23.04.2020 Thursday, 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 yesterday? Nifty Index contrary to our expectation opened with positive note at our resistance zone i.e. 9010-9040, thereafter, the minor sell-off dragged the Index till our support zone i.e.8940-8910, made a low 8946.25, further the pull back rally lifted the Index throughout the day till our further resistance level i.e 9205, made a day high at 9209.75 with volatile move and closed the day at 9187.30 on a positive bias.

What will happen today? Nifty Index may open on a flat note to test the support levels at 9165-9120, if trade and sustain below 9120 then, it may re-test 9090-9040-8985-8945-8910-8880-8825. On the other hand, the immediate resistance seen at 9210-9230, if trade and sustain above 9230 then, it may re-test 9260-9285-9335-9390-9463-9540.

Special Mention: Nifty Index yesterday unable to close below 9040 and moved till 9210 watch today and tomorrow, if Nifty Index closes below 9040, may test 8900-8665-8500 levels very soon. We may witness high volatility in today's trade, due to Option weekly expiry. 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. It looks the Nifty Index may trade in a range bound between 8900 to 9400, in the near term, further move only above these range i.e 8900-9400, if the Index breaks and sustain and closes above/below, may pave the way to test further targets on the upper side seen at 9600 and lower side till 8500-8000 levels. 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.