04.04.2025-Friday, 08.45 am

Good Morning all... 

What has happened yesterday? Nifty Index, opened on a negative note at 23150.30, our expected opening band 23290-23220-23160, on the opening move it made a day low 23145.80, further it moved up; made a day high 23306.50 and closed on a negative note at 23250.10 with intra loss 82.25 points, i.e., -0.35%.

What will happen today? 

Nifty Index: Today, we expect the Nifty may open near 23200-23140-23090 levels; if open, trade and sustain above 23200 then, the index may re-test 23240-23280-23310-23350-23380-23410-23475 levels. On the other hand, the immediate support lies at 23030-23000-22975 if, the Index moves below 22975 then, it may try to re-visit 22945-22910-22875-22835-22785-22745-22705-22675 levels.

Special Mention: Yesterday, Nifty Index traded with consolidation move for the second trading session, not broken the important support levels i.e., 23136.40 and closed above our threshold support levels i.e., 23220. Today, the Nifty index must trade, sustain and closes above 23310-23460-23650; it may continue the pull back rally to re-test 23870-24010 levels. On the other hand, the immediate support seen at 23090-22910, further weakness below 22910 then, the Index may try to re-visit 22795-22675-22560 levels in the near term. Let see how the Index opens today near 23200-23140-23090 levels.

Nifty Bank Index: Yesterday, Nifty Bank Index opened on a negative note at 50910 on the opening move, it made a low 50906.65 thereafter, it moved up, made a high 51661.60 and closed on a positive note at 51597.35 with an intra gain 249.30 points, i.e., 0.49%, today Nifty Bank Index must move and sustain above 51660-51780 levels; if to do so, then it may try to re-test 51865-51940-52065-52180-52300-52420 levels. On the other hand, any weakness near 51660-51780 further, it moves below 51525-51440 then, the Index may re-visit 51370-51245-51195-51055-50905-50840-50740 levels. 

Sensex Index: Yesterday, Sensex opened on a negative note at 75811.86 on the opening move, it made a day low 75807.55; thereafter, it moved up and made a high 76493.74 and closed on a negative note at 76295.36 with an intra loss 322.08 points, i.e., -0.42%, today Sensex must move and sustain above 76375-76495 levels; if to do so, then it may try to re-test 76580-76880-76990-77160-77325-77485-77660-77910 levels. On the other hand, any weakness near 76375-76495 further, it moves below 76230-76150 then, the Index may re-visit 76070-75970-75885-75805-75560 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.2806 Cr. On the other hand, DIIs continued as a net buyer, they bought on the net basis to the tune of Rs.221.47 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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