08.04.2025-Tuesday, 08.55 am

Good Morning all... 

What has happened yesterday? Nifty Index, opened on a negative note with gap down at 21758.40, our expected opening band 22780-22675-22315, on the opening move it made a day low 21743.65, further it moved up; made a day high 22254 and closed on a negative note at 22164.60 with intra loss 739.85 points, i.e., -3.23%.

What will happen today? 

Nifty Index: Today, we expect the Nifty may open near 22255-22350-22400 levels; if open, trade and sustain above 22400 then, the index may re-test 22485-22555-22620-22650-22675-22880-23005 levels. On the other hand, the immediate support lies at 22195-22145 if, the Index moves below 22145 then, it may try to re-visit 22105-21965-21940-21900-21865-21805-21765 levels.

Special Mention: Yesterday, Nifty Index continued the sell-off, dragged the index till 21743.65 and closed above our threshold support levels i.e., 21965. Today, the Nifty index must trade, sustain and closes above 22315-22430-22675; it may continue the pull back rally to re-test 22800-23350-23870 levels. On the other hand, the immediate support seen at 21745-21450, further weakness below 21450 then, the Index may try to re-visit 21280-21135-20600 levels in the near term. Let see how the Index opens today near 22255-22350-22400 levels.

Nifty Bank Index: Yesterday, Nifty Bank Index opened on a negative note at 49336.10 on the opening move, it made a low 49156.95 thereafter, it moved up, made a high 50426.25 and closed on a negative note at 49860.10 with an intra loss 1642.60 points, i.e., -3.19%, today Nifty Bank Index must move and sustain above 49940-50055 levels; if to do so, then it may try to re-test 50200-50360-50425-50525-50685-50770-50850-50970-51090 levels. On the other hand, any weakness near 49940-50055 further, it moves below 49790-49640 then, the Index may re-visit 49490-49305-49155-49050-48810 levels. 

Sensex Index: Yesterday, Sensex opened on a negative note at 71449.95 on the opening move, it made a day low 71425.01; thereafter, it moved up made a high 73403.99 and closed on a negative note at 73137.90 with an intra loss 2226.79 points, i.e., -2.95%, today Sensex must move and sustain above 73400-73740 levels; if to do so, then it may try to re-test 73950-74050-74200-74360-74410-74670-74900-75140 levels. On the other hand, any weakness near 73400-73740 further, it moves below 72980-72825 then, the Index may re-visit 72650-72545-72425-72300-72180-72035-71890-71660-71425 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.9040.01 Cr. On the other hand, DIIs turned as a net buyer, they bought on the net basis to the tune of Rs.12122.45 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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