21.03.2025-Friday, 08.50 am

Good Morning all... 

What has happened yesterday? Nifty Index, opened on a positive note at 23036.60, our expected opening band 22925-22885-22855, on the opening move it made a day low 22973.95, further it moved up; made a day high 23216.70 and closed on a positive note at 23190.65 with intra gain 283.05 points, i.e., 1.24%.

What will happen today? 

Nifty Index: Today, we expect the Nifty may open near 23215-22165-22145 levels; if open, trade and sustain above 23215 then, the index may re-test 23245-23265-23300-23340 levels. On the other hand, the immediate support lies at 23115-23080-23050 if, the Index moves below 23050 then, it may try to re-visit 23020-22975-22950-22910-22870-22820 levels.

Special Mention: Yesterday, Nifty Index continued the pull back move, made a high 23216.70 and closed above our threshold support levels i.e., 23050. Today, the Nifty index must trade, sustain and closes above 23185-23235-23265; it may continue the pull back rally to re-test 23340-23410 levels. On the other hand, the immediate support seen at 22950-22850, further weakness below 22850 then, the Index may try to re-visit 22765-22650-22315 levels in the near term. Let see how the Index opens today near 23215-22165-22145 levels. 

Nifty Bank Index: Yesterday, Nifty Bank Index opened on a positive note at 49947.60 on the opening move, it made a low 49771.65 thereafter, it moved up, made a high 50155.30 and closed on a positive note at 50062.85 with an intra gain 360.25 points, i.e., 0.72%, today Nifty Bank Index must move and sustain above 50155-50260 levels; if to do so, then it may try to re-test 50310-50425-50640-50800 levels. On the other hand, any weakness near 50155-50260 further, it moves below 49985-49920-49875 then, the Index may re-visit 49770-49630-49435-49330-49220 levels. 

Sensex Index: Yesterday, Sensex opened on a positive note at 75917.11, on the opening move, it made a day low 75684.58; thereafter, it moved up and made a high 76456.25 and closed on a positive note at 76348.06 with an intra gain 899.01 points, i.e., 1.19%, today Sensex must move and sustain above 76455-76590 levels; if to do so, then it may try to re-test 76665-76800-76945 levels. On the other hand, any weakness near 76455-76590 further, it moves below 76275-76130 then, the Index may re-visit 75980-75845-75845-75685-75620-75580-75475 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.3239.14 Cr. On the other hand, DIIs turned as a net seller, they sold on the net basis to the tune of Rs.3136.02 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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