20.04.2020 Monday, 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 Friday? Nifty Index as per our expectation opened on a positive note with gap up beyond our resistance zone i.e. 9140-9260, made a open and high at 9324, thereafter, the sell-off dragged the Index from 9300 and made a dat low 9091.35 further, the week end volatility once again lifted the index near 9300 and closed the day at 9266.75 on a posiitive note.

What will happen today? Nifty Index may open on a flat note with positive bias to test 9265-9325, if trade and sustain above 9325 then, it may test 9390-9430-9480-9530-9595-9645. On the other hand, the immediate support lies 9225-9176, if trade and sustain below 9176 then, it may re-test 9132-9091-9055-9015-8960-8885-8825.

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 levels in the near term. As expected on Firday the RBI Governor announced some relief to NBFC and Housing sector by allocating Rs.50000 crore and redeuced the reverse repo rate (the interest paid to the Banks by the RBI for their funds parked) by 25 Bps point and clarification on NPA (Non-performing Assets) classification due to the EMI moratorium for 90 days, but these measures not enthused much on the stock market, witnessed a sell-off on Friday. 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.

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