18.03.2025-Tuesday, 08.50 am

Good Morning all... 

What has happened yesterday? Nifty Index, opened on a negative note at 22353.15, our expected opening band 22400-22455-22495, on the opening move it made a day low 22353.15, further it moved up; made a day high 22577 and closed on a positive note at 22508.75 with intra gain 111.55 points, i.e., 0.50%.

What will happen today? 

Nifty Index: Today, we expect the Nifty may open near 22530-22570-22600 levels; if open, trade and sustain above 22600 then, the index may re-test 22635-22675-22730-22775-22815 levels. On the other hand, the immediate support lies at 22495-22440 if, the Index moves below 22440 then, it may try to re-visit 22405-22360-22315-22275-22245-22185-22135-22105 levels.

Special Mention: Yesterday, Nifty Index unable to continue the pull back above 22676.75 for the fourth consecutive trading session, made a low 22353.15 and closed below our threshold support levels i.e., 22495. 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 22530-22570-22600 levels. 

Nifty Bank Index: Yesterday, Nifty Bank Index opened on a positive note at 48219.55 on the opening move, it made a low 48196.10 thereafter, it moved up, made a high 48481.35 and closed on a positive note at 48354.15 with an intra gain 293.75 points, i.e., 0.61%, today Nifty Bank Index must move and sustain above 48395-48450-48480 levels; if to do so, then it may try to re-test 48555-48595-48650-48710-48840-48970 levels. On the other hand, any weakness near 48395-48450-48480 further, it moves below 48285-48195 then, the Index may re-visit 48120-48055-47970-47835-47705 levels. 

Sensex Index: Yesterday, Sensex opened on a positive note at 73830.03, on the opening move, it made a day low 73796.06; thereafter, it moved up and made a high 74376.35 and closed on a positive note at 74169.95 with an intra gain 341.04 points, i.e., 0.46%, today Sensex must move and sustain above 74235-74375 levels; if to do so, then it may try to re-test 74395-74535-74610-74740-74830-74925-75090-75250 levels. On the other hand, any weakness near 74235-74375 further, it moves below 74085-73975 then, the Index may re-visit 73930-73865-73795-73685-73560-73440-73285-73130-73020-72880 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.4488.45 Cr. On the other hand, DIIs continued as a net buyer, they bought on the net basis to the tune of Rs.6000.60 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 Feb'25 released on 17th Mar'25-Monday, it has gone up to 2.38% as against the Jan'25 level i.e.,2.31%.

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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