17.06.2025-Tuesday, 08.35 am

Good Morning all... 

What has happened yesterday? Nifty Index, opened on a positive note at 24732.35, on the opening move it made a day low 24703.60 further it moved up; made a day high 24967.10 and closed on a positive note at 24946.50 with an intra gain 227.90 points, i.e., 0.92%.

What will happen today? 

Nifty Index: Today, we expect the Nifty may open near 25000-24940-24895 levels; if open, trade and sustain above 25000 then, the index may re-test 25035-25060-25100-25130-25165-25200-25225 levels. On the other hand, the immediate support lies at 24860-24830 if, the Index moves below 24830 then, it may try to re-visit 24810-24775-24720-24690-24660-24625-24590 levels.

Special Mention: Yesterday, Nifty Index continued the up trend, moved near our threshold resistance levels i.e., 25000, made a high 24967.10 and closed above our support levels i.e., 24850. Today, the Nifty index must trade, sustain and closes above 24940-25000; it may continue the pull back rally to re-test 25135-25220-25305 levels in the near term. On the other hand, the immediate support seen at 24850-24760, further weakness below 24760 then, the Index may try to re-visit 24650-24560-24470 levels in the near term. Let see how the Index opens today near 25000-24940-24895 levels.

Nifty Bank Index: Yesterday, Nifty Bank Index opened on a positive note at 55554.10, on the opening move, it made a low 55381.45 thereafter, it moved up, made a high 55956.65 and closed on a positive note at 55944.90 with an intra gain 417.55 points, i.e., 0.75%, today Nifty Bank Index must move and sustain above 56000-56100 levels; if to do so, then it may try to test 56210-56320-56410-56490-56560-56640-56735 levels. On the other hand, any weakness near 56000-56100 further, it moves below 55860-55690 then, the Index may re-visit 55615-55490-55380-55210-55150-55000-54845 levels. 

Sensex Index: Yesterday, Sensex opened on a positive note at 81034.45 on the opening move, it made a day low 81012.31 thereafter, it moved up and made a high 81865.82 and closed on a positive at 81796.15 with an intra gain 677.55 points, i.e., 0.84%, today Sensex must move and sustain above 81865-82070 levels; if to do so, then it may try to re-test 82165-82260-82385-82500-82640-82780 levels. On the other hand, any weakness near 81865-82070 further, it moves below 81710-81540 then, the Index may re-visit 81420-81290-81110-81015-80930-80820-80710 levels.

PUT/CALL Ratio: Over all Nifty Index Put and Call ratio for 16th Jun'25 stands at 1.14 with PUT open interest of 3224776 and CALL open interest of 2826385, when compared with previous day level of 0.89, normally the reading below 1  denotes weakness/bearish, above 1 denotes strength/bullish on the index.

FIIs/FPIs & DIIs Funds Flow on NSE, BSE and MSEI : Yesterday, FIIs/FPIs, continued as a net seller, they sold on the net basis to the tune of Rs.2539.42 Cr. On the other hand, DIIs continued as a net buyer they bought on the net basis to the tune of Rs.5780.96 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 06th Jun'25-Friday, the MPC has reduced the Repo rate by 50 BPS to 5.50% from the existing rate of 6.00%, also it has rdeuced the CRR-Cash Reserve Ratio by 100 BPS to 3% from 4%. 

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 Apr'25 released on 28th May'25-Wednesday, the Industrial production has come down up to 2.70%; when compared to the Mar'25 level, i.e., 3.90%. 

Annual Inflation data for May'25 released on 12th Jun'25-Thursday, the inflation has come down to 2.82% from Apr'25 level i.e., 3.16%.

WPI Inflation data for the month of May'25 released on 16th Jun'25-Monday, it has come down further to 0.39% as against the Apr'25 level i.e.,0.85%.

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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