16.04.2025-Wednesday, 08.55 am

Good Morning all... 

What has happened yesterday? Nifty Index, opened on a positive note at 23368.35, our expected opening band 22880-22920-22940, on the opening move it made a day high 23368.35 further it moved down; made a day low 23207 and closed on a positive note at 23328.55 with intra gain 500 points, i.e., 2.19%.

What will happen today? 

Nifty Index: Today, we expect the Nifty may open near 23310-23250-23210 levels; if open, trade and sustain above 23310 then, the index may re-test 23335-23365-23415-23445-23480-23520 levels. On the other hand, the immediate support lies at 23150-23110 if, the Index moves below 23110 then, it may try to re-visit 23070-23025-22980-22920-22830-22860 levels.

Special Mention: Yesterday, Nifty Index continued the pull back rally till our threshold resistance levels i.e., 23350, made a high 23368.35 and closed above our threshold support levels i.e., 23250. Today, the Nifty index must trade, sustain and closes above 23350-23415; it may continue the pull back rally to re-test 23600-23870 levels. On the other hand, the immediate support seen at 23165-22890, further weakness below 22890 then, the Index may try to re-visit 22745-22555-22355 levels in the near term. Let see how the Index opens today near 23310-23250-23210 levels.

Nifty Bank Index: Yesterday, Nifty Bank Index opened on a positive note at 52299 on the opening move, it made a low 51863.30 thereafter, it moved up, made a high 52486.35 and closed on a positive note at 52379.50 with an intra gain 1377.15 points, i.e., 2.70%, today Nifty Bank Index must move and sustain above 52485-52655 levels; if to do so, then it may try to re-test 52750-52855-53020-53180-53355 levels. On the other hand, any weakness near 52485-52655 further, it moves below 52325-52175 then, the Index may re-visit 52100-51940-51775-51695-51640-51510-51360-51215 levels. 

Sensex Index: Yesterday, Sensex opened on a positive note at 76852.06 on the opening move, it made a day low 76435.07; thereafter, it moved up made a gain 76907.63 and closed on a positive note at 76734.89 with an intra gain 1577.63 points, i.e., 2.10%, today Sensex must move and sustain above 76770-76835-76905 levels; if to do so, then it may try to re-test 77035-77175-77350-77540-77720-77905 levels. On the other hand, any weakness near 76770-76835-76905 further, it moves below 76680-76545 then, the Index may re-visit 76435-76310-76010-75735-75520-75300 levels.

FII's & DII's Funds Flow: Yesterday, FIIs, turned as a net buyer, they bought on the net basis to the tune of Rs.6065-78 Cr. On the other hand, DIIs turned as a net seller they sold on the net basis to the tune of Rs.1951.60 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 Apr'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 Feb'25 released on 11th Apr'25-Friday, the Industrial production has come down to 2.90%; when compared to the Jan'25 level, i.e., 5.20%. 

Annual Inflation data for Mar'25 released on 15th Apr'25-Tuesday, the inflation has come down to 3.34% from Feb'25 level i.e., 3.61%.

WPI Inflation data for the month of Mar'25 released on 15th Apr'25-Tuesday, it has come down to 2.05% as against the Feb'25 level i.e.,2.38%.

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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