02.05.2025-Friday, 08.50 am

Good Morning all... 

What has happened on Wednesday? Nifty Index, opened on a positive note at 24342.05, our expected opening band 24340-24280-24210, on the closing last hour move it made a day high 24396.15 further it moved down; made a day low 24198.75 and closed on a flat to negative note at 24334.20 with intra loss 1.75 points, i.e., -0.01%.

What will happen today? 

Nifty Index: Today, we expect the Nifty may open near 24340-24395-24425 levels; if open, trade and sustain above 24425 then, the index may re-test 24455-24505-24550-24600-24630-24675 levels. On the other hand, the immediate support lies at 24295-24275 if, the Index moves below 24275 then, it may try to re-visit 24245-24200-24150-24115-24080-24035-23990-23955-23920 levels.

Special Mention: On Wednesday, Nifty Index unable to continue the pull back rally beyond 24457.65, made a high 24396.15 and closed below support levels i.e., 24365. Today, the Nifty index must trade, sustain and closes above 24455-24505; it may continue the pull back rally to re-test 24675-24855-24950 levels. On the other hand, the immediate support seen at 24275-24150, further weakness below 24150 then, the Index may try to re-visit 23870-23600-23420 levels in the near term. Let see how the Index opens today near 24340-24395-24425 levels.

Nifty Bank Index: On Wednesday, Nifty Bank Index opened on a negative note at 55382.40 on the opening move, it made a high 55478.25 thereafter, it moved down, made a low 54723.70 and closed on a negative note at 55087.15 with an intra loss 304.10 points, i.e., -0.55%, today Nifty Bank Index must move and sustain above 55160-55235 levels; if to do so, then it may try to re-test 55315-55475-54680-55785-55880-55990-56100 levels. On the other hand, any weakness near 55160-55235 further, it moves below 55010-54900 then, the Index may re-visit 54810-54725-54630-54515-54405-54290-54175 levels. 

Sensex Index: On Wednesday, Sensex opened on a positive note at 80370.80 on the closing hour, it made a day high 80525.61; thereafter, it moved down and made a low 79879.15 and closed on a negative note at 80242.24 with an intra loss 46.14 points, i.e., -0.06%, today Sensex must move and sustain above 80335-80450 levels; if to do so, then it may try to re-test 80525-80660-80705-80810-80885-80980-81080 levels. On the other hand, any weakness near 80335-80450 further, it moves below 80125-80030 then, the Index may re-visit 79955-79875-79755-79700-79635-79510-79390-79240-79090 levels.

FII's & DII's Funds Flow: On Wednesday, FIIs, continued as a net buyer, they bought on the net basis to the tune of Rs.50.57 Cr. On the other hand, DIIs continued as a net buyer they bought on the net basis to the tune of Rs.1792.15 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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