27.02.2025-Thursday, 08.50 am

Good Morning all... 

What has happened on Tuesday? Nifty Index, opened on a negative note at 22516.45, our expected opening band 22590-22555-22510, on the opening move it made a day high 22625.30, further it moved down; made a day low 22513.90 and closed on a negative note at 22547.55 with intra loss 5.80 points, i.e., -0.03%.

What will happen today? 

Nifty Index: Today, we expect the Nifty may open near 22540-22585-22605 levels; if open, trade and sustain above 22610 then, the index may re-test 22625-22655-22670-22720-22750-22785-22810-22845 levels. On the other hand, the immediate support lies at 22510-22460 if, the Index moves below 22460 then, it may try to re-visit 22435-22410-22385-22345-22310 levels.

Special Mention: On Tuesday, Nifty Index continued the sell-off till our threshold support levels i.e, 22510, made a low 22513.90 and closed near 22550. Today, the Nifty index must trade, sustain and closes above 22640-24720-22785; it may continue the pull back rally to re-test 22890-23050-23235 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 22540-22585-22605 levels. 

Nifty Bank Index: On Tuesday, Nifty Bank Index opened on a positive note at 48691.20 on the opening move, it made a high 48862.15 thereafter, it moved down, made a low 48534.15 and closed on a negative note at 48608.35 with an intra loss 43.60 points, i.e., -0.09%, today Nifty Bank Index must move and sustain above 48705-48765 levels; if to do so, then it may try to re-test 48860-48950-49110-49235-49340 levels. On the other hand, any weakness near 48705-48765 further, it moves below 48535-48460 then, the Index may re-visit 48390-48280-48175-48055-47950-47845 levels. 

Sensex Index: On Tuesday, Sensex opened on a negative note at 74440.30 on the opening move, it made a day low 74400.37; thereafter, it moved up and made a high 74785.08 and closed on a positive note at 74602.12 with an intra gain 147.71 points, i.e., 0.20%, today Sensex must move and sustain above 74695-74765 levels; if to do so, then it may try to re-test 74845-74890-74990-75050-75130-75245 levels. On the other hand, any weakness near 74695-74765 further, it moves below 74545-74475 then, the Index may re-visit 74385-74295-74120-73950-73885-73740-73595 levels.

FII's & DII's Funds Flow: On Tuesday, FIIs, continued as a net seller, they sold on the net basis to the tune of Rs.3529.10 Cr. On the other hand, DIIs continued as a net buyer, they bought on the net basis to the tune of Rs.3030.78 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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