21.05.2025-Wednesday, 08.45 am

Good Morning all... 

What has happened yesterday? Nifty Index, opened on a negative note at 24996.205, our expected opening band 24970-25020-25070, on the opening move it made a day high 25010.35 further it moved down; made a day low 24669.70 and closed on a negative note at 24683.90 with intra loss 261.55 points, i.e., -1.05%.

What will happen today? 

Nifty Index: Today, we expect the Nifty may open near 24640-24685-24730 levels; if open, trade and sustain above 24730 then, the index may re-test 24775-24805-24840-24890-24945-24985-25020-25065-25100 levels. On the other hand, the immediate support lies at 24590-24555 if, the Index moves below 24555 then, it may try to re-visit 24525-24495-24455-24425-24385 levels.

Special Mention: Yesterday, Nifty Index continued the weakness, broken our threshold support zone  i.e., 24935-24770, made a low 24669.70 and closed below 24730 levels. Today, the Nifty index must trade, sustain and closes above 24840-24975; it may continue the pull back rally to re-test 25130-25305-25550 levels in the near term. On the other hand, the immediate support seen at 24665-24590-24495, further weakness below 24495 then, the Index may try to re-visit 24385-24215-24075 levels in the near term. Let see how the Index opens today near 24640-24685-24730 levels.

Nifty Bank Index: Yesterday, Nifty Bank Index opened on a positive note at 55445.30 on the opening move, it made a high 55568.35 thereafter, it moved down, made a low 54829.45 and closed on a negative note at 54877.35 with an intra loss 543.35 points, i.e., -0.98%, today Nifty Bank Index must move and sustain above 55045-55210 levels; if to do so, then it may try to re-test 55350-55485-55570-55695-55770-55950-56100 levels. On the other hand, any weakness near 55045-55210 further, it moves below 54830-54635 then, the Index may re-visit 54485-54395-54290-54100-54205-53790 levels. 

Sensex Index: Yesterday, Sensex opened on a positive note at 82116.17 on the opening move, it made a day high 82250.42; thereafter, it moved down and made a low 81153.70 and closed on a negative at 81186.44 with an intra loss 872.98 points, i.e., -1.06%, today Sensex must move and sustain above 81285-81450 levels; if to do so, then it may try to re-test 81620-81795-81915-82015-82250-82400-82550-82630-82720 levels. On the other hand, any weakness near 81285-81450 further, it moves below 81065-80845 then, the Index may re-visit 80625-80510-80400-80260-80130-79990-79860 levels.

PUT/CALL Ratio: Over all Nifty Index Put and Call ratio stands at 0.69 which denotes more weakness in the near term.

FII's & DII's Funds Flow: Yesterday, FIIs, continued as a net seller, they sold heavily on the net basis to the tune of Rs.10016.10 Cr. On the other hand, DIIs turned as a net buyer they bought on the net basis to the tune of Rs.6738.39 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 Mar'25 released on 12th May'25-Monday, the Industrial production has gone up to 3.00%; when compared to the Feb'25 level, i.e., 2.90%. 

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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