22.05.2025-Thursday, 08.45 am

Good Morning all... 

What has happened yesterday? Nifty Index, opened on a positive note at 24774.25, our expected opening band 24640-24685-24730, on the opening move it made a day high 24946.20 further it moved down; made a day low 24685.35 and closed on a positive note at 24813.45 with intra gain 129.55 points, i.e., -0.52%.

What will happen today? 

Nifty Index: Today, we expect the Nifty may open near 24785-24740-24670 levels; if open, trade and sustain above 24785 then, the index may re-test 24815-24840-24890-24945-24985-25020-25065-25100 levels. On the other hand, the immediate support lies at 24640-24590 if, the Index moves below 24590 then, it may try to re-visit 24555-24525-24495-24455-24425-24385 levels.

Special Mention: Yesterday, Nifty Index continued the weakness with consolidation, made an inside day pattern i.e., not broken the previous day low or high levels and closed below our threshold support levels i.e., 24840. 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 24670-24590-24495, 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 24785-24740-24670 levels.

Nifty Bank Index: Yesterday, Nifty Bank Index opened on a positive note at 55060.20 on the opening move, it made a high 55336.85 thereafter, it moved down, made a low 54690.80 and closed on a positive note at 55075.10 with an intra gain 197.75 points, i.e., 0.36%, today Nifty Bank Index must move and sustain above 55145-55220 levels; if to do so, then it may try to re-test 55340-55535-55570-55695-55770-55950-56100 levels. On the other hand, any weakness near 55145-55220 further, it moves below 54890-54690 then, the Index may re-visit 54590-55485-54395-54290-54100-54205-53790 levels. 

Sensex Index: Yesterday, Sensex opened on a positive note at 81327.61 on the opening move, it made a day high 82021.64; thereafter, it moved down and made a low 81237.06 and closed on a positive at 81596.63 with an intra gain 410.19 points, i.e., 0.51%, today Sensex must move and sustain above 81685-81790 levels; if to do so, then it may try to re-test 81930-82020-82235-82400-82550-82630-82720 levels. On the other hand, any weakness near 81685-81790 further, it moves below 81535-81390 then, the Index may re-visit 81235-81065-80845-80620-80400-80130 levels.

PUT/CALL Ratio: Over all Nifty Index Put and Call ratio for 21st May'25 stands at 0.81 when compared with previous day level of 0.69, normally the reading below 1  denotes weakness, above 1 denotes strength on the index.

FII's & DII's Funds Flow: Yesterday, FIIs, turned as a net buyer, they bought on the net basis to the tune of Rs.2201.79 Cr. On the other hand, DIIs continued as a net buyer they bought on the net basis to the tune of Rs.683.77 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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