*Daily Nifty 7th February 2025 Friday* *What We discussed Yesterday: Nifty was 23696* Considering the close below 100/200 EDMA yesterday the important level to track today should be 23680. The temporary fall for 2-3 days could again re-enter if & only if Nifty falls below 23680 and in such a case we may see the temporary fall towards 23523. Supportive attempts must be seen here. Nifty sustaining above 23523 can help recover later towards 24200 in the next few days. Hence, it would be highly advisable to track 23680 closely today for the decisive move ahead. The whole range of 23550 to 21716 is the strong buying zone ahead in the Near term with the recovery target for 25907. Anyway strategy should be simple, buy during falls and avoid buying during rallies. *What Happened Yesterday: Nifty is 23603* As discussed yesterday, Nifty fell below 23680 & hence we saw the fall till 23556 which was little bit less then estimated, the fall was exactly till 50 EDMA. Yesterday, ahead of the RBI MPC meet we saw Nifty making the lower high lower low and the lower close, but above 50 EDMA supportive level. During the last 8 days of “x” phase recovery we saw a bounce of 1020 Points. Last week was the 1st week for Nifty making weekly higher high higher low and the higher close after long fall and this is the 2nd week in a row. We can assume the end of the 36 day fall on 27th Jan & currently Nifty is towards the recovery phase “x” which could be seen overall till 25530 to 25907 in nearly 82 days which comes on 21st May. The correction in Nifty started from 30th September & we saw the total damage of 3490 points in the total 90 days (82+9) which is 13.3% damage. The fall can be splitted into 4 phases. The first fall ‘a’ phase was seen for 36 days & 3014 points (-11.5%) which was followed by the “b” recovery phase consuming just 10 days & 1595 points which was 6.9% recovery. The Nifty entered in “c” fall which started from 6th December consuming exactly 36 days (similar to “a” fall) and 2071 points damaging 8.3% again. Total damage (-a+b-c) = 3490 points (-13.3%). From the 1st month itself we have set the 2 lower targets 23550 & 21716. Till now we have already seen the Nifty triggered 23550 with the low of 22787. Anyway, Nifty has now entered the “x” recovery wave which could be seen till 25530 to 25907 in nearly 82 days where again Nifty could be trapped. We should consider the whole range of 23550 to 21716 as the strong buying zone and do SIP more as strong recovery in the “x” phase towards 25530 to 25907 should be seen where some profits can be booked. Enjoy the whole correction to take the benefits of long term investing. We saw the recovery in the Nifty for the last 9 days assuming that the “x” phase has started from 27th January and could last till 21st May with the recovery towards 25907. Today’s MPC meet will play a pivotal role in the direction for Nifty. *What to expect Today: Nifty is 23603* Considering the MPC meet decision today the important level to track today should be 23774 yesterday’s high. Nifty’s strength to move and sustain abov …full report at: https://profitfromit.co.in/course/NIFTY-50-Daily-Tracker-Stock-Market-Index/lessons/419/read +ve Indices: -ve Indices: *Crude:* CMP: 70.54 Fall towards 69 could be seen if Crude sustain below 71.3. *USDINR:* 87.6 Today’s MPC meet will further guide the directional move. USDINR if falls & sustain below 87.3 then only the fall towards 86.25 could be seen. *Insider Stories: Big Fish Activities* 📈 **SBI MF Bought Rallis India** on 31/01/24 in the quantity of 14.92 Lakh shares, which is a big 0.76% stake. Now they hold 9.16% stake. 📉 **Tata Balanced Advantage Fund Sold Yatra Online** on 31/01/25 in the quantity of 37645 shares, which is a big 0.02% stake. Now they hold 2.48% stake. 📈 **Kotak Mahindra MF Bought Suraksha Diagnostic** on 31/01/24 in the quantity of 5733 shares, which is a big 0.01% stake. Now they hold 5% stake. 📈 **Counter Cyclical Investment Bought T & I Global** on 31/01/24 in the quantity of 5909 shares, which is a big 0.12% stake. Now they hold 5.26% stake. 📈 **Counter Cyclical Investment Bought DHP India** on 31/01/24 in the quantity of 3709 shares, which is a big 0.13% stake. Now they hold 6.39% stake. DISCLOSURE: FOR EDUCATION PURPOSES, DO NOT TREAT AS A RECOMMENDATION Nifty Daily/Weekly/Monthly/Yearly Updates only at: https://profitfromit.co.in/course/NIFTY-50-Daily-Tracker-Stock-Market-Index/lessons/419/read