230-50425 levels. On the other hand, any weakness near 49550-49700 further, it moves below 49420-49355-49320 then, the Index may re-visit 49240-49180-49105-49010-48960-48850-48735-48670 levels. 

Sensex Index: Yesterday, Sensex opened on a negative note at 76188.24 on the opening move, it made a day low 75388.39; thereafter, it moved up and made a high 76459.72 and closed on a negative note at 76171.08 with an intra loss 122.52 points, i.e., -0.16%, today Sensex must move and sustain above 76245-76460 levels; if to do so, then it may try to re-test 76600-76750-76800-76960-77060-77160-77385-77540-77600 levels. On the other hand, any weakness near 76245-76460 further, it moves below 76145-76050-75900 then, the Index may re-visit 75800-75640-75515-75390-75270 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.4969.30 Cr. On the other hand, DIIs continued as a net buyer, they bought on the net basis to the tune of Rs.5929.24 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 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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