13.03.2025-Thursday, 08.50 am

Good Morning all... 

What has happened yesterday? Nifty Index, opened on a positive note at 22536.35, our expected opening band 22495-22470-22450, on the opening move it made a day high 22577.40, further it moved down; made a day low 22329.55 and closed on a negative note at 22497.30 with intra loss 27.40 points, i.e., -0.12%.

What will happen today? 

Nifty Index: Today, we expect the Nifty may open near 22440-22470-22495 levels; if open, trade and sustain above 22495 then, the index may re-test 22525-22555-22575-22595-22635-22675-22730 levels. On the other hand, the immediate support lies at 22425-22400 if, the Index moves below 22400 then, it may try to re-visit 22360-22330-22275-22240-22185-22135 levels.

Special Mention: Yesterday, Nifty Index unable to continue the pull back above 22676.75 for the second trading session, the brief intra sell-off dragged till 22329.55 and closed just near our threshold support levels i.e., 22470. Today, the Nifty index must trade, sustain and closes above 22575-22675-23730; 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 22440-22470-22495 levels. 

Nifty Bank Index: Yesterday, Nifty Bank Index opened on a positive note at 47894.40 on the opening move, it made a high 48222.15 thereafter, it moved down, made a low 47844.95 and closed on a negative note at 48056.65 with an intra gain 202.70 points, i.e., 0.42%, today Nifty Bank Index must move and sustain above 48150-48220 levels; if to do so, then it may try to re-test 48270-48325-48405-48505-48595-48650-48730-48840-48970 levels. On the other hand, any weakness near 48150-48220 further, it moves below 47980-47845 then, the Index may re-visit 47700-47570-47460-47330-47200-47070 levels. 

Sensex Index: Yesterday, Sensex opened on a negative note at 74270.81, on the opening move, it made a day high 74392.15; thereafter, it moved down and made a low 73598.16 and closed on a negative note at 74029.76 with an intra loss 72.56 points, i.e., -0.10%, today Sensex must move and sustain above 74130-74220 levels; if to do so, then it may try to re-test 74300-74390-74485-74530-74610-74740-74830-74925-75090 levels. On the other hand, any weakness near 74130-74220 further, it moves below 73955-73900 then, the Index may re-visit 73785-73690-73520-73440-73285-73130 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.1627.61 Cr. On the other hand, DIIs continued as a net buyer, they bought on the net basis to the tune of Rs.1510.35 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 Jan'25 released on 12th Mar'25-Wednesday, the Industrial production has gone up to 5%; when compared to the Dec'24 level, i.e., 3.50%. 

Annual Inflation data for Feb'25 released on 12th Mar'25-Wednesday, the inflation has come down to 3.61% from Jan'25 level i.e., 4.26%.

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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