09.04.2020 Thursday, 8.37 am 

Hi Readers

My humble and sincere request to all the readers of this article, to obey the 21 day Government curfew and STAY HOME-STAY SAFE, till 14th April'20, to avoid further consequences and complication, either in the economic front or on social front, our health is very, very important to all of us, with a unity we will come out of this situation very quickly and have a positive hope to return normal life very soon....

What has happened yesterday? Nifty index contrary to our expectation opened with negative bias with gap down till our support zone i.e.8720-8660, made a day low 8653.90 thereafter, the Index non-stop movement with strong pull back till our resistance level i.e 9155, made a day high 9131.70, unable to  surpass 9155, the strong sell-off once again dragged till the day low and closed the day at 8748.75 on a flat note with negative bias.

What will happen today? Nifty Index may open on a positive bias, to test 8810-8920, if trade and sustain above 8920 then, it may re-test 8990-9040-9130-9195-9260-9325-9390. Likewise, the immediate support lies at 8750-8655, if trade and sustain below 8655 then, it may re-test 8593-8525-8460-8360-8310-8220-8180-8055.

Special Mention: We expect a range bound move with high range consolidation in the Nifty Index between 7500-9200. Yesterday, the Nifty Index broken the threshold level i.e.9040, though it moved till 9131.70, it was not able to close above 9040, if the Index cross 9132 and closes above 9040 today and Monday then, the counter rally continues with the target 9390-9500-9640. Likewise, the weakness only below 8055 if, the Index trades, sustain and closes below 8055 for three continuous trading sessions then, it may re-test 7985-7835-7715-7511. The current trading pattern shows that, the consolidation may continue and the market is  waiting for some more stimulus announcement from the Govt and the confirmatiion about the lockdown whether, it will be extended for some more weeks or lifting the lockdown in phased manner, till then the Index may trade in a range bound between 8000-9100-9400. Once again I am reiterating that the Index bottemed out at 7500 levels for time being unless, any unexpected worse thing happens in the near term, till then this level may act as a strong support. Please refer our earlier Nifty Special Bulletin dated: 28th Feb'20, 16th Mar'20 and 29th March'20, to read our special bulletin please click this link: https://www.niftytech.in/marketupdate/54

Trading Strategy: It is a traders market and use this opportunity to trade in Cash segment for short term perspective for 10-20% returm in Nifty50 low valuation stocks.  Safe trader/investor maintain 'CASH IS THE KING' approach and SELL on rise is also continues as of now in F&O segment, if Nifty Index unless it closes above 9040 for three consecutive trading sessions or risk trader may try to BUY near 7900-7500 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. Further details please do call us on 98410 48022 or contact thro' whatsapp: 99624 70636.

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