15.05.2025-Thursday, 08.55 am

Good Morning all... 

What has happened yesterday? Nifty Index, opened on a positive note at 24613.80, our expected opening band 24590-24635-24680, on the opening move it made a day high 24767.55 further it moved down; made a day low 24535.55 and closed on a positive note at 24666.90 with intra gain 88.55 points, i.e., 0.36%.

What will happen today? 

Nifty Index: Today, we expect the Nifty may open near 24580-24650-24700 levels; if open, trade and sustain above 24700 then, the index may re-test 24740-24770-24830-24845-24885-24925-24950-24975-25005 levels. On the other hand, the immediate support lies at 24540-24515 if, the Index moves below 24515 then, it may try to re-visit 24470-24455-24420-24395-24360-24335-24295-24255 levels.

Special Mention: Yesterday, Nifty Index unable to continue the northward rally, the consolidation move dragged the Index 24535.55 and closed above our threshold support levels i.e., 24590. Today, the Nifty index must trade, sustain and closes above 24670-24770-24950; it may continue the pull back rally to re-test 25300-25530 levels. On the other hand, the immediate support seen at 24545-24455-24330, further weakness below 24330 then, the Index may try to re-visit 24175-23935-23850 levels in the near term. Let see how the Index opens today near 24580-24650-24700 levels.

Nifty Bank Index: Yesterday, Nifty Bank Index opened on a positive note at 55008.55 on the opening move, it made a high 55208.60 thereafter, it moved down, made a low 54491 and closed on a negative note at 54801.30 with an intra loss 139.55 points, i.e., -0.25%, today Nifty Bank Index must move and sustain above 54900-55000 levels; if to do so, then it may try to re-test 55125-55210-55330-55405-55550-55675-55800-55950 levels. On the other hand, any weakness near 54900-55000 further, it moves below 54765-54580 then, the Index may re-visit 54490-54430-54295-54070-53925-53775 levels. 

Sensex Index: Yesterday, Sensex opened on a positive note at 81278.49 on the opening move, it made a day high 81691.87; thereafter, it moved down and made a low 80910.03 and closed on a positive at 81330.56 with an intra gain 182.34 points, i.e., 0.22%, today Sensex must move and sustain above 81440-81525 levels; if to do so, then it may try to re-test 81600-81690-81705-81800-81905-81980-82160 levels. On the other hand, any weakness near 81440-81525 further, it moves below 81210-81035 then, the Index may re-visit 80910-80770-80560-80345-80210-80080-79950-79820 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.931.80 Cr. On the other hand, DIIs continued as a net buyer they bought on the net basis to the tune of Rs.316.31 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 Apr'25 released on 13th May'25-Tuesday, the inflation has come down to 3.16% from May'25 level i.e., 3.34%.

WPI Inflation data for the month of Apr'25 released on 14th May'25-Wednesday, it has come down to 0.85% as against the May'25 level i.e.,2.05%.

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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