13.04.2020 Monday, 8.35 am 

Hi Readers

My humble and sincere request to all the readers of this article, to obey the 21 day 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 on Thursday? Nifty index opened as per our expectation with positive note beyond our hurdle zone i.e. 8810-8920, it made high near 9026 thereafter, the sell-off dragged till 8904.55, the high volatility ruled the Index throughout  the day and late hour short covering due to long weekend lifted the Index till our resistance level i.e. 9130, made a day high 9128.35 and closed the day at 9119.20 on a positive bias.

What will happen today? Nifty Index may open on a flat note with mild negative bias, to test 9060-9000, if trade and sustain below 9000 then, it may re-test 8955-8904-8860-8815-8775-8710-8660. On the other hand, the immediate resistance seen at 9132-9190, if trade and sustain above 9190  then, it may re-test 9265-9325-9385-9405-9480-9510.

Special Mention: We expect a range bound move with high range consolidation in the Nifty Index between 7800-9200. On Thursday, the Nifty Index once again tried to surpass 9130 but unable to cross this level and closed above our threshold level i.e. 9040, being a first closing session, it should cross 9132 and close above today and Wednesday above 9040, may pave the way to test 9380-9500 levels very soon. Likewise, the weakness only below 9040 if, the Index trades, sustain and closes below 9040 for three continuous trading sessions then, it may re-test 8660-8470-8220-8000 levels in the near term. 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 8000-9200. 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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