27.03.2025-Thursday, 08.50 am

Good Morning all... 

What has happened yesterday? Nifty Index, opened on a positive note at 23700.95, our expected opening band 23630-22660-22705, on the opening move it made a day high 23736.50, further it moved down; made a day low 23451.70 and closed on a negative note at 23486.85 with intra loss 181.80 points, i.e., -0.77%.

What will happen today? 

Nifty Index: Today, we expect the Nifty may open near 23415-23475-23520 levels; if open, trade and sustain above 23705 then, the index may re-test 23560-23595-23625-23655-23705-23735-23770-23805-23840-23870 levels. On the other hand, the immediate support lies at 23400-23375-23345 if, the Index moves below 23345 then, it may try to re-visit 23310-23275-23225-22180-22130 levels.

Special Mention: Yesterday, Nifty Index unable to the pull back move beyond 23869.60, the brief intra sell-off with consolidation move dragged the index till 23451.70 and closed below our threshold support levels i.e., 23600. Today, the Nifty index must trade, sustain and closes above 23600-23805-23870; it may continue the pull back rally to re-test 24010-24120-24240 levels. On the other hand, the immediate support seen at 23405-23310, 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 23415-23475-23520 levels. 

Nifty Bank Index: Yesterday, Nifty Bank Index opened on a positive note at 51640.05 on the opening move, it made a high 51875.80 thereafter, it moved down, made a low 51069.15 and closed on a negative note at 51209 with an intra loss 398.95 points, i.e., -0.77%, today Nifty Bank Index must move and sustain above 51245-51375 levels; if to do so, then it may try to re-test 51470-51565-51640-51705-51780-51875-52060 levels. On the other hand, any weakness near 51245-51375 further, it moves below 51165-51070 then, the Index may re-visit 50960-50850-50785-50590-50400-50270-50140 levels. 

Sensex Index: Yesterday, Sensex opened on a positive note at 78021.45 on the opening move, it made a day high 78167.87; thereafter, it moved down and made a low 77194.22 and closed on a negative note at 77288.50 with an intra gain 728.69 points, i.e., -0.93%, today Sensex must move and sustain above 77425-77540 levels; if to do so, then it may try to re-test 77680-77795-77880-77960-78055-78165-78300-78430 levels. On the other hand, any weakness near 77425-77540 further, it moves below 77195-77005 then, the Index may re-visit 76930-76775-76525-76470-76320-76170 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.2240.55 Cr. On the other hand, DIIs continued as a net seller, they sold on the net basis to the tune of Rs.696.37 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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