28.04.2025-Monday, 08.55 am

Good Morning all... 

What has happened on Friday? Nifty Index, opened on a positive note at 24289, our expected opening band 24275-24310-24350, on the opening move it made a day high 24365.45 further it moved down; made a day low 23847.85 and closed on a negative note at 24039.35 with intra loss 207.25 points, i.e., -0.86%.

What will happen today? 

Nifty Index: Today, we expect the Nifty may open near 24045-24100-24150 levels; if open, trade and sustain above 24150 then, the index may re-test 24190-24210-24255-24280-24305-24335-24365-22410 levels. On the other hand, the immediate support lies at 24005-23970 if, the Index moves below 23970 then, it may try to re-visit 23930-23910-23870-23845-23805-23750-23710-23685-23645-23600 levels.

Special Mention: On Friday, Nifty Index unable to continue the pull back rally beyond our threshold resistance levels i.e., 24350, the intra sell-off dragged tiil our threshold support levels i.e., 23860, made a low 23847.85 and closed above just below the long term support levels (200 DMA)  i.e, 24050. Today, the Nifty index must trade, sustain and closes above 24215-24360; it may continue the pull back rally to re-test 24545-24855-24950 levels. On the other hand, the immediate support seen at 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             levels.

Nifty Bank Index: On Friday, Nifty Bank Index opened on a positive note at 55233.55 on the opening move, it made a high 55350.55 thereafter, it moved down, made a low 54176.45 and closed on a negative note at 55664.05 with an intra loss 462.65 points, i.e., -0.84%, today Nifty Bank Index must move and sustain above 54785-54910 levels; if to do so, then it may try to test 55135-55250-55350-55455-55535-55670-55780-55880 levels. On the other hand, any weakness near 54785-54910 further, it moves below 54535-54340 then, the Index may re-visit 54175-54065-53950-53860-53755 levels. 

Sensex Index: On Friday, Sensex opened on a positive note at 79830.15 on the opening move, it made a day high 80130.66; thereafter, it moved down and made a low 78605.81 and closed on a negative note at 79212.53 with an intra loss 588.90 points, i.e., -0.74%, today Sensex must move and sustain above 79365-79430-79570 levels; if to do so, then it may try to re-test 79625-79770-79900-80065-80130-80335-80545 levels. On the other hand, any weakness near 79365-79430-79570 further, it moves below 79185-79065 then, the Index may re-visit 78965-78785-78605-78475-78345 levels.

FII's & DII's Funds Flow: On Friday, FIIs, continued as a net buyer, they bought on the net basis to the tune of Rs.2952.33 Cr. On the other hand, DIIs turned as a net buyer they bought on the net basis to the tune of Rs.3539.85 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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