10.03.2025-Monday, 08.50 am

Good Morning all... 

What has happened on Friday? Nifty Index, opened on a negative note at 22508.65, our expected opening band 22555-22525-22490, on the opening move it made a day low 22464.75, further it moved up; made a day high 22633.80 and closed on a positive note at 22552.50 with intra gain 7.80 points, i.e., 0.03%.

What will happen today? 

Nifty Index: Today, we expect the Nifty may open near 22550-22520-22490 levels; if open, trade and sustain above 22550 then, the index may re-test 22585-22610-22635-22680-22730-22775 levels. On the other hand, the immediate support lies at 22465-22435 if, the Index moves below 22435 then, it may try to re-visit 22405-22365-22330-22300-22260-22220 levels.

Special Mention: On Friday, Nifty Index continued the pull back, made a high 22633.80 and closed above 22505. Today, the Nifty index must trade, sustain and closes above 22625-22670; it may continue the pull back rally to re-test 22730-22885-23050 levels. On the other hand, the immediate support seen at 22435-22300-22245, further weakness below 22245 then, the Index may try to re-visit 22120-21965-21870 levels in the near term. Let see how the Index opens today near 22550-22520-22490 levels. 

Nifty Bank Index: On Friday, Nifty Bank Index opened on a negative note at 48463.80 on the opening move, it made a low 48359.36 thereafter, it moved up, made a high 48709.05 and closed on a negative note at 48497.50 with an intra loss 130.20 points, i.e., -0.27%, today Nifty Bank Index must move and sustain above 48535-48610 levels; if to do so, then it may try to re-test 48710-48840-48970-49075-49240-49405-49570 levels. On the other hand, any weakness near 48535-48610 further, it moves below 48280-48220 then, the Index may re-visit 48075-47960-47840-47715-47570 levels. 

Sensex Index: On Friday, Sensex opened on a positive note at 74347.14, on the opening move, it made a day low 74038.03; thereafter, it moved up and made a high 74586.43 and closed on a negative note at 74332.58 with an intra loss 7.51 points, i.e., -0.01%, today Sensex must move and sustain above 74380-74515-74585 levels; if to do so, then it may try to re-test 74655-74735-74835-74995-75170 levels. On the other hand, any weakness near 74380-74515-74585 further, it moves below 74255-74165 then, the Index may re-visit 74100-74040-73890-73840-73725-73610-73495-73380-73235-73095 levels.

FII's & DII's Funds Flow: On Friday, FIIs, continued as a net seller, they sold on the net basis to the tune of Rs.2035.10 Cr. On the other hand, DIIs continued as a net buyer, they bought on the net basis to the tune of Rs.2320.36 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.

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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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