25.03.2025-Tuesday, 08.50 am

Good Morning all... 

What has happened yesterday? Nifty Index, opened on a negative note at 23515.40, our expected opening band 23345-23410-23445 , on the opening move it made a day low 23433.50, further it moved up; made a day high 23708.75 and closed on a positive note at 23658.35 with intra gain 309.75 points, i.e., 1.32%.

What will happen today? 

Nifty Index: Today, we expect the Nifty may open near 23660-23710-23745 levels; if open, trade and sustain above 23610 then, the index may re-test 23785-23805-23840-23880-23905 levels. On the other hand, the immediate support lies at 23615-23570 if, the Index moves below 23570 then, it may try to re-visit 23540-23500-23465-23435-23405-23360 levels.

Special Mention: Yesterday, Nifty Index continued the pull back move, made a high 23708.95 and closed above our threshold support levels i.e., 23410. Today, the Nifty index must trade, sustain and closes above 23710-23750-23805; it may continue the pull back rally to re-test 23880-24010 levels. On the other hand, the immediate support seen at 23550-23410-23300, further weakness below 23300 then, the Index may try to re-visit 23175-23010-22850 levels in the near term. Let see how the Index opens today near 23660-23710-23745 levels. 

Nifty Bank Index: Yesterday, Nifty Bank Index opened on a positive note at 50982.10 on the opening move, it made a low 50795.90 thereafter, it moved up, made a high 51801.15 and closed on a positive note at 51704.95 with an intra gain 1111.40 points, i.e., 2.20%, today Nifty Bank Index must move and sustain above 51800-51940 levels; if to do so, then it may try to re-test 52075-52200-52320-52340-52565-52670 levels. On the other hand, any weakness near 51800-51940 further, it moves below 51625-51505 then, the Index may re-visit 51415-51330-51180-51035-50925-50795 levels. 

Sensex Index: Yesterday, Sensex opened on a positive note at 77456.27 on the opening move, it made a day low 77179.35; thereafter, it moved up and made a high 78107.23 and closed on a positive note at 77984.38 with an intra gain 1078.87 points, i.e., 1.40%, today Sensex must move and sustain above 78105-78230 levels; if to do so, then it may try to re-test 78360-78460-78570-78735-78850 levels. On the other hand, any weakness near 78105-78230 further, it moves below 77840-77750 then, the Index may re-visit 77640-77535-77400-77290-77180-76965-76925 levels.

FII's & DII's Funds Flow: Yesterday, FIIs, continued as a net buyer, they bought on the net basis to the tune of Rs.3055.76 Cr. On the other hand, DIIs continued as a net seller, they sold on the net basis to the tune of Rs.98.54 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.

Research Analyst Disclaimer: Registration granted by SEBI and certification from NISM in no way guarantee performance of the intermediary or provide any assurance of returns to investors.