28.02.2025-Friday, 08.50 am

Good Morning all... 

What has happened yesterday? Nifty Index, opened on a positive note at 22568.95, our expected opening band 22540-22585-22605, on the opening move it made a day high 22613.30, further it moved down; made a day low 22508.40 and closed on a negative note at 22545.05 with intra loss 2.50 points, i.e., -0.01%.

What will happen today? 

Nifty Index: Today, we expect the Nifty may open near 22540-22500-22460 levels; if open, trade and sustain above 22545 then, the index may re-test 22560-22585-22610-22640-22680-22725 levels. On the other hand, the immediate support lies at 22460-22430 if, the Index moves below 22430 then, it may try to re-visit 22395-22345-22310-22275-22245-22215-22180 levels.

Special Mention: Yesterday, Nifty Index continued the sell-off till our threshold support levels i.e, 22510, made a low 22508.40 and closed below 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 22545-22500-22460 levels. 

Nifty Bank Index: Yesterday, Nifty Bank Index opened on a positive note at 48732.20 on the opening move, it made a high 48972.55 thereafter, it moved down, made a low 48627.10 and closed on a positive note at 48743.80 with an intra gain  135.45 points, i.e., 0.28%, today Nifty Bank Index must move and sustain above 48760-48840 levels; if to do so, then it may try to re-test 48910-49065-49115-49235-49340 levels. On the other hand, any weakness near 48760-48765 further, it moves below 48710-48665-48630 then, the Index may re-visit 48520-48440-48360-48280-48175-48055-47950-47845 levels. 

Sensex Index: Yesterday, Sensex opened on a positive note at 74706.60, on the opening move, it made a day high 74834.09; thereafter, it moved down and made a low 74520.78 and closed on a positive note at 74612.43 with an intra gain 10.31 points, i.e., 0.01%, today Sensex must move and sustain above 74690-74740 levels; if to do so, then it may try to re-test 74835-74920-74990-75050-75130-75245 levels. On the other hand, any weakness near 74690-74740 further, it moves below 74520-74435 then, the Index may re-visit 74385-74295-74120-73950-73885-73740-73595-73450 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.556.56 Cr. On the other hand, DIIs continued as a net buyer, they bought on the net basis to the tune of Rs.1727.11 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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