14.02.2025-Friday, 08.50 am

Good Morning all... 

What has happened yesterday? Nifty Index, opened on a positive note at 23055.75, our expected opening band 22980-23025-23065, on the opening move it made a day low 22992.20, further it moved up; made a day high  23235.50 and closed on a negative note at 23031.40 with intra loss 13.85 points, i.e., -0.06%.

What will happen today? 

Nifty Index: Today, we expect the Nifty may open near 23085-23110-23145 levels; if open, trade and sustain above 23145 then, the index may re-test 23180-23235-23265-23300-23345-23390-23420 levels. On the other hand, the immediate support lies at 23050-23015 if, the Index moves below 23015 then, it may try to re-visit 22990-22965-22930-22900-22875-22850-22815-22785 levels.

Special Mention: Yesterday, Nifty Index unable to continue the sell-off below our threshold support levels i.e., 22786.90, made a low 22992.20, the intra pull back lifted the index till 23235.50 and closed just above our threshold support levels i.e., 23025. Today, the Nifty index must trade, sustain and closes above 23235-23300-23390; 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 23085-23110-23145 levels. 

Nifty Bank Index: Yesterday, Nifty Bank Index opened on a negative note at 49469.35 on the opening move, it made a low 49276.10 thereafter, it moved up, made a high 49836.10 and closed on a negative note at 49359.85 with an intra loss 119.60 points, i.e., -0.24%, today Nifty Bank Index must move and sustain above 49435-49490 levels; if to do so, then it may try to re-test 49555-49655-49770-49835-49905-49990-50080 levels. On the other hand, any weakness near 49435-49490 further, it moves below 49275-49185 then, the Index may re-visit 49125-49075-48960-48850-48735-48670 levels. 

Sensex Index: Yesterday, Sensex opened on a positive note at 76201.10 on the opening move, it made a day low 76013.43; thereafter, it moved up and made a high 76754.53 and closed on a negative note at 76138.97 with an intra loss 32.11 points, i.e., -0.04%, today Sensex must move and sustain above 76190-76300-76340 levels; if to do so, then it may try to re-test 76390-76470-76545-76680-76765-76970-77160 levels. On the other hand, any weakness near 76190-76300-76340 further, it moves below 76100-76015-75915 then, the Index may re-visit 75815-75715-75550-75390-75270 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.2789.91 Cr. On the other hand, DIIs continued as a net buyer, they bought on the net basis to the tune of Rs.2934.50 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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