05.06.2025-Thursday, 08.35 am

Good Morning all... 

What has happened yesterday? Nifty Index, opened on a positive note at 24560.45, on the opening move it made a day low 24530.45 further it moved up; made a day high 24644.25 and closed on a positive note at 24620.20 with intra gain 77.70 points, i.e., 0.32%.

What will happen today? 

Nifty Index: Today, we expect the Nifty may open near 24575-24645-24695 levels; if open, trade and sustain above 24695 then, the index may re-test 24735-24770-24805-24845-24900-24945-24980-25010 levels. On the other hand, the immediate support lies at 24555-24460 if, the Index moves below 24460 then, it may try to re-visit 24425-24385-24340-24300-24215-24165 levels.

Special Mention: Yesterday, Nifty Index continued the weakness but not broken the previous day high or low levels, made an inside day pattern and closed above our threshold support levels i.e., 24525. Today, the Nifty index must trade, sustain and closes above 24740-24845; it may continue the pull back rally to re-test 24900-25120-25305 levels in the near term. On the other hand, the immediate support seen at 24485-24330, further weakness below 24330 then, the Index may try to re-visit 24165-23935-23845 levels in the near term. Let see how the Index opens today near 24575-24645-24695 levels.

Nifty Bank Index: Yesterday, Nifty Bank Index opened on a positive note at 55650.35, on the opening move, it made a low 55408.35 thereafter, it moved up, made a high 55791 and closed on a positive note at 55676.85 with an intra gain 76.90 points, i.e., 0.14%, today Nifty Bank Index must move and sustain above 55790-55895 levels; if to do so, then it may try to test 55960-56065-56160-56320-56485 levels. On the other hand, any weakness near 55790-55895 further, it moves below 55410-55370-55305 then, the Index may re-visit 55275-55180-55065-54950-54770-54575 levels. 

Sensex Index: Yesterday, Sensex opened on a positive note at 80777.65 on the opening move, it made a day low 80705.18; thereafter, it moved up and made a high 81087.29 and closed on a positive at 80998.25 with an intra gain 260.74 points, i.e., 0.32%, today Sensex must move and sustain above 81085-81195 levels; if to do so, then it may try to re-test 81250-81370-81490-81610-81725-81815-81905 levels. On the other hand, any weakness near 81085-81195 further, it moves below 80945-80850 then, the Index may re-visit 80725-80600-80400-80265-80130-79855 levels.

PUT/CALL Ratio: Over all Nifty Index Put and Call ratio for 04th Jun'25 stands at 0.73 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 buyer, they bought on the net basis to the tune of Rs.1076.18 Cr. On the other hand, DIIs continued as a net buyer they bought on the net basis to the tune of Rs.2566.82 Cr. 

INDIA's Macro Data:-

On 02nd Jun'25-Monday, the HSBC Manufacturing PMI data released for the month of May'25, it moved down to 57.60 from 58.20 i.e., Apr'25. Likewise, the HSBC Services PMI data for the month of May'25 released on 04th Jun'25-Wednesday, it moved up marginally to 58.80 from 58.70 i.e., Apr'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%. Next MPC meet outcome is expected on 06th Jun'25-Friday.

GDP data for the Q4 ending Mar'25 released on 30th May'25-Friday, the GDP has moved up to 7.40% Vs.6.40% (Q3-Dec'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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