17.04.2025-Thursday, 08.55 am

Good Morning all... 

What has happened yesterday? Nifty Index, opened on a positive note at 23344.10, our expected opening band 23310-23250-23210, on the opening move it made a day low 23273.05 further it moved up; made a day high 23452.20 and closed on a positive note at 23437.20 with intra gain 108.65 points, i.e., 0.47%.

What will happen today? 

Nifty Index: Today, we expect the Nifty may open near 23395-23450-23475 levels; if open, trade and sustain above 23475 then, the index may re-test 23520-23555-23600-23630-23650-23700-23740 levels. On the other hand, the immediate support lies at 23340-23325-23275 if, the Index moves below 23275 then, it may try to re-visit 23240-23210-23170-23130-23085-23020-22950-22925 levels.

Special Mention: Yesterday, Nifty Index continued the pull back rally till our threshold resistance levels i.e., 23415, made a high 23452.20 and closed above 23415. Today, the Nifty index must trade, sustain and closes above 23415-23475; it may continue the pull back rally to re-test 23625-23870 levels. On the other hand, the immediate support seen at 23370-23245-23130, further weakness below 23130 then, the Index may try to re-visit 23050-22805-22555 levels in the near term. Let see how the Index opens today near 23395-23450-23475 levels.

Nifty Bank Index: Yesterday, Nifty Bank Index opened on a positive note at 52690.90 on the opening move, it made a low 52471.35 thereafter, it moved up, made a high 53164.45 and closed on a positive note at 53117.75 with an intra gain 738.25 points, i.e., 1.41%, today Nifty Bank Index must move and sustain above 53165-53355 levels; if to do so, then it may try to re-test 53485-53620-53755-53890-54415 levels. On the other hand, any weakness near 53165-53355 further, it moves below 53040-52820 then, the Index may re-visit 52735-52635-52470-52305-52150-51990 levels. 

Sensex Index: Yesterday, Sensex opened on a positive note at 76996.78 on the opening move, it made a day low 76543.77; thereafter, it moved up made a high 77110.23 and closed on a positive note at 77044.29 with an intra gain 309.40 points, i.e., 0.40%, today Sensex must move and sustain above 77175-77290 levels; if to do so, then it may try to re-test 77435-77540-77720-77905-78110-78325 levels. On the other hand, any weakness near 77175-77290 further, it moves below 76915-76780 then, the Index may re-visit 76700-76610-76530-76450-76175-75895-75670-75445 levels.

FII's & DII's Funds Flow: Yesterday, FIIs, continued as a net buyer, they bought on the net basis to the tune of Rs.3936.42 Cr. On the other hand, DIIs continued as a net seller they sold on the net basis to the tune of Rs.2512.77 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.

DISCLAIMER:

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.

Research Analyst Disclaimer: Registration granted by SEBI and certification from NISM in no way guarantee performance of the intermediary or provide any assurance of returns to investors.