23.04.2025-Wednesday, 08.55 am

Good Morning all... 

What has happened yesterday? Nifty Index, opened on a positive note at 24185.40, our expected opening band 24105-24130-24190, on the opening move it made a day low 24072 further it moved up; made a day high 24242.60 and closed on a positive note at 24167.25 with intra gain 41.70 points, i.e., 0.17%.

What will happen today? 

Nifty Index: Today, we expect the Nifty may open near 24240-24280-24345 levels; if open, trade and sustain above 24345 then, the index may re-test 24380-24410-24450-24500-24545-24600 levels. On the other hand, the immediate support lies at 24070-23945 if, the Index moves below 23945 then, it may try to re-visit 23920-23900-23880-23810-23785-23730-23670 levels.

Special Mention: Yesterday, Nifty Index continued the pull back rally beyond our threshold resistance levels i.e., 24225, made a high 24242.60 and closed above our threshold support levels i.e.,24150. 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 24240-24280-24345 levels.

Nifty Bank Index: Yesterday, Nifty Bank Index opened on a positive note at 55414.30 on the opening move, it made a low 55243.55 thereafter, it moved up, made a high 55961.20 and closed on a positive note at 55647.20 with an intra gain 342.70 points, i.e., 0.62%, today Nifty Bank Index must move and sustain above 55750-55820 levels; if to do so, then it may try to test 55960-56060-56155-56235-56320 levels. On the other hand, any weakness near 55750-55820 further, it moves below 55560-55520-55470 then, the Index may re-visit 55410-55330-55245-55165-55070-54980-54825 levels. 

Sensex Index: Yesterday, Sensex opened on a positive note at 79728.39 on the opening move, it made a day low 79253.44; thereafter, it moved up made a high 79824.30 and closed on a positive note at 79595.59 with an intra gain 187.09 points, i.e., 0.24%, today Sensex must move and sustain above 79680-79825 levels; if to do so, then it may try to re-test 79900-79985-80130-80275-80420-80570 levels. On the other hand, any weakness near 79680-79825 further, it moves below 79500-79390 then, the Index may re-visit 79255-79100-78990-78860-78720-78570-78380-78185 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.1290.43 Cr. On the other hand, DIIs continued as a net seller they sold on the net basis to the tune of Rs.885.63 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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