13.03.2020 Friday, 8.29 am 

What has happened yesterday? Nifty index as expected opened on gap down, made a day high at open 10040.75, thereafter the Index nosedived till 9650 till noon, the Option weekly expiry volatility and some value buy lifted the index till our threshold level i.e. 9820, but unable to sustain above this level, further late hour sell-off dragged the Index again till our final support i.e 9500, made a low 9508 and closed the day at 9590.15 on a huge intra loss.

What will happen today? Nifty Index may witness an another gap down and open near 9120-8965 by tracking the global indices, which are trading in deep red over -5% to -10%, if Nifty Index not sustain and take support at 8965 may lead to 8631 which is lower freezing level, if Index test 8631 before 1.00 pm then, the lower circuit breaker trading halt will be enforced for 45 minutes and next support seen at 8430-8160-7893. Likewsie the immediate resistance seen at 9120-9500, further up move above 9500 then, it may re-test 9635-9820-9950-10040.

Special Mention: Last hope for the Nifty index lies at 9120-8965, any violation beyond 8965 and closes below may drag the index till 7895-6826 levels very soon. As mentioned in our special bulletin dated 11th March 2020, this on going correction should end either today or Monday as per time series analysis  else, it may continue till March end or mid April '2020, to read the article click this link: https://www.niftytech.in/marketupdate/54.   

Trading Strategy: We keep on writing and saying, Sell on rise is our mantra, as of now in F&O segment if Nifty Index unless it closes above 10640. BISTA Privilege Members are still holding a Short position continuously in Nifty Futures and keep booking the profit and re-entering the short position at higher levels. Investors may keep invest in parts on the low valuation stocks on the top Nifty-100 stocks for long term perspective till 8965-7895-6826 levels in the Nifty Index. Further details please do call us on 98410 48022/90805 71223 or contact thro' whatsapp: 99624 70636.

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