11.03.2025-Tuesday, 08.50 am

Good Morning all... 

What has happened yesterday? Nifty Index, opened on a negative note at 22521.85, our expected opening band 22550-22520-22490, on the opening move it made a day high 22676.75, further it moved down; made a day low 22429.05 and closed on a negative note at 22460.30 with intra loss 92.20 points, i.e., -0.41%.

What will happen today? 

Nifty Index: Today, we expect the Nifty may open near 22430-22395-22360 levels; if open, trade and sustain above 22430 then, the index may re-test 22480-22520-22555-22595-22630-22675-22730 levels. On the other hand, the immediate support lies at 22320-22275 if, the Index moves below 22275 then, it may try to re-visit 22245-22185-22130-22105-22080-22050 levels.

Special Mention: Yesterday, Nifty Index continued the pull back, made a high 22676.75 and closed below our threshold support levels i.e., 22505. Today, the Nifty index must trade, sustain and closes above 22675-23730; it may continue the pull back rally to re-test 22810-22885-23050 levels. On the other hand, the immediate support seen at 22430-22320-22235, further weakness below 22235 then, the Index may try to re-visit 22130-21965-21870 levels in the near term. Let see how the Index opens today near 22430-22395-22360 levels. 

Nifty Bank Index: Yesterday, Nifty Bank Index opened on a negative note at 48312 on the opening move, it made a high 48599.15 thereafter, it moved down, made a low 48124.65 and closed on a negative note at 48216.80 with an intra loss 280.70 points, i.e., -0.58%, today Nifty Bank Index must move and sustain above 48260-48340 levels; if to do so, then it may try to re-test 48415-48500-48600-48725-48840-48970 levels. On the other hand, any weakness near 48260-48340 further, it moves below 48125-48075 then, the Index may re-visit 47995-47840-47715-47570 levels. 

Sensex Index: Yesterday, Sensex opened on a negative note at 74474.98, on the opening move, it made a day high 74741.25; thereafter, it moved down and made a low 74022.24 and closed on a negative note at 74115.17 with an intra loss 217.41 points, i.e., -0.29%, today Sensex must move and sustain above 74205-74295 levels; if to do so, then it may try to re-test 74380-74465-74530-74660-74740-74830-74935-75090 levels. On the other hand, any weakness near 74205-74295 further, it moves below 74020-73960 then, the Index may re-visit 73800-73685-73440-73285-73130-72890-72635 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.485.41 Cr. On the other hand, DIIs continued as a net buyer, they bought on the net basis to the tune of Rs.263.51 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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