23.05.2025-Friday, 08.35 am

Good Morning all... 

What has happened yesterday? Nifty Index, opened on a negative note at 24733.95, our expected opening band 24785-24740-24670, on the opening move it made a day high 24737.50 further it moved down; made a day low 24462.40 and closed on a negative note at 24609.70 with intra loss 203.75 points, i.e., -0.82%.

What will happen today? 

Nifty Index: Today, we expect the Nifty may open near 24570-24600-24645 levels; if open, trade and sustain above 24645 then, the index may re-test 24685-24710-24750-24790-24810-24865-24895-24925 levels. On the other hand, the immediate support lies at 24525-24495 if, the Index moves below 24495 then, it may try to re-visit 24460-24425-24385-24340-24300 levels.

Special Mention: Yesterday, Nifty Index continued the weakness broken the threshold support zone i.e., 24670-24495, made a low 24462.40 and closed above our threshold support levels i.e., 24495. Today, the Nifty index must trade, sustain and closes above 24730-24840; it may continue the pull back rally to re-test 24935-25130-25305 levels in the near term. On the other hand, the immediate support seen at 24495-24385, further weakness below 24385 then, the Index may try to re-visit 24215-24075-23935 levels in the near term. Let see how the Index opens today near 24570-24600-24645 levels.

Nifty Bank Index: Yesterday, Nifty Bank Index opened on a positive note at 54875.90 on the opening move, it made a low 54576.60 thereafter, it moved up, made a high 54996.10 and closed on a negative note at 54941.30 with an intra loss 133.30 points, i.e., -0.24%, today Nifty Bank Index must move and sustain above 55005-55135 levels; if to do so, then it may try to re-test 55270-55365-55455-55570-55695-55770-55950 levels. On the other hand, any weakness near 55005-55135 further, it moves below 54835-54785 then, the Index may re-visit 54700-54625-54575-54330-54165 levels. 

Sensex Index: Yesterday, Sensex opened on a negative note at 81323.05 on the opening move, it made a day high 81323.24; thereafter, it moved down and made a low 80489.92 and closed on a negative at 80951.99 with an intra loss 644.64 points, i.e., -0.79%, today Sensex must move and sustain above 81045-81145 levels; if to do so, then it may try to re-test 81230-81325-81550-81620-81775-81915-82100-82290-81520 levels. On the other hand, any weakness near 81045-81145 further, it moves below 80810-80685 then, the Index may re-visit 80580-80490-80265-80130-79855 levels.

PUT/CALL Ratio: Over all Nifty Index Put and Call ratio for 22nd May'25 stands at 0.79 when compared with previous day level of 0.81, 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 seller, they sold on the net basis to the tune of Rs.5045.46 Cr. On the other hand, DIIs continued as a net buyer they bought on the net basis to the tune of Rs.3715 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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