19.03.2025-Wednesday, 08.50 am

Good Morning all... 

What has happened yesterday? Nifty Index, opened on a positive note at 22662.25, our expected opening band 22530-22570-22600, on the opening move it made a day low 22599.20, further it moved up; made a day high 22857.80 and closed on a positive note at 22834.30 with intra gain 325.55 points, i.e., 1.45%.

What will happen today? 

Nifty Index: Today, we expect the Nifty may open near 22885-22855-22780 levels; if open, trade and sustain above 22600 then, the index may re-test 22925-22955-22980-23015-23050 levels. On the other hand, the immediate support lies at 22740-22700 if, the Index moves below 22700 then, it may try to re-visit 22675-22650-22620-22595-22550-22525-22480 levels.

Special Mention: Yesterday, Nifty Index continued the pull back move above 22676.75, made a high 22857.80 and closed below our threshold support levels i.e., 22730. Today, the Nifty index must trade, sustain and closes above 22855-22885; it may continue the pull back rally to re-test 22980-23050-23300 levels. On the other hand, the immediate support seen at 22675-22415-22315, further weakness below 22315 then, the Index may try to re-visit 21965-21870 levels in the near term. Let see how the Index opens today near 22885-22855-22780 levels. 

Nifty Bank Index: Yesterday, Nifty Bank Index opened on a positive note at 48792.90 on the opening move, it made a low 48629.45 thereafter, it moved up, made a high 49400.30 and closed on a positive note at 49314.50 with an intra gain 960.35 points, i.e., 1.99%, today Nifty Bank Index must move and sustain above 49400-49570 levels; if to do so, then it may try to re-test 49610-49695-49820-49930-50040 levels. On the other hand, any weakness near 49400-49570 further, it moves below 49225-49110 then, the Index may re-visit 49015-48925-48810-48720-48630-48485 levels. 

Sensex Index: Yesterday, Sensex opened on a positive note at 74608.66, on the opening move, it made a day low 74480.15; thereafter, it moved up and made a high 75385.76 and closed on a positive note at 75301.26 with an intra gain 1131.31 points, i.e., 1.53%, today Sensex must move and sustain above 75385-75510 levels; if to do so, then it may try to re-test 75630-75685-75800-75920-76045 levels. On the other hand, any weakness near 75385-75510 further, it moves below 75190-75095 then, the Index may re-visit 74930-74825-74760-74690-74585-74480 levels.

FII's & DII's Funds Flow: Yesterday, FIIs, turned as a net buyer, they bought on the net basis to the tune of Rs.694.57 Cr. On the other hand, DIIs continued as a net buyer, they bought on the net basis to the tune of Rs.2534.75 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.

DISCLAIMER:

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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