02.07.2025-Wednesday, 08.30 am

Good Morning all... 

What has happened yesterday? Nifty Index, opened on a positive note at 25551.35, on the opening move it made a high 25593 further it moved down, made a day low 25501.80 and closed on a positive note at 25541.80 with an intra gain 24.75 points, i.e., 0.10%.

What will happen today? 

Nifty Index: Today, we expect the Nifty may open near 25595-25565-25510 levels; if open, trade and sustain above 25595 then, the index may re-test 25610-25645-25670-25685-25720-25760-25785-25825 levels. On the other hand, the immediate support lies at 25500-25470 if, the Index moves below 25470 then, it may try to re-visit 25440-25415-25395-25315-25270-25255-25220 levels.

Special Mention: Yesterday, Nifty Index opened with positive note, unable to surpass above 25600, the consolidation move traded in a range bound, made an inside day pattern i.e., not broken the previous day high or low levels and closed just above our threshold suppot levels i.e., 25535. Today, the Nifty index must trade, sustain and closes above 25595-25645-25685; it may continue the pull back rally to re-test 25760-25830-26020 levels in the near term. On the other hand, the immediate support seen at 25470-25395-25220, further weakness below 25220 then, the Index may try to re-visit 25065-24925-24475 levels in the near term. Let see how the Index opens today near 25595-25565-25510 levels.

Nifty Bank Index: Yesterday, Nifty Bank Index opened on a positive note at 57375.80 on the opening move, it made a low 57150.35 thereafter, it moved up, made a high 57533.85 and closed on a positive note at 57459.45 with an intra gain 146.70 points, i.e., 0.26%,  today Nifty Bank Index must move and sustain above 57530-57565-57615 levels; if to do so, then it may try to test 57725-57800-57980-58100-58225 levels. On the other hand, any weakness near 57530-57565-57615 further, it moves below 57405-57340 then, the Index may re-visit 57220-57150-57100-56985-56785-56720 levels. 

Sensex Index: Yesterday, Sensex opened on a positive note at 83685.66 on the opening move, it made a day high 83874.29 thereafter, it moved down and made a low 83572.51 and closed on a positive note at 83697.29 with an intra gain 90.83 points, i.e., 0.11%, today Sensex must move and sustain above 83765-83875 levels; if to do so, then it may try to re-test 83950-84100-84180-84265-84320-84470-84630 levels. On the other hand, any weakness near 83765-83875 further, it moves below 83620-83570 then, the Index may re-visit 83455-83355-83260-83130-83000-82870-82740 levels.

PUT/CALL Ratio: Over all Nifty Index Put and Call ratio for 01st Jul'25 stands at 0.88 with PUT open interest of 3092227 and CALL open interest of 3504250, when compared with previous day level of 0.81, 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.1970.14 Cr. On the other hand, DIIs continued as a net buyer they bought on the net basis to the tune of Rs.1970.14 Cr.

For the month of July, month to date FIIs/FPIs turned as a net seller, they sold Rs.1970.14 Cr., on the net basis and DIIs continued as a net buyer they bought on the net basis to the tune of Rs.771.08 Cr.

INDIA's Macro Data:-

On 01st July'25-Tuesday, the HSBC Manufacturing PMI data released for the month of Jun'25, it moved up to 58.40 from 58.20 i.e., May'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 May'25 released on 30th Jun'25-Monday, the Industrial production has come down to 1.20%; when compared to the Apr'25 level, i.e., 2.60%. 

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.

DISCLAIMER:

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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