Daily Morning Report – 3/10/25

Daily Morning Report                     Date: 03.10.2025

NIFTY OUTLOOK: 24836.30 FII -1605.20 cr DII 2916.14 cr

As discussed yesterday, market behaviour remained on expected lines, as bulls took advantage of losing downward momentum and pushed Nifty up to 24867.95.

A long bullish candle on the daily chart suggests prices have reached support after correction, shifting short-term sentiment to bullish. If Nifty sustains above 24883, it may rally to 24930–24975, with chances to test 25023 if demand strengthens.

On the downside, 24790–24743 may act as immediate support. A break below could drag Nifty to 24697–24651.

Bank Nifty OUTLOOK:

SPOT: 55347.95 Pcr: 1.10 Max CE OI: 57000 Max PE OI: 55000

On October 1st, 2025, Bank Nifty closed at 55347.95 (+712.10 / +1.30%), with a movement of 824.20 points. It made a high of 55406.75 and a low of 54582.55.

Technical view:

Support and resistance levels are 54750 and 55750.

Intraday support and resistance are 55121 and 55574.

Trading Strategy:

Go long above 55574 with SL 55499 and target 55801.

Go short below 55121 with SL 55196 and target 54894.

RSI for Bank Nifty is at 55.30 (below 30 = oversold, above 70 = overbought).

Bank nifty Day SMA Analysis:

Bank nifty is trading above 7 out of 8 SMA’s (5, 10, 20, 30, 50, 150, 200 Day).

Bank nifty is trading below 1 out of 8 SMA’s. (100, Day)

One bullish candlestick Pattern was identified in bank nifty.

• Long Line Uptrend

Macros:

1. Dollar index @ 97.597
2. S&P 500 vix @ 16.21
3. Brent crude @ 65.16
4. 4.10 years bond yields is @ 4.117

Note:

After Trump’s tariffs, new trade alignments are emerging. Major economies hit by U.S. tariff measures are diversifying trade, and India is no exception, having faced strong tariff pressure. India has been actively negotiating new agreements.

The EFTA trade pact came into effect on Wednesday. New Zealand has revived talks after a decade and aims for a deal within two months. India is also negotiating with Chile, Oman, Peru, the EU, and has launched talks with the Eurasian Economic Union (Armenia, Belarus, Kazakhstan, Kyrgyz Republic, Russia).

These agreements will take time to show impact, but over the years they will help absorb the tariff shock from the U.S., supported by government measures like GST reforms, income tax relief, and RBI’s liberal policy.

Contributed by
Ashok bhandari : INH000019549