17.02.2025-Monday, 08.50 am

Good Morning all... 

What has happened on Friday? Nifty Index, opened on a positive note at 23096.45, our expected opening band 23085-23110-23145, on the opening move it made a day high 23133.70, further it moved down; made a day low  22774.85 and closed on a negative note at 22929.25 with intra loss 102.15 points, i.e., -0.44%.

What will happen today? 

Nifty Index: Today, we expect the Nifty may open near 22910-22955-22995 levels; if open, trade and sustain above 22995 then, the index may re-test 23030-23060-23100-23135-23180-23235-23265-23300-23345-23390 levels. On the other hand, the immediate support lies at 22885-22860 if, the Index moves below 23015 then, it may try to re-visit 22825-22805-22785-22740-22700-22675 levels.

Special Mention: On Friday, Nifty Index unable to continue the pull back above our threshold resistance levels i.e., 23235, the intra sell-off dragged, just broken our threshold support levels i.e, 22786, made a low 22774.85 and closed just below our threshold support levels i.e., 22950. Today, the Nifty index must trade, sustain and closes above 23000-23235-23390; it may continue the pull back rally to re-test 23510-23665-23805 levels. On the other hand, the immediate support seen at 22775-22640, 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       levels. 

Nifty Bank Index: On Friday, Nifty Bank Index opened on a positive note at 49485.65 on the opening move, it made a high 49592.95 thereafter, it moved down, made a low 48719.75 and closed on a negative note at 49099.45 with an intra loss 260.40 points, i.e., -0.53%, today Nifty Bank Index must move and sustain above 49145-49245 levels; if to do so, then it may try to re-test 49335-49495-49590-49705-49835-49905-49990-50080 levels. On the other hand, any weakness near 49145-49245 further, it moves below 49050-48915 then, the Index may re-visit 48820-48720-48600-48480-48325-48175 levels. 

Sensex Index: On Friday, Sensex opened on a positive note at 76388.99 on the opening move, it made a day high 76483.06; thereafter, it moved down and made a low 75439.64 and closed on a negative note at 75939.21 with an intra loss 199.76 points, i.e., -0.26%, today Sensex must move and sustain above 75960-76060 levels; if to do so, then it may try to re-test 76175-76240-76360-76485-76545-76680-76765-76970-77160 levels. On the other hand, any weakness near 75960-76060 further, it moves below 75940-75840 then, the Index may re-visit 75760-75685-75560-75440-75390-75270-75155 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.4294.68 Cr. On the other hand, DIIs continued as a net buyer, they bought on the net basis to the tune of Rs.4363.87 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 Jan'25 released on 14th Feb'25-Friday, it has come down to 2.31% as against the Dec'24 level i.e.,2.37%.

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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