20.03.2020 Friday, 8.46 am 

What has happened yesterday? Nifty index as expected opened on a gap down with negative bias beyond our support zone i.e 8210-8148, made a day low 7832.55 thereafter, the strong pull back with Option weekly expiry volatility lifted the Index till our resistance level 8550, made a day high 8575.45 and closed the day with high volatility at  8263.45 with negative bias.

What will happen today? Nifty Index may open on a flat note with positive bias by tracking the global indices, to test 8220-8310, if trade and sustain above 8310 then, it may re-test 8430-8555-8620-8735-8850. On the other hand, the immediate support lies at 8215-8120, if trade and sustian below 8120 then, it may re-test 7980-7920-7835-7630-7487-7300

Special Mention: As written in the Nifty Special Bulletin dated: 16th March'20, the Nifty Index yesterday reached the first target 7988, as per the corrective wave pattern. We anticipated the short term reversal, that has also happened, it may continue today also till 8800-9000 levels, if Nifty sustain today above 8555. As of now the low made in yesterday's trade i.e 7832.55, holds strong support and becomes a short term bottom, as long as the Index not violate this bottom then, not to worry. We should wait and watch the further move and close above 8555 for three consecutive trading sessions is a must to the Nifty index for a counter upmove. To read our special bulletin please click this link:https://www.niftytech.in/marketupdate/54

Trading Strategy: SELL on rise is our mantra, as of now in F&O segment, if Nifty Index unless it closes above 10000 for three consecutive trading sessions or try to BUY near 7980-7830 in Nifty Index levels and book profit then and there. BISTA Privilege members are continuing the short position in Nifty Futures, by booking the profit at low level and re-enter again at high level.

Investors/traders may keep invest in parts on the low valuation stocks on the top Nifty-50 stocks for long term perspective till 8000-7830 levels in the Nifty Index or for a short term play and book profit for 5-10% profit if, Nifty Index 9000 level not break. Further details please do call us on 98410 48022/90805 71223 or contact thro' whatsapp: 99624 70636.

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