15.04.2020 Wednesday, 8.30 am 

Hi Readers

My humble and sincere request to all the readers of this article, to obey the lockdown and STAY HOME-STAY SAFE, till 03rd May'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 Monday? Nifty Index opened as per our expectation with flat note, made a high at 9103 thereafter, the sell-off dragged till our support level i.e. 8904, made a day low 8912.40, the volatile move lifted the Index till day high, once again witnessed a sell-off till day low and closed the day at 8993.85 on a negative note.

What will happen today? Nifty Index may open on a positive note with gap up to test 9170-9240, if trade and sustain above 9240 then, it may re-test 9305-9385-9415-9470-9510. Likewise, the immediate support lies at 9140-9040, if trade and sustain below 9040  then, it may re-test 8980-8945-8905-8835-8755-8690-8655.

Special Mention: We expect a range bound move with high range consolidation in the Nifty Index between 7800-9200. On Monday, the Nifty Index once again tried to surpass 9130 but unable to cross this level and not closed above our threshold level i.e. 9040, it should cross 9132 and close three consecutive trading sessions 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 either today or tomorrow, the lockdown as expected extended till 03rd May'20, the manufacturing activities may start from 21st April'20 in phassed manner, till then the Index may trade in a range bound between 8500-9400. 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 15-30% 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 9390 for three consecutive trading sessions or risk trader may try to BUY near 8500-8000 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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