*4th Feb 2025 Markets outlook for the day* #usmarkets - Yesterday US markets closed negative but recovered sharply as Trump talks pause the tariffs on canada & mexico by a month. US futures jump as trump delays tariffs Global markets sentiment neutral . Most Asian markets positive on pause of tarrifs. 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 flat at 14.35 from 14.10 as Indian markets saw recovery despite a negative close yesterday. Global currency and Bonds- US Dollar index fall sharply to 108.60 from 109.63 on tarrif pause. US 10 yr Bond yields muted at 4.56 from 4.54 Global Commodities - Comex Gold trades rebound at 2855 from 2811 near all time highs on dollar weakness. Comex Silver trade positive at $32.50 from $31.75. Comex copper trades higher at $4.34 from 4.19 Brent Crudeoil trade muted at $75.55 from 76.05 on pause of tarrifs. Natural Gas prices muted at 3.34 from 3.29 supply disruptions. Indian markets Derivatives data - Fii's were net sellers of  -3958Cr in cash markets in previous trading session while Dii's were net buyers of +2708Cr 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 -176k contracts from -201k 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 +198k from +209k 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 0.87 and Bank nifty PCR at 0.79 from 0.79 Sensex PCR at 0.95 from 0.79 Indices performance - Yesterday trading session saw positive session in broader markets with mixed session across indices. Indian markets saw recovery from lows with session across sectors and muted and negative Market breadth. IT, Auto, Fmcg, Financials, banks, Reality, Pharma, midcap & Smallcap saw buying while pressure was in metals, Media sectors. Market news - Trump tarrifs pause has seen relief in global markets. Technical view : Yesterday session saw buying seen on intraday dips to recover from lows to close negative at 24367 with negative Market breadth of 1:3 Adv:Dec Ratio. Nifty trading above 5EMA 23340 & above 10 EMA 23275 and above 20EMA 23355 & below 50 EMA 23700 Nifty range shifted to 23000-23800 zone for next few sessions ahead, Nifty major trend is neutral to positive and buy on dips. Today's Nifty big support is at 23205/23220 zone & big resistance at 23655/23635 Nifty trading below 200EMA 23590 and below 200 SMA 24010 & below 100 EMA 23880 zone. Today Nifty minor support seen at 23285/23270 while major support seen at 23220/23205 While minor resistance seen at 23455/23445 zone while major resistance seen at 23560/23535 zone. Daily CPR at 23475 Weekly CPR at 23280 Monthly CPR at 23507 Nifty structure is neutral to positive in short term. Nifty fut closed flat -0.49%. Nifty fut OI at 1.73Cr with long unwinding & reduction in OI by -4.95% , buy on dips with 23226/23160 as stoploss. Last trading session #banknifty opened flat and traded in a narrow consolidation zone & buy on dips throughout the day to close negative at 49210 Major support seen at 48950/48920 zone and major resistance at 50050/50010 zone. Banknifty trades at 5 EMA of 49230 and above 10 EMA 49099 and trading below 20 EMA 49370 & above 20 SMA 48950 and below 50EMA 50240 and trading below 100EMA 50650 & Bank nifty trading below longterm avg of 200EMA 50210/50845 200 SMA. For today Bank nifty minor support seen at 49120/49080 zone while major support seen at 48965/48920 zone and minor resistance seen at 49530/49570 zone while major resistance seen at 49740/49725 zone Daily CPR at 49480 Weekly CPR at 49030 Monthly CPR at 49700 Bank nifty view is neutral to positive in short term with range of 48500-50500. Bank nifty fut closed negative -0.53% with open interest at 32.10 lakhs & long unwinding with reduction in OI at -4.05%,buy on dips with stoploss at 48920/48860. Sectors to watch today- Positive/neutral- Fmcg, Auto, Banking, Reality. Telecom, Defence sectors, Psubank, Financials, Capital goods, Fmcg, IT, Metals, pharma. Negative/neutral - Media, Energy, Infra, Midcaps, Smallcap. Stocks to watchout today- POSITIVE- Divislab, Cholafin, Bajajfinance, L&Tfin, Paytm, SRF, Jindalsteel, Tvsmot, Maxhealth, Coforge, Industower, Bhartiairtel, IRFC. NEGATIVE- Tatachem, Powergrid, Bajajauto, Siemens, Hudco, Ncc,HPCL, Jswenergy. Good morning!!! Have a Good trading day!!! 👍