07.03.2025-Friday, 08.50 am

Good Morning all... 

What has happened yesterday? Nifty Index, opened on a positive note at 22476.35, our expected opening band 22290-22355-22395, on the opening move it made a day low 22245.85, further it moved up; made a day high 22556.45 and closed on a positive note at 22544.70 with intra gain 207.40 points, i.e., 0.93%.

What will happen today? 

Nifty Index: Today, we expect the Nifty may open near 22555-22525-22490 levels; if open, trade and sustain above 22555 then, the index may re-test 22585-22625-22655-22685-22730 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 22400-22365-22330-22295-22250-22215 levels.

Special Mention: Yesterday, Nifty Index continued the pull back, made a high 22556.45 and closed above 22505. Today, the Nifty index must trade, sustain and closes above 22555-22625; it may continue the pull back rally to re-test 22785-23050 levels. On the other hand, the immediate support seen at 22380-22190, further weakness below 22190 then, the Index may try to re-visit 21965-21870 levels in the near term. Let see how the Index opens today near  22555-22525-22490 levels. 

Nifty Bank Index: Yesterday, Nifty Bank Index opened on a positive note at 48760 on the opening move, it made a low 48299.40 thereafter, it moved up, made a high 48839.10 and closed on a positive note at 48627.70 with an intra gain 137.75 points, i.e., 0.28%, today Nifty Bank Index must move and sustain above 48680-48725-48775 levels; if to do so, then it may try to re-test 48840-48970-49075-49240-49405-49570 levels. On the other hand, any weakness near 48680-48725-48775 further, it moves below 48590-48505 then, the Index may re-visit 48425-48300-48220-48450-48075-47960-47840 levels. 

Sensex Index: Yesterday, Sensex opened on a positive note at 74308.30, on the opening move, it made a day low 73415.68; thereafter, it moved up and made a high 74390.80 and closed on a positive note at 74340.09 with an intra gain 609.86 points, i.e., 0.83%, today Sensex must move and sustain above 74390-74475 levels; if to do so, then it may try to re-test 74580-74655-74835-74995-75170 levels. On the other hand, any weakness near 74390-74475 further, it moves below 74280-74165 then, the Index may re-visit 74105-73875-73790-73615-73510-73415-73305-73175 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.2377.52 Cr. On the other hand, DIIs continued as a net buyer, they bought on the net basis to the tune of Rs.1617.80 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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