24.07.2025-Thursday, 08.30 am

Good Morning all... 

What has happened yesterday? Nifty Index, opened on a positive note at 25139.35, on the opening move it made a low 25085.50 further it moved up, made a high 25233.50 and closed on a positive note at 25219.90 with an intra gain 159 points, i.e., 0.63%.

What will happen today? 

Nifty Index: Today, we expect the Nifty may open on near 25185-25255-25275 levels; if open, trade and sustain above 25275 then, the index may re-test 25300-25330-25370-25400-25435 levels. On the other hand, the immediate support lies at 25145-25110 if, the Index moves below 25110 then, it may try to re-visit 25085-25045-25025-24995-24970 levels.

Special Mention: Yesterday, Nifty Index opened on a positive note, on opening move, made a low 25085.50, took support at 25090 thereafter, it moved up and tested 25233.50 and closed above 25185 level. Today, the Nifty index must trade, sustain and closes above 25255-25330; it may continue the pull back rally to re-test 25370-25440-25500 levels in the near term. On the other hand, the immediate support seen at 25085-25025-24970, further weakness below 24970 then, the Index may try to re-visit 24880-24740 levels in the near term. Let see how the Index opens today near 25185-25255-25275 levels.

Nifty Bank Index: Yesterday, Nifty Bank Index opened on a positive note at 56918.15 on the opening move, it made a low 56715.80 thereafter, it moved up, made a high 57249 and closed on a positive note at 57210.45 with an intra gain 454.45 points, i.e., 0.79%,  today Nifty Bank Index must move and sustain above 57275-57325-57395 levels; if to do so, then it may try to test 57465-57570-57630-57820-58015 levels. On the other hand, any weakness near 57275-57325-57395 further, it moves below 57090-56960 then, the Index may re-visit 56865-56715-56615-56450 levels. 

Sensex Index: Yesterday, Sensex opened on a positive note at 82451.87 on the opening move, it made a day low 82279.73 thereafter, it moved up and made a high 82786.43 and closed on a positive note at 82726.64 with an intra gain 539.83 points, i.e., 0.66%, today Sensex must move and sustain above 82785-82935-83030 levels; if to do so, then it may try to re-test 83140-83230-83320-83435-83550-83680-83810 levels. On the other hand, any weakness near 82785-82935-83030 further, it moves below 82665-82495 then, the Index may re-visit 82395-82280-82225-82140-82060 levels.

PUT/CALL Ratio: Over all Nifty Index Put and Call ratio for 23rd Jul'25 stands at 1.14 with PUT open interest of 3628700 and CALL open interest of 3170661, when compared with previous day level of 0.84, 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.4209.11 Cr. On the other hand, DIIs continued as a net buyer they bought on the net basis to the tune of Rs.4358.52 Cr.

For the month of July'25, month to date FIIs/FPIs continued as a net seller, they sold Rs.26395.04 Cr., on the net basis and DIIs continued as a net buyer they bought on the net basis to the tune of Rs.35070.26 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 June'25 released on 03rd Jul'25-Thursday, it moved up to 61.00 from 59.30 i.e., May'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 Jun'25 released on 14th Jul'25-Monday, the inflation has come down to 2.10% from May'25 level i.e., 2.82%.

WPI Inflation data for the month of Jun'25 released on 14th Jul'25-Monday, it has come down further to the negative side i.e., -0.13% as against the May'25 level i.e.,0.39%.

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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