02.04.2025-Wednesday, 08.50 am

Good Morning all... 

What has happened yesterday? Nifty Index, opened on a negative note at 23341.10, our expected opening band 23495-23450-23415, on the opening move it made a day high 23565.15, further it moved down; made a day low 23136.40 and closed on a negative note at 23165.70 with intra loss  353.65 points, i.e., -1.50%.

What will happen today? 

Nifty Index: Today, we expect the Nifty may open near 23180-23135-23095 levels; if open, trade and sustain above 23180 then, the index may re-test 23215-23245-23275-23310-23360-23415-23460-23500-23535-23565 levels. On the other hand, the immediate support lies at 23050-23030-22995 if, the Index moves below 22995 then, it may try to re-visit 22970-22940-22915-22875-22835-22795 levels.

Special Mention: Yesterday, Nifty Index unable to continued the upward move, broken the threshold support levels i.e, 23405, the intra sell-off dragged the index till 23136.40 and closed below 23310 levels. Today, the Nifty index must trade, sustain and closes above 23460-23650; it may continue the pull back rally to re-test 23870-24010 levels. On the other hand, the immediate support seen at 23090-22915, further weakness below 22915 then, the Index may try to re-visit 22795-22675-22560 levels in the near term. Let see how the Index opens today near 23180-23135-23095 levels. -

Nifty Bank Index: Yesterday, Nifty Bank Index opened on a negative note at 51178.15 on the opening move, it made a high 51683.85 thereafter, it moved down, made a low 50742 and closed on a negative note at 50827.50 with an intra loss 737.35 points, i.e., -1.43%, today Nifty Bank Index must move and sustain above 50960-51150 levels; if to do so, then it may try to re-test 51245-51400-51555-51680-51780-51940 levels. On the other hand, any weakness near 50960-1150 further, it moves below 50740-50640 then, the Index may re-visit 50590-50785-50690-50485-50400-50270-50140 levels. 

Sensex Index: Yesterday, Sensex opened on a negative note at 76882.58 on the opening move, it made a day high 77487.05; thereafter, it moved down and made a low 75912.18 and closed on a negative note at 76024.51 with an intra gain 1390.41 points, i.e., -1.80%, today Sensex must move and sustain above 76310-76510 levels; if to do so, then it may try to re-test 76580-76785-76990-77160-77325-77485 levels. On the other hand, any weakness near 76310-76510 further, it moves below 75910-75865-75560 then, the Index may re-visit 75485-75335-75185-74990-74800 levels.

FII's & DII's Funds Flow: Yesterday, FIIs, continued as a net seller, they sold on the net basis to the tune of Rs.5901.63 Cr. On the other hand, DIIs continued as a net buyer, they bought on the net basis to the tune of Rs.4322.58 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%. Next RBI MPC Policy meet will be held on 09th Apr-Wednesday.

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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