03.04.2025-Thursday, 08.45 am

Good Morning all... 

What has happened yesterday? Nifty Index, opened on a positive note at 23192.60, our expected opening band 23180-23135-23095, on the opening move it made a day low 23158.45, further it moved up; made a day high 23350 and closed on a positive note at 23332.65 with intra gain 166.65 points, i.e., 0.72%.

What will happen today? 

Nifty Index: Today, we expect the Nifty may open near 23290-23220-23160 levels; if open, trade and sustain above 23290 then, the index may re-test 23315-23350-23385-23415-23460-23505-23535-23565 levels. On the other hand, the immediate support lies at 23135-23030 if, the Index moves below 23030 then, it may try to re-visit 22995-22955-22915-22875-22835-22795-22745-22695-22675 levels.

Special Mention: Yesterday, Nifty Index traded with consolidation move, not broken the previous day high or low levels and closed above our threshold support levels 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 23290-23220-23160 levels.

Nifty Bank Index: Yesterday, Nifty Bank Index opened on a positive note at 50966.90 on the opening move, it made a low 50908.35 thereafter, it moved up, made a high 51404.20 and closed on a positive note at 51348.05 with an intra gain 520.55 points, i.e., 1.02%, today Nifty Bank Index must move and sustain above 51405-51560 levels; if to do so, then it may try to re-test 51675-51780-51940-52065 levels. On the other hand, any weakness near 51405-51560 further, it moves below 51260-51205-51155 then, the Index may re-visit 51095-51025-50910-50740-50690-50485-50400-50270-50140 levels. 

Sensex Index: Yesterday, Sensex opened on a positive note at 76146.28 on the opening move, it made a day low 76064.94; thereafter, it moved up and made a high 76680.35 and closed on a positive note at 76617.44 with an intra gain 592.93 points, i.e., 0.78%, today Sensex must move and sustain above 76680-76845-76990 levels; if to do so, then it may try to re-test 77160-77325-77485-77660-77910 levels. On the other hand, any weakness near 76680-76845-76990 further, it moves below 76500-76340 then, the Index may re-visit 76210-76135-76065-75865-75560 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.1538.88 Cr. On the other hand, DIIs continued as a net buyer, they bought on the net basis to the tune of Rs.2808.83 Cr. 

INDIA's Macro Data:-

On 02nd Apr'25-Wednesday, the HSBC Manufacturing PMI data for the month of Mar'25 released, it moved up to 58.10 from 56.30 i.e., Feb'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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