24.04.2020 Friday, 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 opened and made a low at our support level i.e.9165-9120, made a day low at 9170.15, thereafter, the non-stop rally lifted the Index throughout the day till near our resistance level i.e 9335, made a day high at 9343.60 with volatile move and closed the day at 9313.90 on a positive bias.

What will happen today? Nifty Index may open on a flat to negative note by tracking the global indices to test the support levels at 9250-9220, if trade and sustain below 9220 then, it may re-test 9170-9125-9080-9040-9005-8960-8900. Likewise, the immediate resistance seen at 9275-9345, if trade and sustain above 9345 then, it may test 9390-9463-9540-9600-9680.

Special Mention: Nifty Index yesterday unable to surpass and close above 9390, if Nifty Index closes sbove 9390, for three consecutive trading sessions then, we may witness a directional shift in the Nifty Index move with short term targets 9600-9900. At the same time the weakness only if, the Index closes below 8900 for three consecutuve trading sessions then, the weakness cum sell-off may drag the Nifty Index till 8650-8500-8230. It looks the Nifty Index may trade in a range bound between 8900 to 9400 in the near term basis, further move only these ranges i.e 8900-9400, are broken either side. If the Index breaks and sustain and closes above/below these ranges, may pave the way to test further targets, on the upper side seen at 9600-9900 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.