17.03.2025-Monday, 08.50 am

Good Morning all... 

What has happened on Thursday? Nifty Index, opened on a positive note at 22541.50, our expected opening band 22440-22470-22495, on the opening move it made a day high 22558.05, further it moved down; made a day low 22377.35 and closed on a negative note at 22397.20 with intra loss 73.30 points, i.e., -0.33%.

What will happen today? 

Nifty Index: Today, we expect the Nifty may open near 22400-22455-22495 levels; if open, trade and sustain above 22495 then, the index may re-test 22525-22555-22575-22600-22635-22675-22730-22775 levels. On the other hand, the immediate support lies at 22375-22350 if, the Index moves below 22350 then, it may try to re-visit 22315-22275-22245-22185-22135-22105 levels.

Special Mention: On Thursday, Nifty Index unable to continue the pull back above 22676.75 for the third trading session, made an inside day pattern i.e., not broken the previous day high or low levels and closed below 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 22400-22455-22495 levels. 

Nifty Bank Index: Yesterday, Nifty Bank Index opened on a positive note at 48219.15 on the opening move, it made a high 48352.45 thereafter, it moved down, made a low 48064.75 and closed on a positive note at 48060.40 with an intra gain 3.75 points, i.e., 0.01%, today Nifty Bank Index must move and sustain above 48135-48200 levels; if to do so, then it may try to re-test 48270-48350-48405-48505-48595-48650-48730-48840-48970 levels. On the other hand, any weakness near 48135-48200 further, it moves below 48000-47835 then, the Index may re-visit 47700-47570-47460-47330-47200-47070 levels. 

Sensex Index: On Thursday, Sensex opened on a positive note at 74392.54, on the opening move, it made a day high 74401.11; thereafter, it moved down and made a low 73770.59 and closed on a negative note at 73828.91 with an intra loss 200.85 points, i.e., -0.27%, today Sensex must move and sustain above 73935-74035 levels; if to do so, then it may try to re-test 74125-74215-74330-74400-74545-74610-74740-74830-74925-75090 levels. On the other hand, any weakness near 73935-74035 further, it moves below 73770-73690 then, the Index may re-visit 73560-73440-73285-73130-73020-72880 levels.

FII's & DII's Funds Flow: On Thursday, FIIs, continued as a net seller, they sold on the net basis to the tune of Rs.792.90 Cr. On the other hand, DIIs continued as a net buyer, they bought on the net basis to the tune of Rs.1723.82 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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