26.03.2025-Wednesday, 08.50 am

Good Morning all... 

What has happened yesterday? Nifty Index, opened on a positive note at 23751.50, our expected opening band 23660-23710-23745, on the opening move it made a day high 23869.60, further it moved down; made a day low 23601.40 and closed on a positive note at 23668.65 with intra gain 10.30 points, i.e., 0.04%.

What will happen today? 

Nifty Index: Today, we expect the Nifty may open near 23630-22660-22705 levels; if open, trade and sustain above 23705 then, the index may re-test 23745-23790-23805-23840-23870-23905-23940 levels. On the other hand, the immediate support lies at 23600-23560 if, the Index moves below 23560 then, it may try to re-visit 23530-23500-23475-23445-23415-23375-23345 levels.

Special Mention: Yesterday, Nifty Index continued the pull back move, made a high 23869.60, the brief intra sell-off with consolidation move dragged the index till 23627.55 and closed below our threshold support levels i.e., 23710. Today, the Nifty index must trade, sustain and closes above 23805-24010; it may continue the pull back rally to re-test 24120-24240 levels. On the other hand, the immediate support seen at 23540-23415-23310, further weakness below 23310 then, the Index may try to re-visit 23175-23090-22910 levels in the near term. Let see how the Index opens today near    levels. 

Nifty Bank Index: Yesterday, Nifty Bank Index opened on a positive note at 51874.20 on the opening move, it made a high 52063.95 thereafter, it moved down, made a low 51429.60 and closed on a negative note at 51607.95 with an intra loss 97 points, i.e., -0.19%, today Nifty Bank Index must move and sustain above 51670-51785 levels; if to do so, then it may try to re-test 51875-51990-52065-52200-52320-52440-52565 levels. On the other hand, any weakness near 51670-51785 further, it moves below 51565-51430 then, the Index may re-visit 51345-51260-51130-50960-50785 levels. 

Sensex Index: Yesterday, Sensex opened on a positive note at 78296.28 on the opening move, it made a day high 78741.69; thereafter, it moved down and made a low 77745.63 and closed on a positive note at 78017.19 with an intra gain 32.81 points, i.e., 0.04%, today Sensex must move and sustain above 78125-78215 levels; if to do so, then it may try to re-test 78360-78450-78570-78735-78850-79050 levels. On the other hand, any weakness near 78125-78215 further, it moves below 77900-77745 then, the Index may re-visit 77640-77535-77475-77435-77235-77005-76775 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.5371.57 Cr. On the other hand, DIIs continued as a net seller, they sold on the net basis to the tune of Rs.2768.87 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.

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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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