05.03.2025-Wednesday, 08.50 am

Good Morning all... 

What has happened yesterday? Nifty Index, opened on a negative note at 21974.45, our expected opening band 22100-22070-22000, on the opening move it made a day low 21964.60, further it moved up; made a day high 22105.05 and closed on a negative note at 22082.65 with intra loss 36.65 points, i.e., -0.17%.

What will happen today? 

Nifty Index: Today, we expect the Nifty may open near 22105-22065-22035 levels; if open, trade and sustain above 22105 then, the index may re-test 22140-22170-22215-22260-22315-21350-21390 levels. On the other hand, the immediate support lies at 21965-21925-21870 if, the Index moves below 21870 then, it may try to re-visit 21820-21795-21755-21720-21655-21610 levels.

Special Mention: Yesterday, Nifty Index continued the sell-off continuously for the last ten trading sessions, made a low 21964.60 and closed just above our threshold support levels i.e., 22070. Today, the Nifty index must trade, sustain and closes above 22240-22315; it may continue the pull back rally to re-test 22625-22785-22950 levels. On the other hand, the immediate support seen at 22005-21965-21870, further weakness below 21870 then, the Index may try to re-visit 21575-21280 levels in the near term. Let see how the Index opens today near 22105-22065-22035 levels. 

Nifty Bank Index: Yesterday, Nifty Bank Index opened on a negative note at 47942.50 on the opening move, it made a low 47924.75 thereafter, it moved up, made a high 48374.90 and closed on a positive note at 48245.20 with an intra gain 130.90 points, i.e., 0.27%, today Nifty Bank Index must move and sustain above 48275-48375 levels; if to do so, then it may try to re-test 48405-48495-48575-48670-48775-48875-48970 levels. On the other hand, any weakness near 48275-48375 further, it moves below 48170-48095 then, the Index may re-visit 48030-47925-47840-47755-47650-47500-47360-47210-47065 levels. 

Sensex Index: Yesterday, Sensex opened on a negative note at 72817.34, on the opening move, it made a day low 72633.54; thereafter, it moved up and made a high 73033.18 and closed on a negative note at 72989.33 with an intra loss 96.61 points, i.e., -0.13%, today Sensex must move and sustain above 73035-73070 levels; if to do so, then it may try to re-test 73140-73260-73380-73505-73650-73765-73885-74140-74270 levels. On the other hand, any weakness near 73035-73070 further, it moves below 72845-72785 then, the Index may re-visit 72730-72635-72495-72360-72230-72095 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.3405.82 Cr. On the other hand, DIIs continued as a net buyer, they bought on the net basis to the tune of Rs.4851.43 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.

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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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