29.04.2020 Wednesday, 8.36 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 expected opened with gap up near our resistance level i.e. 9410, made a high 9402 thereafter, a weaknes cum sell-off dragged till our support level i.e. 9270, made a day low at 9260, further the last hour upmove with a volatility once again lifted the Index beyond 9400, made a day high at 9404.40 and closed the day at 9380.90 on a positive bias.

What will happen today? Nifty Index may open on a with positive note to test 9420-9456, if trade and sustain above 9456 then, it may test 9475-9520-9575-9630-9680. On the other hand, the immediate support lies at 9390-9360, if trade and sustain below 9360 then, it may re-test 9340-9300-9260-9220-9178-9142-9095-9045.

Special Mention: Yesterday as expected, the Nifty Index broken 9390 level on opening move and unable to sustain above this level and got sold-off till 9260 but, the last hour upmove once again tested 9404.40 and unable to close above 9390, today 9400-9460 is a crucial level for the Index to sustain, if fails to trade above 9400 then sell-off possible, as I wrote earlier, it is not so easy to close above 9390 for three consecutive trdaing sessions. Let us see how it trades and closes today, the April month F&O expiry falls tomorrow, hence we can expect more volaitlity move today and tomorrow, also note that tomorrow is a long week end due to May 1st i.e Friday is a trading holiday.

Once again I am reiterating that the Nifty Index if, closes sbove 9390 for three consecutive trading sessions then, a directional shift in the Nifty Index move is possible with a 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. The repercussion of Covid-19 on the economy front, we must wait and watch till 03rd May for further announcement, either an another lock down to be imposed or lifting the lock down in phassed manner. For time being, 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 8500-7900 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.