22.04.2020 Wednesday, 8.40 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 with gap down beyond our support zone i.e. 9090-9055, made a open at 9016, thereafter, the sell-off dragged the Index till 8970, further Intra pull back rally lifted the Index till 9044 but unable to sustain above our threshold level 9040, further profit booking dragged once again near our support level 8880, made a day low at 8909.40 and closed the day at 8981.45 on a negative bias.

What will happen today? Nifty Index may open on a flat note with negative bias to test 8940-8910, if trade and sustain below 8910 then, it may re-test 8885-8825-8800-8725-8660-8615-8565. Likewise, the immediate resistance seen at 9010-9040, if trade and sustain above 9040 then, it may re-test 9095-9145-9205-9255-9295-9325-9390.

Special Mention: Nifty Index yesterday closed below 9040, watch today and tomorrow, if Nifty Index closes below 9040, may test 8800-8665-8500 levels very soon. Also, be prepared for high volatility move in the Index, due to option weekly expiry falls tomorrow. I was writing 9390 is a major hurdle level to surpass to test 9500-9600, looks it is not so, easy to trade, sustain and close above 9390 in the near term.  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 this level and sit with CASH, once again the Nifty may re-test 8500-8000-7800 levels, use that opportunity and Invest to trade 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.