07.04.2025-Monday, 08.55 am

Good Morning all... 

What has happened on Friday? Nifty Index, opened on a negative note at 23190.40, our expected opening band 23200-23140-23090, on the opening move it made a day high 23241.70, further it moved down; made a day low 22857.45 and closed on a negative note at 22904.45 with intra loss 345.65 points, i.e., -1.49%.

What will happen today? 

Nifty Index: Today, we expect the Nifty may open with gap down by tracking the global indices near 22780-22675-22315 levels; if open, trade and sustain above 22780 then, the index may re-test 22850-22920-22990-23035-23110-23215-23275-23310 levels. On the other hand, the immediate support lies at 22190-22105-21965 if, the Index moves below 21965 then, it may try to re-visit 21890-21805-21720-21640-21470-21280 levels.

Special Mention: On Friday, Nifty Index continued the sell-off till 22857.45 and closed just below our threshold support levels i.e., 22910. Today, the Nifty index must trade, sustain and closes above 23140-23245-23365; it may continue the pull back rally to re-test 23575-23870-24010 levels. On the other hand, the immediate support seen at 22795-22675, further weakness below 22675 then, the Index may try to re-visit 22560-22430-22315 levels in the near term. Let see how the Index opens today near 22780-22675-22315 levels.

Nifty Bank Index: On Friday, Nifty Bank Index opened on a negative note at 51711.60 on the opening move, it made a high 51893.60 thereafter, it moved up, made a low 51360.40 and closed on a negative note at 51502.70 with an intra loss 94.65 points, i.e., -0.18%, today Nifty Bank Index must move and sustain above 51565-51620 levels; if to do so, then it may try to re-test 51710-51830-51895-51940-52065-52160-52255 levels. On the other hand, any weakness near 51565-51620 further, it moves below 51440-51360 then, the Index may re-visit 51215-51130-50960-50785-50590-50540-49880-49370-49050 levels. 

Sensex Index: On Friday, Sensex opened on a negative note at 74160.09 on the opening move, it made a day high 76258.12; thereafter, it moved down made a low 75240.55 and closed on a negative note at 75364.69 with an intra loss 930.67 points, i.e., -1.22%, today Sensex must move and sustain above 75435-75630 levels; if to do so, then it may try to re-test 75750-75870-75960-76065-76320-76575-76785 levels. On the other hand, any weakness near 75435-75630 further, it moves below 75240-74965 then, the Index may re-visit 74810-74740-74610-74480-74340-74205-73600-73350-72630 levels.

FII's & DII's Funds Flow: On Friday, FIIs, continued as a net seller, they sold on the net basis to the tune of Rs.3483.98 Cr. On the other hand, DIIs turned as a net seller, they sold on the net basis to the tune of Rs.1720.32 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 Mar'25 released on 05th Apr'25-Friday, it moved down to 58.50 from 59.00 i.e., Feb'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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