13.05.2025-Tuesday, 08.55 am

Good Morning all... 

What has happened yesterday? Nifty Index, opened on a positive note at 24420.10, our expected opening band 24095-24185-24260, on the opening move it made a day low 24378.05 further it moved up; made a day high 24944.80 and closed on a positive note at 24924.70 with intra gain 916.70 points, i.e., 3.82%.

What will happen today? 

Nifty Index: Today, we expect the Nifty may open near 24945-24900-24860 levels; if open, trade and sustain above 24945 then, the index may re-test 24975-25505-25535-25570-25095-25130-25160-25195-25250-25300 levels. On the other hand, the immediate support lies at 24830-24780 if, the Index moves below 24780 then, it may try to re-visit 24730-24690-24650-24605-24560-24530-24500-24440 levels.

Special Mention: Yesterday, Nifty Index started the northward rally due to the ease of geo-political tension, surpassed the immediate hurdle of 24860, made a high 24944.80 and closed above 24860 levels. Today, the Nifty index must trade, sustain and closes above 24950-25130; it may continue the pull back rally to re-test 25300-25530 levels. On the other hand, the immediate support seen at 24860-23650, further weakness below 23650 then, th24e Index may try to re-visit 24560-24320-24175 levels in the near term. Let see how the Index opens today near 24945-24900-24860 levels.

Nifty Bank Index: Yesterday, Nifty Bank Index opened on a positive note at 54658.75 on the opening move, it made a low 54558.05 thereafter, it moved up, made a high 55466.30 and closed on a positive note at 55382.85 with an intra gain 1787.60 points, i.e., 3.34%, today Nifty Bank Index must move and sustain above 55465-55550 levels; if to do so, then it may try to re-test 55675-55715-55800-55955-56100-56200-56375 levels. On the other hand, any weakness near 53790-54055 further, it moves below 55230-55120 then, the Index may re-visit 55015-54905-54840-54770-54665-54560-54430 levels. 

Sensex Index: Yesterday, Sensex opened on a positive note at 80803.85 on the opening move, it made a day low 80651.07; thereafter, it moved up and made a high 82495.97 and closed on a positive at 82429.90 with an intra gain 2975.43 points, i.e., 3.74%, today Sensex must move and sustain above 82575-82720 levels; if to do so, then it may try to re-test 82865-82995-83225-83405-83590 levels. On the other hand, any weakness near 82575-82720 further, it moves below 82175-82095 then, the Index may re-visit 81955-81790-81740-81600-81460-81355-81220-81150-80940-80730 levels.

FII's & DII's Funds Flow: Yesterday, FIIs, turned as a net buyer, they bought on the net basis to the tune of Rs.1246.48 Cr. On the other hand, DIIs also turned as a net buyer they bought on the net basis to the tune of Rs.1448.37 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.

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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