16.05.2025-Friday, 08.55 am

Good Morning all... 

What has happened yesterday? Nifty Index, opened on a positive note at 24694.45, our expected opening band 24580-24650-24700, on the opening move it made a day low 24494.45 further it moved up; made a day high 25116.25 and closed on a positive note at 25062.10 with intra gain 395.20 points, i.e., 1.60%.

What will happen today? 

Nifty Index: Today, we expect the Nifty may open near 25130-25075-25035 levels; if open, trade and sustain above 25130 then, the index may re-test 25165-25205-25240-25280-25305 levels. On the other hand, the immediate support lies at 24975-24950-24935 if, the Index moves below 24935 then, it may try to re-visit 24880-24840-24805-24770-24730-24685-23640 levels.

Special Mention: Yesterday, Nifty Index though it moved down below 24535, made a day low 24494.45, the strong pull back lifted the index beyond our threshold resistance zone 24950-24975, made a day high 25116.25 and closed above 24950-24975 levels. Today, the Nifty index must trade, sustain and closes above 25135-25235-25305; it may continue the pull back rally to re-test 25550-25790 levels. On the other hand, the immediate support seen at 24950-24860-23730, further weakness below 24730 then, the Index may try to re-visit 24640-24590-24495-24385 levels in the near term. Let see how the Index opens today near 25130-25075-25035 levels.

Nifty Bank Index: Yesterday, Nifty Bank Index opened on a positive note at 54970 on the opening move, it made a low 54625 thereafter, it moved down, made a high 55499.60 and closed on a positive note at 55355.60 with an intra gain 554.30 points, i.e., 1.01%, today Nifty Bank Index must move and sustain above 55490-55550 levels; if to do so, then it may try to re-test 55675-55800-55950-56100 levels. On the other hand, any weakness near 55490-55550 further, it moves below 55300-55185 then, the Index may re-visit 55050-54965-54840-54700-54565-54445 levels. 

Sensex Index: Yesterday, Sensex opened on a positive note at 81354.43 on the opening move, it made a day low 80762.16; thereafter, it moved up and made a high 82718.14 and closed on a positive at 82530.74 with an intra gain 1200.18 points, i.e., 1.48%, today Sensex must move and sustain above 82720-82865 levels; if to do so, then it may try to re-test 83000-83125- 83250-83420-83590-83700 levels. On the other hand, any weakness near 82720-82865 further, it moves below 82430-82290 then, the Index may re-visit 82100-81915-81765-81620-81510-81450-81285-81065-80845 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.5392.94 Cr. On the other hand, DIIs turned as a net seller they sold on the net basis to the tune of Rs.1668.47 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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