06.05.2025-Tuesday, 08.55 am

Good Morning all... 

What has happened yesterday? Nifty Index, opened on a positive note at 24419.50, our expected opening band 24375-24410-24440, on the opening move it made a day low 24400.65 further it moved up; made a day high 24526.40 and closed on a positive note at 24461.15 with intra gain 114.65 points, i.e., 0.47%.

What will happen today? 

Nifty Index: Today, we expect the Nifty may open near 24400-24445-24490 levels; if open, trade and sustain above 24490 then, the index may re-test 24525-24560-24550-24590-24605-24630-24680-24725-24770 levels. On the other hand, the immediate support lies at 24390-24365-24345 if, the Index moves below 24345 then, it may try to re-visit 24320-24290-24245-24200-24175-24130-24115-24075-24025 levels.

Special Mention: Yesterday, Nifty Index unable to continue the pull back rally beyond the resistance levels i.e.,24600, traded with a range bound move, made an inside day pattern i.e., not broken the prvious day high or low levels and closed below our threshold support levels i.e., 24475. Today, the Nifty index must trade, sustain and closes above 24475-24525-24600; it may continue the pull back rally to re-test 24675-24855-24950 levels. On the other hand, the immediate support seen at 24390-24200, further weakness below 24200 then, the Index may try to re-visit 24130-24020-23870 levels in the near term. Let see how the Index opens today near 24400-24445-24490 levels.

Nifty Bank Index: Yesterday, Nifty Bank Index opened on a negative note at 55065.60 on the opening move, it made a high 55345.50 thereafter, it moved down, made a low 54786.50 and closed on a negative note at 54919.50 with an intra loss 195.85 points, i.e., -0.36%, today Nifty Bank Index must move and sustain above 55000-55080 levels; if to do so, then it may try to re-test 55180-55280-55345-55495-55535-55610-55690-55780-55880 levels. On the other hand, any weakness near 55000-55080 further, it moves below 54880-54785 then, the Index may re-visit 54725-54630-54515-54405-54290-54175-54065 levels. 

Sensex Index: Yesterday, Sensex opened on a positive note at 80661.62 on the opening move, it made a day low 80657.71; thereafter, it moved up and made a high 81049.03 and closed on a positve at 80781.60 with an intra gain 279.61 points, i.e., 0.35%, today Sensex must move and sustain above 80910-81000-81050 levels; if to do so, then it may try to re-test 81175-81310-81450-81600-81750 levels. On the other hand, any weakness near 80910-81000-81050 further, it moves below 80755-80660 then, the Index may re-visit 80550-80450-80375-80280-80185-80035-79880-79740-79600 levels.

FII's & DII's Funds Flow: Yesterday, 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.2788.66 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 497.79 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.

Research Analyst Disclaimer: Registration granted by SEBI and certification from NISM in no way guarantee performance of the intermediary or provide any assurance of returns to investors.