25.02.2025-Tuesday, 08.50 am

Good Morning all... 

What has happened yesterday? Nifty Index, opened on a negative note at 22609.35, our expected opening band 22795-22760-22700, on the opening move it made a day high 22668.80, further it moved down; made a day low 22518.80 and closed on a negative note at 22553.5 with intra loss 242.55 points, i.e., -1.06%.

What will happen today? 

Nifty Index: Today, we expect the Nifty may open near 22590-22555-22510 levels; if open, trade and sustain above 22590 then, the index may re-test 22625-22650-22670-22720-22750-22785-22810-22845 levels. On the other hand, the immediate support lies at 22480-22460 if, the Index moves below 22460 then, it may try to re-visit 22435-22410-22385-22345-22310 levels.

Special Mention: Yesterday, Nifty Index continued the sell-off below our threshold support levels i.e, 22640, made a low 22518.80 and closed below 22640. Today, the Nifty index must trade, sustain and closes above 22720-22785-22825; it may continue the pull back rally to re-test 23050-23235 levels. On the other hand, the immediate support seen at 22510-22460, further weakness below 22460 then, the Index may try to re-visit 22120-21870 levels in the near term. Let see how the Index opens today near 22590-22555-22510 levels. 

Nifty Bank Index: Yesterday, Nifty Bank Index opened on a negative note at 48619.80 on the opening move, it made a low 48281.90 thereafter, it moved up, made a high 48748.40 and closed on a negative note at 48651.95 with an intra loss 329.25 points, i.e., -0.67%, today Nifty Bank Index must move and sustain above 48695-48750 levels; if to do so, then it may try to re-test 48800-48875-48955-49110-49235-49340 levels. On the other hand, any weakness near 48695-48750 further, it moves below 48515-48460 then, the Index may re-visit 48390-48280-48175-48055-47950-47845 levels. 

Sensex Index: Yesterday, Sensex opened on a negative note at 74893.45 on the opening move, it made a day high 74907.04; thereafter, it moved down and made a low 74387.44 and closed on a negative note at 74454.41 with an intra loss 856.65 points, i.e., -1.14%, today Sensex must move and sustain above 74510-74595 levels; if to do so, then it may try to re-test 74650-74710-74845-74910-74990-75050-75130 levels. On the other hand, any weakness near 74510-74595 further, it moves below 74390-74245 then, the Index may re-visit 74080-73950-73885-73740-73595 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.6286.70 Cr. On the other hand, DIIs continued as a net buyer, they bought on the net basis to the tune of Rs.5185.65 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.

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.

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