16.04.2020 Thursday, 8.39 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 yesterday? Nifty Index opened as per our expectation on a positive note with gap up at our resistance zone i.e. 9170-9240, made a day high 9261.20 thereafter, the strong sell-off dragged till 8874.10 with high volatility move and closed the day at 8925.30 on a negative note.

What will happen today? Nifty Index may open on a flat with negative note to test 8875-8835-8800, if trade and sustain below 8800 then, it may re-test 8755-8705-8655-8585-8520-8430. On the other hand, the immediate resistance seen at 8965-9040, if trade and sustain above 9040  then, it may re-test 9070-9110-9135-9180-9220-9260-9305-9390.

Special Mention: We expect a range bound move with high range consolidation in the Nifty Index between 7800-9390. Though, the Nifty Index yesterday surpassed 9130 but unable to close above either 9130 or atleast 9040 levels, the sell-off dragged once again below 9040, yesterday's high and low very important to watch out, unless the index closes above 9040-9130 levels for three consecutive trading sessions, then 9390-9500 is difficult to test in the near term. 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 very soon. High volatility on the card due to weekly option expiry falls today. The current trading pattern shows that, the consolidation may continue and the market is waiting for some more stimulus announcement, but yesterday only the guidelines on lockdown relaxation was announced, it was disappointed the Market, further the global selling pressure dragged the Index till 8874. Lets wait till 20th April'20, for further economic stimulus package. 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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