29.04.2025-Tuesday, 08.55 am

Good Morning all... 

What has happened yesterday? Nifty Index, opened on a positive note at 24070.25, our expected opening band 24045-24100-24150, on the opening move it made a day low 24054.05 further it moved up; made a day high 24355.10 and closed on a positive note at 24355.10 with intra gain 289.15 points, i.e., 1.20%.

What will happen today? 

Nifty Index: Today, we expect the Nifty may open near 24330-24360-24395 levels; if open, trade and sustain above 24395 then, the index may re-test 24435-24470-24505-24550-24600-24645-24690 levels. On the other hand, the immediate support lies at 24290-24260 if, the Index moves below 23260 then, it may try to re-visit 24215-24170-24125-24090-24050 levels.

Special Mention: Yesterday, Nifty Index unable to continue the pull back rally beyond our threshold resistance levels i.e., 24350, the index made an inside day pattern i.e., not broken the previous trading session hgh or low point and closed above well above the long term support levels (200 DMA)  i.e., 24050. 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 24330-24360-24395 levels.

Nifty Bank Index: Yesterday, Nifty Bank Index opened on a negative note at 54610.30 on the opening move, it made a low 54282.35 thereafter, it moved up, made a high 55577.40 and closed on a positive note at 55432.80 with an intra gain 768.75 points, i.e., 1.41%, today Nifty Bank Index must move and sustain above 55490-55575  levels; if to do so, then it may try to test 55610-55780-55850-55975-56100-56230-56360-56490 levels. On the other hand, any weakness near 55490-55575 further, it moves below 55315-55200 then, the Index may re-visit 55135-55080-54960-54910-54820-54700-54585-54505 levels. 

Sensex Index: Yesterday, Sensex opened on a positive note at 79343.63 on the opening move, it made a day low 79341.35; thereafter, it moved up and made a high 80321.68 and closed on a positive note at 80218.37 with an intra gain 1005.84 points, i.e., 1.27%, today Sensex must move and sustain above 80280-80320-80450 levels; if to do so, then it may try to re-test 80590-80670-80750-80860-80990-81075 levels. On the other hand, any weakness near 80280-80320-80450 further, it moves below 80110-80020 then, the Index may re-visit 79830-79715-79575-79455-79340-79205-79075 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.2474.10 Cr. On the other hand, DIIs continued as a net buyer they bought on the net basis to the tune of Rs.2817.65 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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