08.05.2025-Thursday, 08.55 am

Good Morning all... 

What has happened yesterday? Nifty Index, opened on a negative note at 24233.30, our expected opening band 24395-24330-24290, on the opening move it made a day low 24220 further it moved up; made a day high 24449.60 and closed on a positive note at 24414.40 with intra gain 34.80 points, i.e., 0.14%.

What will happen today? 

Nifty Index: Today, we expect the Nifty may open near 24365-24445-24475 levels; if open, trade and sustain above 24475 then, the index may re-test 24505-24550-24590-24605-24630-24680-24725 levels. On the other hand, the immediate support lies at 24335-24305 if, the Index moves below 24305 then, it may try to re-visit 24275-24245-24200-24175-24130-24075-24050-24020 levels.

Special Mention: Yesterday, Nifty Index continued the sell-off till our threshold support levels i.e.,24200, made a day low 24220, the brief intra pull back lifted the index till 24449.60 and closed above our threshold support levels i.e., 24360. Today, the Nifty index must trade, sustain and closes above 24475-24525-24600; it may continue the pull back rally to re-test 24675-24860-24950 levels. On the other hand, the immediate support seen at 24200-24130, further weakness below 24130 then, the Index may try to re-visit 24050-23870 levels in the near term. Let see how the Index opens today near 24365-24445-24475 levels.

Nifty Bank Index: Yesterday, Nifty Bank Index opened on a negative note at 54013.40 on the opening move, it made a low 53919.90 thereafter, it moved up, made a high 54684.30 and closed on a positive note at 54610.90 with an intra gain 339.50 points, i.e., 0.63%, today Nifty Bank Index must move and sustain above 54685-54750 levels; if to do so, then it may try to re-test 54880-55010-55265-55365-55460-55545-55630-55740 levels. On the other hand, any weakness near 54685-54750 further, it moves below 54520-54460 then, the Index may re-visit 54390-54300-54210-54100-53920-53755 levels. 

Sensex Index: Yesterday, Sensex opened on a negative note at 79948.80 on the opening move, it made a day low 79937.48; thereafter, it moved up and made a high 80844.62 and closed on a positive at 80746.78 with an intra gain 105.71 points, i.e., 0.13%, today Sensex must move and sustain above 80580-80650-80740 levels; if to do so, then it may try to re-test 80790-80845-80980-81090-81290-81385-81480-81620 levels. On the other hand, any weakness near 80580-80650-80740 further, it moves below 80600-80500 then, the Index may re-visit 80390-80285-80150-80045-79940-79880-79690 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.2585.86 Cr. On the other hand, DIIs also continued as a net buyer they bought on the net basis to the tune of Rs.2378.49 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 497.79 from 58.10 i.e., Mar'25. Likewise, the HSBC Services PMI data for the month of Apr'25 released on 06th May'25-Tuesday, it moved up to 59.70 from 59.50 i.e., Mar'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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