11.04.2025-Friday, 08.55 am

Good Morning all... 

What has happened on Wednesday? Nifty Index, opened on a negative note at 22460.30, our expected opening band 22460-22415-22350, on the opening move it made a day low 22353.25, further it moved up; made a day high 22468.70 and closed on a negative note at 22399.15 with intra loss 136.70 points, i.e., -0.61%.

What will happen today? 

Nifty Index: Today, we expect the Nifty may open near 22500-22575-22650 levels; if open, trade and sustain above 22650 then, the index may re-test 22675-22675-22735-22805-22880-22940-23305 levels. On the other hand, the immediate support lies at 22390-22355 if, the Index moves below 22355 then, it may try to re-visit 22320-22280-22245-22195-22140 levels.

Special Mention: Wednesday, Nifty Index unable to continue the sell-off, traded with consolidation move, made an inside day pattern i.e., not broken the previous day high or low levels and  closed above our threshold support levels i.e., 22355. Today, the Nifty index must trade, sustain and closes above 22500-22675-22805; 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 22500-22575-22650 levels.

Nifty Bank Index: Yesterday, Nifty Bank Index opened on a negative note at 50487.10 on the opening move, it made a low 49910.85 thereafter, it moved up, made a high 50496.90 and closed on a negative note at 50240.15 with an intra loss 270.85 points, i.e., -0.54%, today Nifty Bank Index must move and sustain above 50525-50660-50850 levels; if to do so, then it may try to re-test 50970-51090-51200-51305-51445-51580-51895 levels. On the other hand, any weakness near 50525-50660-50850 further, it moves below 50180-49910 then, the Index may re-visit 49825-49750-49650-49480-49155 levels. 

Sensex Index: Yesterday, Sensex opened on a negative note at 74103.83 on the opening move, it made a day high 74103.83; thereafter, it moved down made a low 73673.06 and closed on a negative note at 73847.15 with an intra loss 379.93 points, i.e., -0.51%, today Sensex must move and sustain above 74220-74465-74860 levels; if to do so, then it may try to re-test 75140-75250-75345-75555-75695-75820-76080-76400-76680 levels. On the other hand, any weakness near 74220-74465-74860 further, it moves below 73800-73675 then, the Index may re-visit 73555-73345-73140-72940-72735 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.4358.02 Cr. On the other hand, DIIs continued as a net buyer, they bought on the net basis to the tune of Rs.2976.66 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 09th Feb'25-Wednesday, the MPC has reduced the Repo rate to 6.00% from the existing rate of 6.25% and it has maintained the CRR-Cash Reserve Ratio at 4%. 

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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