09.04.2025-Wednesday, 08.55 am

Good Morning all... 

What has happened yesterday? Nifty Index, opened on a positive note at 22446.75, our expected opening band 22255-22350-22400, on the opening move it made a day low 22270.85, further it moved up; made a day high 22697.20 and closed on a positive note at 22535.85 with intra gain 374.25 points, i.e., 1.69%.

What will happen today? 

Nifty Index: Today, we expect the Nifty may open near 22460-22415-22350 levels; if open, trade and sustain above 22460 then, the index may re-test 22485-22535-22595-22650-22675-22695-22735 levels. On the other hand, the immediate support lies at 22300-22270-22245 if, the Index moves below 22245 then, it may try to re-visit 22195-22155-22105-22075-22040-22010-21945-21910 levels.

Special Mention: Yesterday, Nifty Index unable to continue the sell-off, the intra pull back lifted the Index till 22697.20 and closed just below our threshold support levels i.e., 22555. Today, the Nifty index must trade, sustain and closes above 22675-22810; it may continue the pull back rally to re-test 22930-23055-23350 levels. On the other hand, the immediate support seen at 22245-21995, further weakness below 21995 then, the Index may try to re-visit 21745-21510-21280 levels in the near term. Let see how the Index opens today near 22460-22415-22350 levels.

Nifty Bank Index: Yesterday, Nifty Bank Index opened on a positive note at 50388.55 on the opening move, it made a low 50030.80 thereafter, it moved up, made a high 50793.70 and closed on a positive note at 50511 with an intra gain 650.90 points, i.e., 1.31%, today Nifty Bank Index must move and sustain above 50570-50675 levels; if to do so, then it may try to re-test 50795-50850-50970-51090-51200-51305-51445-51580 levels. On the other hand, any weakness near 50570-50675 further, it moves below 50410-50320 then, the Index may re-visit 50210-50120-50030-49825-49650-49480 levels. 

Sensex Index: Yesterday, Sensex opened on a positive note at 74013.73 on the opening move, it made a day low 73424.92; thereafter, it moved up made a high 74859.39 and closed on a positive note at 74227.08 with an intra gain 1089.18 points, i.e., 1.49%, today Sensex must move and sustain above 74310-74440 levels; if to do so, then it may try to re-test 74550-74695-74860-75000-75140-75250-75345-75555-75695-75820 levels. On the other hand, any weakness near 74310-74440 further, it moves below 74140-74030 then, the Index may re-visit 73970-73855-73765-73595-7342572650-72545-72425-72300-72180-72035-71890-71660-71425 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.4994.24 Cr. On the other hand, DIIs continued as a net buyer, they bought on the net basis to the tune of Rs.3097.24 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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