09.05.2025-Friday, 08.55 am

Good Morning all... 

What has happened yesterday? Nifty Index, opened on a positive note at 24431.50, our expected opening band 24365-24445-24475, on the opening move it made a day high 24447.25 further it moved down; made a day low 24150.20 and closed on a negative note at 24273.80 with intra loss 140.60 points, i.e., -0.58%.

What will happen today? 

Nifty Index: Today, we expect the Nifty may open near 24220-24130-24020 levels; if open, trade and sustain above 24220 then, the index may re-test 24265-24300-24355-24400-24445-24495-24525-24555-24590 levels. On the other hand, the immediate support lies at 23980-23935 if, the Index moves below 23935 then, it may try to re-visit 23900-23860-23830-23795-23755-23705-23660-23600 levels.

Special Mention: Yesterday, Nifty Index continued the sell-off beyond our threshold support levels i.e.,24200, made a day low 24150.20, due to geo-political tension and closed above 24200 levels. Today, the Nifty index must trade, sustain and closes above 24360-24590; it may continue the pull back rally to re-test 24675-24860 levels. On the other hand, the immediate support seen at 24130-24050, further weakness below 24050 then, th24e Index may try to re-visit 23870-23500 levels in the near term. Let see how the Index opens today near 24220-24130-24020 levels.

Nifty Bank Index: Yesterday, Nifty Bank Index opened on a positive note at 54801.75 on the opening move, it made a high 54937.25 thereafter, it moved down, made a low 54108 and closed on a negative note at 54365.65 with an intra loss 245.25 points, i.e., -0.45%, today Nifty Bank Index must move and sustain above 54435-54650 levels; if to do so, then it may try to re-test 54750-54935-55010-55160-55265-55365-55460-55545-55630 levels. On the other hand, any weakness near 54435-54650 further, it moves below 54300-54110 then, the Index may re-visit 53920-53880-53755-53650-53560-53445-53310-53185-53050 levels. 

Sensex Index: Yesterday, Sensex opened on a posiitve note at 80912.34 on the opening move, it made a day high 80927.99; thereafter, it moved up and made a low 79987.61 and closed on a negative at 80334.81 with an intra loss 411.97 points, i.e., -0.51%, today Sensex must move and sustain above 80450-80565-80680 levels; if to do so, then it may try to re-test 80730-80820-80925-81030-81185-81290-81385-81480 levels. On the other hand, any weakness near 80450-80565-80680 further, it moves below 80210-80095 then, the Index may re-visit 79985-79880-79740-79590-79400-79210 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.2007.96 Cr. On the other hand, DIIs turned as a net seller they sold on the net basis to the tune of Rs.596.25 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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