17.04.2020 Friday, 8.36 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 as per our expectation opened on a negative note near our support zone i.e.8875-8835-8800, made a day low 8821.90 thereafter, the option expiry volatility ruled the Index and lifted till our resistance level i,e. 9040, made a high at 9053.75 and closed the day at 8992.80 on a posiitive note.

What will happen today? Nifty Index may open on a positive bias with gap up by tracking the global indices, to test 9140-9260, if trade and sustain above 9260 then, it may re-test 9305-9390-9430-9480-9530-9595-9645. Likewise, the immediate support lies 9130-9040, if trade and sustain below 9040  then, it may re-test 8960-8885-8820-8740-8655.

Special Mention: It looks the short term bounce till 9500 is possible in the Nifty Index, if trades and sustain above 9260-9390 levels, further close above 9390 for three consecutive trading sessions may pave the way to test 9500-9680-9950 levels in the near term. Suddenly some optimism seen in the global indices, due to the impact of Covid-19 is deteriorating and slowly the normal life may start across the world. The repercussion of Covid-19 on the economy front, we must wait and watch how it evolve from this point. Likewise, the Nifty Index may weaken only if trade, sustain and closes below 8820 for three consecutive trading sessions then, it may re-test 8655-8055.  Once again I am reiterating that the Index bottemed out at 7500 levels 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. 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 8800-8600-8100 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.

Please read carefully, the Disclaimer published on the Disclaimer page. Wishing you for a safe and secured trading.