*3rd Feb 2025 Markets outlook for the day* #usmarkets - Friday - US markets closed negative on Trump Tarrifs imposition on Canada, Mexico & china. Markets estimates slower growth and bump in inflation on tarrif wars. US futures tumble as trump imposes trade tarrifs. Mexico & Canada too imposes retaliatory Tarrifs on US Goods & services. Global markets sentiment neutral to negative on restart of Global tarrif wars. Most Asian markets negative on tariff wars and fears of slow down and rise in inflation. Indian markets sentiment neutral in near term post Budget session on positive Budget broader contours. 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 negative opening on global tariff fears. India VIX fall at 14.10 from 17.35 as Indian markets saw a positive close on short covering rally. Global currency and Bonds- US Dollar index bounce sharply to 109.60 from 107.93 on trump fresh tarrif imposition. Canadian dollar at 2003 lows on fears of recession on tarrif wars. US 10 yr Bond yields muted at 4.52 from 4.53 Global Commodities - Comex Gold trades lower at 2811 from 2860 from all time highs as Trump tarrifs threats pushes dollar rise sharply. Comex Silver trade lower at $31.80 from $32.95 on tarrif imposition by US. Comex copper trades lower at $4.19 from 4.32 Brent Crudeoil trade muted at $76.05 from 76.50 on tarrif wars. Natural Gas prices higher at 3.32 from 3.09 suplly disruptions. Indian markets Derivatives data - Fii's were net sellers of  -1327Cr in cash markets in previous trading session while Dii's were net buyers of +824Cr 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 -201k contracts from -204k shorts in index fut and added net longs in stock fut. Pro traders are net buyers in index fut of +5k and net longs stock futures. Dii's were net longs in index fut of +10k and net shorts in stock futures. Retail are net positive in index futures and reduced longs in index fut to +209k from +235k 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 23100/23200 & 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 47500/48000 strike. Sensex Feb weekly expiry saw major call writing at 78000/78500 strikes and Major put writing seen at 76500/76000 PCR Ratio of Nifty PCR at 0.87 from 0.92 and Bank nifty PCR at 0.79 from 0.93 Sensex PCR at 0.79 from 0.87 Indices performance - Budget trading session saw positive session in broader markets with mixed session across indices. Indian markets saw positive session across sectors and positive Market breadth. Auto, Fmcg, Financials, banks, Reality, Pharma, midcap & Smallcap saw buying while pressure was in metals, Media, IT sectors. Market news - Trump tarrifs imposition on Canada, Mexico & china tumbles markets across globe. Technical view : Budget sess88buying seen on intraday dips to close flat at 2482U57 with positive Market breadth of 1:1 Adv:Dec Ratio. Nifty trading above 5EMA 23335 & above 10 EMA 23265 and below 20EMA 23355 & below 50 EMA 23720 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 23285/23250 zone & big resistance at 23655/23635 Nifty trading below 200EMA 23600 and below 200 SMA 24005 & below 100 EMA 23890 zone. Today Nifty minor support seen at 23345/23330 while major support seen at 23285/23255 While minor resistance seen at 23555/23585 zone while major resistance seen at 23660/23635 zone. Daily CPR at 23444 Weekly CPR at 23280 Monthly CPR at 23507 Nifty structure is neutral to positive in short term. Nifty fut closed flat -0.22%. Nifty fut OI at 1.69Cr with long unwinding & addition in OI by +1.95% , buy on dips with 23026/23060 as stoploss. Last trading session #banknifty opened flat and traded in a narrow consolidation zone & volatility trend throughout the day to close flat at 49506 Major support seen at 48880/48920 zone and major resistance at 50050/50010 zone. Banknifty trades above 5 EMA of 49270 and above 10 EMA 49089 and trading above 20 EMA 49380 & above 20 SMA 49010 and below 50EMA 50280 and trading below 100EMA 50710 & Bank nifty trading below longterm avg of 200EMA 50220/50805 200 SMA. For today Bank nifty minor support seen at 49020/48980 zone while major support seen at 48585/48620 zone and minor resistance seen at 49630/49670 zone while major resistance seen at 49840/49865 zone Daily CPR at 49420 Weekly CPR at 48890 Monthly CPR at 49730 Bank nifty view is neutral to positive in short term with range of 48500-50500. Bank nifty fut closed flat -0.17% with open interest at 33.80 lakhs & long unwinding with addition in OI at +6.35%,buy on dips with stoploss at 48520/48560. Sectors to watch today- Positive/neutral- Fmcg, Auto, 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- Eichermot, Asianpaints, Bergerpaints, HUL, Dmart, Zomato, Trent, Lodha, Bataindia, Crompton, JUBFOOD, Indhotel, Indigo. NEGATIVE- Hudco, Irfc, Irctc, Siemens, ABB, Rec, Supremeind, Jswenergy, Escorts, HAL, Bharatforge, Bhartiairtel. Good morning!!! Have a Good trading day!!! 👍