06.03.2025-Thursday, 08.50 am

Good Morning all... 

What has happened yesterday? Nifty Index, opened on a negative note at 22073.05, our expected opening band 22105-22065-22035, on the opening move it made a day low 22067.80, further it moved up; made a day high 22394.90 and closed on a positive note at 22337.30 with intra gain 254.65 points, i.e., 1.15%.

What will happen today? 

Nifty Index: Today, we expect the Nifty may open near 22290-22355-22395 levels; if open, trade and sustain above 22395 then, the index may re-test 22430-22480-22505-22540-22570-22625 levels. On the other hand, the immediate support lies at 22260-22230 if, the Index moves below 22230 then, it may try to re-visit 22205-22180-22145-22120-22105-22065-22015 levels.

Special Mention: Yesterday, Nifty Index unable to continue the sell-off, as expected the pull back lifted the index till 22394.90 and closed above 22300. Today, the Nifty index must trade, sustain and closes above 22395-22505; it may continue the pull back rally to re-test 22625-22785-23050 levels. On the other hand, the immediate support seen at 22180-22065-21965, further weakness below 21965 then, the Index may try to re-visit 21575-21280 levels in the near term. Let see how the Index opens today near 22290-22355-22395 levels. 

Nifty Bank Index: Yesterday, Nifty Bank Index opened on a negative note at 48241.30 on the opening move, it made a low 48190.25 thereafter, it moved up, made a high 48657.65 and closed on a positive note at 48489.95 with an intra gain 244.75 points, i.e., 0.51%, today Nifty Bank Index must move and sustain above 48545-48655 levels; if to do so, then it may try to re-test 48785-48875-48970-49075 levels. On the other hand, any weakness near 48545-48655 further, it moves below 48390-48250 then, the Index may re-visit 48190-48065-47935-47840-47755-47650-47500 levels. 

Sensex Index: Yesterday, Sensex opened on a positive note at 73005.37, on the opening move, it made a day low 72894.05; thereafter, it moved up and made a high 73933.80 and closed on a positive note at 73730.23 with an intra gain 740.90 points, i.e., 1.02%, today Sensex must move and sustain above 73780-73930 levels; if to do so, then it may try to re-test 73995-74140-74215-74360-74470-74580-74835 levels. On the other hand, any weakness near 73780-73930 further, it moves below 73580-73435 then, the Index may re-visit 73285-73130-72940-72895-72785-72635 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.2895.04 Cr. On the other hand, DIIs continued as a net buyer, they bought on the net basis to the tune of Rs.3370.60 Cr. 

INDIA's Macro Data:-

On 03rd Mar'25-Monday, the HSBC Manufacturing PMI data for the month of Feb'25 released, it moved down to 56.30 from 57.70 i.e., Jan'25. Likewise, the HSBC Services PMI data for the month of Feb'25 released on 05th Mar'25-Wednesday, it moved up to 59.00 from 56.50 i.e., Jan'25.

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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