03.03.2025-Monday, 08.50 am

Good Morning all... 

What has happened on Friday? Nifty Index, opened on a negative note at 22433.40, our expected opening band 22540-22500-22460, on the opening move it made a day high 22450.35, further it moved down; made a day low 22104.85 and closed on a negative note at 22124.70 with intra loss 420.35 points, i.e., -1.86%.

What will happen today? 

Nifty Index: Today, we expect the Nifty may open near 22160-22200-22235 levels; if open, trade and sustain above 22235 then, the index may re-test 22265-22300-22335-22365-22400-22450-22510-22545 levels. On the other hand, the immediate support lies at 22105-22070 if, the Index moves below 22070 then, it may try to re-visit 22035-22010-21975-21935-21900-21870 levels.

Special Mention: On Friday, Nifty Index continued the sell-off below our threshold support levels i.e, 22460, made a low 22104.85 and closed below 22460. Today, the Nifty index must trade, sustain and closes above 22460-22785; it may continue the pull back rally to re-test 22890-23050 levels. On the other hand, the immediate support seen at 22070-21870, further weakness below 21870 then, the Index may try to re-visit 22575-21280 levels in the near term. Let see how the Index opens today near 22160-22200-22235 levels. 

Nifty Bank Index: On Friday, Nifty Bank Index opened on a negative note at 48437.55 on the opening move, it made a high 48574.50 thereafter, it moved down, made a low 48078.70 and closed on a negative note at 48344.70 with an intra loss  399.10 points, i.e., 0.82%, today Nifty Bank Index must move and sustain above 48500-48575-48625 levels; if to do so, then it may try to re-test 48710-48780-48870-48970-49040 levels. On the other hand, any weakness near 48500-48575-48625 further, it moves below 48270-48195 then, the Index may re-visit 48080-47950-47840-47745-47650 levels. 

Sensex Index: On Friday, Sensex opened on a negative note at 74201.77, on the opening move, it made a day high 74282.43; thereafter, it moved down and made a low 73141.27 and closed on a negative note at 73198.10 with an intra loss 1414.33 points, i.e., 1.90%, today Sensex must move and sustain above 73290-73425 levels; if to do so, then it may try to re-test 73510-73590-73720-73850-73910-74140-74280-74375 levels. On the other hand, any weakness near 73290-73245 further, it moves below 73160-72890 then, the Index may re-visit 72755-72495-72360-72230-72095 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 Q3 ending Dec'24 released on 28th Feb'25-Friday, the GDP has moved up to 6.20% Vs.5.60% (Q2-Sep'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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