30.04.2025-Wednesday, 08.55 am

Good Morning all... 

What has happened yesterday? Nifty Index, opened on a positive note at 24370.70, our expected opening band 24330-24360-24395, on the opening move it made a day low 24290.75 further it moved up; made a day high 24457.65 and closed on a positive note at 24335.95 with intra gain 7.45 points, i.e., 0.03%.

What will happen today? 

Nifty Index: Today, we expect the Nifty may open near 24310-24280-24210 levels; if open, trade and sustain above 24310 then, the index may re-test 24355-24375-24410-24435-24455-24505-24550-24600 levels. On the other hand, the immediate support lies at 24155-24120 if, the Index moves below 24120 then, it may try to re-visit 24080-24050-23990-23955-23920-23890-23860 levels.

Special Mention: Yesterday, Nifty Index unable to continue the pull back rally beyond our threshold resistance levels i.e., 24365, made a high 24457.65 and closed below support levels i.e., 24365. Today, the Nifty index must trade, sustain and closes above 24365-24435; it may continue the pull back rally to re-test 24545-24855-24950 levels. On the other hand, the immediate support seen at 24050-23870, further weakness below 23870 then, the Index may try to re-visit 23600-23490-23270 levels in the near term. Let see how the Index opens today near 24310-24280-24210 levels.

Nifty Bank Index: Yesterday, Nifty Bank Index opened on a positive note at 55524.35 on the opening move, it made a low 55288.25 thereafter, it moved up, made a high 55957.75 and closed on a negative note at 55391.25 with an intra loss 41.55 points, i.e., -0.07%, today Nifty Bank Index must move and sustain above 55425-55525 levels; if to do so, then it may try to test 55610-55755-55850-55955-56100-56230-56360-56490 levels. On the other hand, any weakness near 55425-55525 further, it moves below 55260-55135 then, the Index may re-visit 55070-54910-54910-54770-54630-54515-54400 levels. 

Sensex Index: Yesterday, Sensex opened on a positive note at 80396.92 on the opening move, it made a day low 80122.02; thereafter, it moved up and made a high 80661.31 and closed on a positive note at 80288.38 with an intra gain 70.01 points, i.e., 0.09%, today Sensex must move and sustain above 80330-80450 levels; if to do so, then it may try to re-test 80545-80660-80705-80810-80885-80980-81080 levels. On the other hand, any weakness near 80330-80450 further, it moves below 80215-80120 then, the Index may re-visit 80060-79975-79875-79755-79635-79510-79390-79240-79090 levels.

FII's & DII's Funds Flow: Yestrerday, FIIs, continued as a net buyer, they bought on the net basis to the tune of Rs.2385.61 Cr. On the other hand, DIIs continued as a net buyer they bought on the net basis to the tune of Rs.1369.19 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.

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