22.04.2025-Tuesday, 08.55 am

Good Morning all... 

What has happened yesterday? Nifty Index, opened on a positive note at 23949.15, our expected opening band 23905-23870-23785, on the opening move it made a day low 23903.65 further it moved up; made a day high 24189.55 and closed on a positive note at 24125.55 with intra gain 273.90 points, i.e., 1.15%.

What will happen today? 

Nifty Index: Today, we expect the Nifty may open near 24105-24130-24190 levels; if open, trade and sustain above 24190 then, the index may re-test 24225-24275-24305-24345-24380-24410 levels. On the other hand, the immediate support lies at 24085-24040 if, the Index moves below 24040 then, it may try to re-visit 23995-23955-23920-23900-23880-23840-23785-23730 levels.

Special Mention: Yesterday, Nifty Index continued the pull back rally beyond our threshold resistance levels i.e., 23870, made a fresh high 24189.55 and closed above our threshold support levels i.e.,23945. Today, the Nifty index must trade, sustain and closes above 24190-24225-24275; it may continue the pull back rally to re-test 24350-24545-24855 levels. On the other hand, the immediate support seen at 23870-23730-23625, further weakness below 23625 then, the Index may try to re-visit 23490-23270 levels in the near term. Let see how the Index opens today near 24105-24130-24190 levels.

Nifty Bank Index: Yesterday, Nifty Bank Index opened on a positive note at 54891.25 on the opening move, it made a low 54674.95 thereafter, it moved up, made a high 55461.65 and closed on a positive note at 55304.50 with an intra gain 1014.30 points, i.e., 1.87%, today Nifty Bank Index must move and sustain above 55370-55460 levels; if to do so, then it may try to test 55550-55675-55760-55855-55945 levels. On the other hand, any weakness near 55370-55460 further, it moves below 55230-55160-55070 then, the Index may re-visit 54870-54690-54550-54405-54250-54090 levels. 

Sensex Index: Yesterday, Sensex opened on a positive note at 78903.09 on the opening move, it made a day low 78776.06; thereafter, it moved up made a high 79635.05 and closed on a positive note at 79408.50 with an intra gain 855.30 points, i.e., 1.09%, today Sensex must move and sustain above 79450-79565-79635 levels; if to do so, then it may try to re-test 79700-79870-79985-80130-80275-80420-80570 levels. On the other hand, any weakness near 79450-79565-79635 further, it moves below 79355-79280-79205 then, the Index may re-visit 79105-78980-78775-78730-78590-78455 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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