21.04.2025-Monday, 08.55 am

Good Morning all... 

What has happened on Thursday? Nifty Index, opened on a negative note at 23401.85, our expected opening band 23395-23450-23475, on the opening move it made a day low 23298.55 further it moved up; made a day high 23872.35 and closed on a positive note at 23851.5 with intra gain 414.45 points, i.e., 1.77%.

What will happen today? 

Nifty Index: Today, we expect the Nifty may open near 23905-23870-23785 levels; if open, trade and sustain above 23905 then, the index may re-test 23945-23990-24030-24070-24120-25155-24190-24225 levels. On the other hand, the immediate support lies at 23750-24705 if, the Index moves below 23705 then, it may try to re-visit 23655-23585-23545-2352023485-23430-23405-23370-23335-23300-23250 levels.

Special Mention: On Thursday, Nifty Index continued the pull back rally till our threshold resistance levels i.e., 23870, made a high 23872.35 and closed above 23600. Today, the Nifty index must trade, sustain and closes above 23870-23945; it may continue the pull back rally to re-test 24010-24190-24225 levels. On the other hand, the immediate support seen at 23600-23450-23300, further weakness below 23300 then, the Index may try to re-visit 23060-22805 levels in the near term. Let see how the Index opens today near 23905-23870-23785 levels.

Nifty Bank Index: On Thursday, Nifty Bank Index opened on a positive note at 53153.75 on the opening move, it made a low 53084.90 thereafter, it moved up, made a high 54407.20 and closed on a positive note at 54290.20 with an intra gain 1172.45 points, i.e., 2.21%, today Nifty Bank Index must move and sustain above 54405-54065 levels; if to do so, then it may try to re-test 54240-54330-54415-54590-54680-54765 levels. On the other hand, any weakness near 54405-54065 further, it moves below 54180-52820 then, the Index may re-visit 54020-53900-53750-53550-53285 levels. 

Sensex Index: On Thursday, Sensex opened on a negative note at 76968.02 on the opening move, it made a day low 76665.77; thereafter, it moved up made a high 78616.77 and closed on a positive note at 78553.20 with an intra gain 1508.91 points, i.e., 1.96%, today Sensex must move and sustain above 78615-78740 levels; if to do so, then it may try to re-test 78950-79125-79340-79555-79700-79985 levels. On the other hand, any weakness near 78615-78740 further, it moves below 78400-78200 then, the Index may re-visit 780458-77825-77700-77580-77410-77335-77185 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.4667.94 Cr. On the other hand, DIIs continued as a net seller they sold on the net basis to the tune of Rs.2006.15 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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