20.03.2025-Thursday, 08.50 am

Good Morning all... 

What has happened yesterday? Nifty Index, opened on a positive note at 22874.95, our expected opening band 22885-22855-22780, on the opening move it made a day low 22807.95, further it moved up; made a day high 22940.70 and closed on a positive note at 22907.80 with intra gain 73.30 points, i.e., 0.32%.

What will happen today? 

Nifty Index: Today, we expect the Nifty may open near 22925-22885-22855 levels; if open, trade and sustain above 22925 then, the index may re-test 22955-22980-23015-23050-23100 levels. On the other hand, the immediate support lies at 22805-22770 if, the Index moves below 22770 then, it may try to re-visit 22755-22730-22700-22675-22625-22590-22555 levels.

Special Mention: Yesterday, Nifty Index continued the pull back move, made a high 22940.70 and closed above our threshold support levels i.e., 22760. Today, the Nifty index must trade, sustain and closes above 22885-22940; 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 22925-22885-22855 levels. 

Nifty Bank Index: Yesterday, Nifty Bank Index opened on a positive note at 49374.40 on the opening move, it made a low 49324.80 thereafter, it moved up, made a high 49807.55 and closed on a positive note at 49702.60 with an intra gain 388.10 points, i.e., 0.79%, today Nifty Bank Index must move and sustain above 49805-49940 levels; if to do so, then it may try to re-test 50040-50180-50320-50480-50640 levels. On the other hand, any weakness near 49805-49940 further, it moves below 49670-49570 then, the Index may re-visit 49510-49460-49325-49275-49190-49000 levels. 

Sensex Index: Yesterday, Sensex opened on a positive note at 75473.17, on the opening move, it made a day low 75201.48; thereafter, it moved up and made a high 75568.38 and closed on a positive note at 75449.05 with an intra gain 147.79 points, i.e., 0.20%, today Sensex must move and sustain above 75570-75670 levels; if to do so, then it may try to re-test 75800-75920-76045-76265-76405-76540-76675 levels. On the other hand, any weakness near 75570-75670 further, it moves below 75395-75350 then, the Index may re-visit 75200-75100-74990-74815-74700-74580 levels.

FII's & DII's Funds Flow: Yesterday, FIIs, turned as a net seller, they sold on the net basis to the tune of Rs.1096.50 Cr. On the other hand, DIIs continued as a net buyer, they bought on the net basis to the tune of Rs.2140.76 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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