24.03.2025-Monday, 08.50 am

Good Morning all... 

What has happened on Friday? Nifty Index, opened on a negative note at 23168.25, our expected opening band 23215-22165-22145, on the opening move it made a day low 23132.80, further it moved up; made a day high 23402.70 and closed on a positive note at 23350.40 with intra gain 159.75 points, i.e., 0.69%.

What will happen today? 

Nifty Index: Today, we expect the Nifty may open near 23345-23410-23445 levels; if open, trade and sustain above 23445 then, the index may re-test 23475-23505-23540-23580-23600-23620 levels. On the other hand, the immediate support lies at 23325-23275 if, the Index moves below 23275 then, it may try to re-visit 23250-23225-23170-23125-23095-23060-23040 levels.

Special Mention: On Friday, Nifty Index continued the pull back move, made a high 23402.70 and closed above our threshold support levels i.e., 23265. Today, the Nifty index must trade, sustain and closes above 23350-23410-23475; it may continue the pull back rally to re-test 23610-23805 levels. On the other hand, the immediate support seen at 23155-23080-22975, further weakness below 22975 then, the Index may try to re-visit 22675-22315 levels in the near term. Let see how the Index opens today near 23345-23410-23445 levels. 

Nifty Bank Index: On Friday, Nifty Bank Index opened on a negative note at 49927.10 on the opening move, it made a low 49891.95 thereafter, it moved up, made a high 50672.15 and closed on a positive note at 50593.55 with an intra gain 530.70 points, i.e., 1.06%, today Nifty Bank Index must move and sustain above 50670-50795 levels; if to do so, then it may try to re-test 50885-51020-51160-51305-51525 levels. On the other hand, any weakness near 50505-50440 further, it moves below 50335-50270 then, the Index may re-visit 50185-50035-49920-49890-49800-49680 levels. 

Sensex Index: On Friday, Sensex opened on a negative note at 76155, on the opening move, it made a day low 76095.26; thereafter, it moved up and made a high 77041.94 and closed on a positive note at 76905.51 with an intra gain 557.45 points, i.e., 0.73%, today Sensex must move and sustain above 77040-77190 levels; if to do so, then it may try to re-test 77300-77430-77580-77735-77900-78040 levels. On the other hand, any weakness near 77040-77190 further, it moves below 76840-76630 then, the Index may re-visit 76475-76305-76170-76095-76030-75840-75725-75520 levels.

FII's & DII's Funds Flow: On Friday, FIIs, continued as a net buyer, they bought on the net basis to the tune of Rs.7469.86 Cr. On the other hand, DIIs continued as a net seller, they sold on the net basis to the tune of Rs.3202.26 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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