18.02.2025-Tuesday, 08.50 am

Good Morning all... 

What has happened yesterday? Nifty Index, opened on a negative note at 22809.90, our expected opening band 22910-22955-22995, on the opening move it made a day low 22725.75, further it moved up; made a day high  22974.20 and closed on a positive note at 22959.50 with intra gain 30.25 points, i.e., 0.13%.

What will happen today? 

Nifty Index: Today, we expect the Nifty may open near 22900-22945-22980 levels; if open, trade and sustain above 22980 then, the index may re-test 23010-23040-23085-23125-23180-23235-23265-23300-23345-23390 levels. On the other hand, the immediate support lies at 22875-22850 if, the Index moves below 22850 then, it may try to re-visit 22820-22785-22750-227250-22700-22675-22640 levels.

Special Mention: Yesterday, Nifty Index continued the sell-off beyond our threshold support levels i.e., 22785, made a low 22725.75, a mild intra pull back lifted the index till 22974.20 and closed just below our threshold resistance levels i.e., 22975. Today, the Nifty index must trade, sustain and closes above 23085-23235-23390; it may continue the pull back rally to re-test 23510-23665-23805 levels. On the other hand, the immediate support seen at 22725-22640, 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 22900-22945-22980 levels. 

Nifty Bank Index: Yesterday, Nifty Bank Index opened on a negative note at 48880.40 on the opening move, it made a low 48525.60 thereafter, it moved up, made a high 49319 and closed on a positive note at 49258.90 with an intra gain 159.45 points, i.e., 0.32%, today Nifty Bank Index must move and sustain above 49320-49450 levels; if to do so, then it may try to re-test 49540-49685-49835-49925-50020-50190 levels. On the other hand, any weakness near 49320-49450 further, it moves below 49150-49085 then, the Index may re-visit 49005-48920-48830-600-48480-48325-48175 levels. 

Sensex Index: Yesterday, Sensex opened on a negative note at 75641.41 on the opening move, it made a day low 75294.76; thereafter, it moved up and made a high 76041.96 and closed on a positive note at 75996.86 with an intra gain 57.65 points, i.e., 0.08%, today Sensex must move and sustain above 76040-76115 levels; if to do so, then it may try to re-test 76200-76330-76450-76595-76680-76765-76970-77160 levels. On the other hand, any weakness near 76040-76115 further, it moves below 75880-75760 then, the Index may re-visit 75670-75580-75470-75380-75295-75185-75090 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.3937.83 Cr. On the other hand, DIIs continued as a net buyer, they bought on the net basis to the tune of Rs.4759.77 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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