*31st Jan 2025 Markets outlook for the day* #usmarkets - Yesterday - US markets closed positive despite tech rout led by industrials and energy stocks. US futures trade positive in early morning trades after megacap earnings beat estimates. Global markets sentiment neutral to negative. Most Asian markets closed on Chinese new year holidays, Japanese markets trade positive in early hours. Indian markets sentiment neutral to positive in near term with positive close in last 3 sessions. Fundamental Longterm view neutral, Nifty index trading at 19/PE on FY26E valuations & on 20/PE on FY25E valuations. Bank nifty index trading at 14 P/E of FY25 valuations with 2.3 times PBV. Gift Nifty indicate positive opening. India VIX fall at 17.39 from 18.65 as Indian markets saw a positive close on short covering session. Global currency and Bonds- US Dollar index bounce at 107.90 from 107.63 on trump fresh tarrif threats. US 10 yr Bond yields muted at 4.53 from 4.54 Global Commodities - Comex Gold trades hugher at 2855 from 2800 near all time highs as Trump tarrifs uncertainty pushes safe-Haven Gold to record highs. Comex Silver trade higher at $32.95 from $31.65 at 6 months high on Rate cuts by ECB and other central banks. Comex copper trades muted at $4.32 from 4.31 Brent Crudeoil trade positive at $76.50 from 75.60 on US PCE data Natural Gas prices muted at 3.09 from 3.16 despite milder weather conditions. Indian markets Derivatives data - Fii's were net sellers of  -4583Cr in cash markets in previous trading session while Dii's were net buyers of +2166Cr in cash market. Continued FII'S selling is worry for Indian markets. Feb series Fii's are negative in index fut & reduced shorts in index fut to -204k contracts from -226k shorts in index fut and added net longs in stock fut. Pro traders are net buyers in index fut of +8k and net longs stock futures. Dii's were net longs in index fut of +15k and net shorts in stock futures. Retail are net positive in index futures and reduced longs in index fut to +235k from +255k contracts longs and net longs in stock futures. Options data - Feb Nifty Monthly expiry has highest put writing at 22800/23000 strike and 24000/24200 strikes has highest call writers. Nifty Feb Weekly expiry has highest put writing at 23100/23000 & 23500/23600 strikes has highest call writers. Bank nifty Feb Monthly expirye saw major call writing at 51000/50500 strike and major put writing seen until 48500/48000 strike. Sensex Feb weekly expiry saw major call writing at 78000/77500 strikes and Major put writing seen at 75500/76000 PCR Ratio of Nifty PCR at 0.92 from 1 .06 and Bank nifty PCR at 0.93 from 0.79 Sensex PCR at 0.87 from 0.95 Indices performance - Last trading session saw positive session in broader markets and selling pressure in midcap, smallcap indices. Indian markets saw positive session across sectors and positive Market breadth. Fmcg, Financials, banks, Reality, Pharma, midcap & Smallcap saw buying while pressure was in metals, Media, IT, AUTO sectors. Market news - Trump tarrifs threats on Canada, Mexico & Brics nation is a worry for markets. Technical view : Yesterday #nifty opened positive and traded sideways to volatile throughout the day with buying seen on intraday dips to close positive at 23249 with positive Market breadth of 10:7 Adv:Dec Ratio. Nifty trading above 5EMA 23125 & above 10 EMA 23155 and below 20EMA 23325 & below 50 EMA 23730 Nifty range shifted to 22800-23600 zone for next few sessions ahead, Nifty major trend is neutral to positive and buy on dips. Today's Nifty big support is at 23085/23120 zone & big resistance at 23355/23335 Nifty trading below 200EMA 23600 and below 200 SMA 23970 & below 100 EMA 23905 zone. Today Nifty minor support seen at 23145/23160 while major support seen at 23085/23105 While minor resistance seen at 23305/23285 zone while major resistance seen at 23360/23335 zone. Daily CPR at 23107 Weekly CPR at 23165 Monthly CPR at 23987 Nifty structure is neutral to positive in short term. Nifty fut closed positive +0.72%. Nifty fut OI at 1.73Cr with long unwinding & addition in OI by +23.95% and rollovers of 60% into feb series with neutral bais and buy on dips with 23026/23060 as stoploss. Yesterday #banknifty opened flat and traded in a narrow consolidation zone & positive trend throughout the day to close positive at 49311. Major support seen at 48840/48880 zone and major resistance at 49590/49530 zone. Banknifty trades above 5 EMA of 49004 and above 10 EMA 48915 and trading just at 20 EMA 49360 & above 20 SMA 49090 and below 50EMA 50340 and trading below 100EMA 50750 & Bank nifty trading below longterm avg of 200EMA 50220/50805 200 SMA. For today Bank nifty minor support seen at 49120/49160 zone while major support seen at 48885/48920 zone and minor resistance seen at 49430/49440 zone while major resistance seen at 49590/49545 zone Daily CPR at 49070 Weekly CPR at 48696 Monthly CPR at 51780 Bank nifty view is neutral to positive in short term with range of 48000-50500. Bank nifty fut closed positive +0.60% with open interest at 29.80 lakhs & long unwinding with addition in OI at +22.35% with 65% rollovers into Feb series with neutral to positive bais and buy on dips with stoploss at 48920/48860. Sectors to watch today- Positive/neutral- Banking, Reality. Telecom, Defence sectors, Psubank, Financials, Capital goods, Fmcg. Negative/neutral - IT, Metals, Media, Energy, Infra, Midcaps, Smallcap, Pharma. Stocks to watchout today- POSITIVE- Bob, Srf, BEL, KPIT, Navinflourine, IRFC, Lalpathlabs, Lauruslabs, RBLBANK, CESC, Jubfood, Tatamotors. NEGATIVE- Cams, Tataconsumers, ABB, Mphasis, PAYTM, Coforge, Policybazaar, Jindalsteel, Gail, Voltas, Cdsl. Good morning!!! Have a Good trading day!!! 👍