21.04.2020 Tuesday, 8.45 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 positive bias beyond our resistance zone i.e. 9265-9325, made a open and high at 9390, thereafter, the sell-off dragged the Index from 9390, till our support level 9225, made a day low 9230.80 further, volatile move once again lifted the index near day high and closed the day at 9261.85 on a flat note with negative bias.

What will happen today? Nifty Index may open on a negative note with gap down by tracking global indices to test 9090-9055, if trade and sustain below 9055 then, it may re-test 9005-8940-8880-8835-8800-8725. Likewise, the immediate resistance seen at 9160-9240, if trade and sustain above 9240 then, it may re-test 9300-9340-9390-9435-9500.

Special Mention: Nifty Index yesterday reached our threshold level 9390, exactly it made a high 9390.85, but unable to surpass this level and got sold-off, the first leg of pull back rally targets lies at 9390-9600, I was writing this level everyday, it looks it is not so, easy to trade, sustain and close above 9390 in the near term, if Nifty index closes above 9390 for three consecutive trading sessions then, Index got a potential to test 9600-9900. At the same time any close below 9040-8840 for three consecutive trading sessions may drag the Index till 8660-8450-8230 levels very soon. The repercussion of Covid-19 on the economy front, we must wait and watch how it evolve from this point. 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: Try to encash the short term BUY by booking the profit unless 9390 surpass and closes above 9390 and sit with CASH, once again the Nifty may re-test 8000-7800 levels, use that opportunity, if comes in Cash segment for short term perspective for 10-20% return 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.  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.