06.06.2025-Friday, 08.35 am

Good Morning all... 

What has happened yesterday? Nifty Index, opened on a positive note at 24691.20, on the opening move it made a day low 24613.10 further it moved up; made a day high 24899.85 and closed on a positive note at 24750.90 with intra gain 77.70 points, i.e., 0.53%.

What will happen today? 

Nifty Index: Today, we expect the Nifty may open near 24695-24720-24780 levels; if open, trade and sustain above 24780 then, the index may re-test 24805-24845-24900-24945-24980-25010-25080 levels. On the other hand, the immediate support lies at 24650-24610 if, the Index moves below 24610 then, it may try to re-visit 24575-24535-24500-24465-24425-24385 levels.

Special Mention: Yesterday, Nifty Index continued the up trend, moved till our thrshold resistance levels i.e., 24900, made a high 24899.85 and closed below near support levels i.e., 24770. Today, the Nifty index must trade, sustain and closes above 24900-25080; it may continue the pull back rally to re-test 25120-25305-25435 levels in the near term. On the other hand, the immediate support seen at 24460-24385, further weakness below 24385 then, the Index may try to re-visit 24165-23935-23845 levels in the near term. Let see how the Index opens today near 24695-24720-24780 levels.

Nifty Bank Index: Yesterday, Nifty Bank Index opened on a positive note at 55806.75, on the opening move, it made a low 55580.45 thereafter, it moved up, made a high 56010.15 and closed on a positive note at 55760.85 with an intra gain 84 points, i.e., 0.15%, today Nifty Bank Index must move and sustain above 55840-56010 levels; if to do so, then it may try to test 56125-56320-56485-56645-56810 levels. On the other hand, any weakness near 55840-56010 further, it moves below 55745-55630-55580 then, the Index may re-visit 55370-55275-55180-55065-54950-54770-54575 levels. 

Sensex Index: Yesterday, Sensex opened on a positive note at 81196.08 on the opening move, it made a day low 80983.73; thereafter, it moved up and made a high 81911.13 and closed on a positive at 81442.04 with an intra gain 443.79 points, i.e., 0.54%, today Sensex must move and sustain above 81515-81640 levels; if to do so, then it may try to re-test 81715-81910-82160-82325-82490 levels. On the other hand, any weakness near 81515-81640 further, it moves below 81340-81250 then, the Index may re-visit 81090-80985-80845-80725-80620-80400 levels.

PUT/CALL Ratio: Over all Nifty Index Put and Call ratio for 05th Jun'25 stands at 0.84 when compared with previous day level of 0.73, 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.208.47 Cr. On the other hand, DIIs continued as a net buyer they bought on the net basis to the tune of Rs.2382.40 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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