05.05.2025-Monday, 08.50 am

Good Morning all... 

What has happened on Friday? Nifty Index, opened on a negative note at 24311.90, our expected opening band 24340-24395-24425, on the opening move it made a day high 24589.15 further it moved down; made a day low 24238.50 and closed on a flat to positive note at 24346.70 with intra gain 12.50 points, i.e., 0.05%.

What will happen today? 

Nifty Index: Today, we expect the Nifty may open near 24375-24410-24440 levels; if open, trade and sustain above 24440 then, the index may re-test 24475-24505-24550-24600-24630-24680 levels. On the other hand, the immediate support lies at 24320-24285 if, the Index moves below 24285 then, it may try to re-visit 24240-24200-24175-24130-24115-24075-24035-23990-23935 levels.

Special Mention: On Friday, Nifty Index continued the pull back rally beyond our threshold resistance levels i.e.,24505, made a high 24589.15 and closed below our support levels i.e., 24365. Today, the Nifty index must trade, sustain and closes above 24455-24505-24600; it may continue the pull back rally to re-test 24675-24855-24950 levels. On the other hand, the immediate support seen at 24130-24050, further weakness below 24050 then, the Index may try to re-visit 23870-23600-23420 levels in the near term. Let see how the Index opens today near 24375-24410-24440 levels.

Nifty Bank Index: On Friday, Nifty Bank Index opened on a positive note at 55100.95 on the opening move, it made a high 55691.95 thereafter, it moved down, made a low 54994.40 and closed on a positive note at 55115.35 with an intra gain 28.20 points, i.e., 0.05%, today Nifty Bank Index must move and sustain above 55160-55290 levels; if to do so, then it may try to re-test 55340-55485-54690-55785-55880-55990-56100 levels. On the other hand, any weakness near 55160-55290 further, it moves below 54995-54900 then, the Index may re-visit 54805-54725-54630-54515-54405-54290-54175 levels. 

Sensex Index: On Friday, Sensex opened on a positive note at 80300.19 on the opening move, it made a day high 81177.93; thereafter, it moved down and made a low 80168.59 and closed on a positve at 80501.99 with an intra gain 259.75 points, i.e., 0.32%, today Sensex must move and sustain above 80555-80700 levels; if to do so, then it may try to re-test 80880-80960-81080-81175-81310-81450 levels. On the other hand, any weakness near 80555-80700 further, it moves below 80405-80335 then, the Index may re-visit 80280-80170-80030-79880-79740-79590-79400-79210 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.2769.81 Cr. On the other hand, DIIs continued as a net buyer they bought on the net basis to the tune of Rs.3290.49 Cr. 

INDIA's Macro Data:-

On 02nd May'25-Friday, the HSBC Manufacturing PMI data for the month of Apr'25 released, it moved up to 58.20 from 58.10 i.e., Mar'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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