12.03.2025-Wednesday, 08.50 am

Good Morning all... 

What has happened yesterday? Nifty Index, opened on a negative note at 22345.95, our expected opening band 22430-22395-22360, on the opening move it made a day low 22314.70, further it moved up; made a day high 22522.10 and closed on a positive note at 22497.30 with intra gain 37.60 points, i.e., 0.17%.

What will happen today? 

Nifty Index: Today, we expect the Nifty may open near 22495-22470-22450 levels; if open, trade and sustain above 22495 then, the index may re-test 22520-22555-22575-22595-22630-22675-22730 levels. On the other hand, the immediate support lies at 22405-22360 if, the Index moves below 22360 then, it may try to re-visit 22320-22280-22240-22185-22135 levels.

Special Mention: Yesterday, Nifty Index unable to continue the pull back above 22676.75, the brief intra sell-off dragged till 22314.70 and closed above our threshold support levels i.e., 22470. 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 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 22495-22465-22450 levels. 

Nifty Bank Index: Yesterday, Nifty Bank Index opened on a negative note at 47874.80 on the opening move, it made a low 47702.90 thereafter, it moved up, made a high 48029.05 and closed on a negative note at 47853.95 with an intra loss 362.85 points, i.e., -0.75%, today Nifty Bank Index must move and sustain above 47865-47935 levels; if to do so, then it may try to re-test 48030-48135-48270-48400-48505-48640-48730-48840 levels. On the other hand, any weakness near 47865-47935 further, it moves below 47785-47700 then, the Index may re-visit 47570-47460-47330-47200-47070 levels. 

Sensex Index: Yesterday, Sensex opened on a negative note at 73743.88, on the opening move, it made a day low 73663.60; thereafter, it moved up and made a high 74195.17 and closed on a negative note at 74102.32 with an intra loss 12.85 points, i.e., -0.02%, today Sensex must move and sustain above 74195-74290 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 74195-74290 further, it moves below 74040-73960 then, the Index may re-visit 73865-73790-73665-76520-73440-73285-73130 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.2823.76 Cr. On the other hand, DIIs continued as a net buyer, they bought on the net basis to the tune of Rs.2001.79 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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