16.03.2020 Monday, 8.40 am 

What has happened on Friday? Nifty index as expected opened on gap down, made a lower freeze at 8555.15, after a brief trading halt by 45 minutes, again opened and moved up till 10159.40 due to bottom fishing, mostly by Domestic Funds and closed the day at 9955.20 with positive note.

What will happen today? Nifty Index may open with gap down with negative bias to test 9770-9650 by tracking the global indices, which are trading in negative, if Nifty Index not sustain and take support at 9650 then, further sell-off may drag the Index till 9550-9415-9365-9255-9150-8930. On the other hand the immediate resistance seen at 9950-10035, further up move and sustain above 10035  then, it may re-test 10160-10295-10335-10440-10545.

Special Mention: Worst is not over, it is evident by the measures taken by major countries and they are expecting more weakness, the emergency rate cut announced by FED reserve yesterday by 100 Bps point i.e 1%, keeping the FED rate 0.25-zero percentage to tackle the economy, infers the seriousness. Nifty Index may trade in a vast range 8550-10295 in the near term with high volatility.

Trading Strategy: SELL on rise is our mantra, as of now in F&O segment if Nifty Index unless it closes above 10300 for three consecutive trading sessions or try to BUY  near 8555 in Nifty Index levels.  Investors may keep invest in parts on the low valuation stocks on the top Nifty-100 stocks for long term perspective till 9000-8555 levels in the Nifty Index or for a short term play and book profit for 5-10% profit. Further details please do call us on 98410 48022/90805 71223 or contact thro' whatsapp: 99624 70636.

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