24.04.2025-Thursday, 08.55 am

Good Morning all... 

What has happened yesterday? Nifty Index, opened on a positive note at 24357.60, our expected opening band 24240-24280-24345, on the opening move it made a day high 24359.30 further it moved down; made a day low 24119.95 and closed on a positive note at 24328.95 with intra gain 161.70 points, i.e., 0.67%.

What will happen today? 

Nifty Index: Today, we expect the Nifty may open near 24345-24280-24230 levels; if open, trade and sustain above 24345 then, the index may re-test 24360-24400-24425-24460-24500-24545-24590-24635 levels. On the other hand, the immediate support lies at 24175-24120 if, the Index moves below 24120 then, it may try to re-visit 24060-24020-23970-23930-23870 levels.

Special Mention: Yesterday, Nifty Index continued the pull back rally till our threshold resistance levels i.e., 24350, made a high 24359.30, the intra brief sell-off dragged till 24120 and closed above our threshold support levels i.e.,24250. Today, the Nifty index must trade, sustain and closes above 24350-24445; it may continue the pull back rally to re-test 24545-24855-24950 levels. On the other hand, the immediate support seen at 24120-23870-23600, further weakness below 23600 then, the Index may try to re-visit 23490-23270 levels in the near term. Let see how the Index opens today near 24345-24280-24230 levels.

Nifty Bank Index: Yesterday, Nifty Bank Index opened on a positive note at 56097.10 on the opening move, it made a high 56098.70 thereafter, it moved down, made a low 55162.50 and closed on a negative note at 55370.05 with an intra loss 277.15 points, i.e., -0.50%, today Nifty Bank Index must move and sustain above 55445-55520 levels; if to do so, then it may try to test 55630-55825-55990-56100-56265-56350 levels. On the other hand, any weakness near 55445-55520 further, it moves below 55300-55160 then, the Index may re-visit 55010-54900-54845-54675-54530-54405-54285 levels. 

Sensex Index: Yesterday, Sensex opened on a positive note at 80142.09 on the opening move, it made a day high 80254.55; thereafter, it moved down and made a low 79506.90 and closed on a positive note at 80116.49 with an intra gain 520.90 points, i.e., 0.65%, today Sensex must move and sustain above 80165-80255-80455 levels; if to do so, then it may try to re-test 80570-80720-80870-81075-81230-81385 levels. On the other hand, any weakness near 80165-80255-80455 further, it moves below 79980-79795 then, the Index may re-visit 79685-79595-79505-79435-79300-79135-78965 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.3332.93 Cr. On the other hand, DIIs continued as a net seller they sold on the net basis to the tune of Rs.1235.46 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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