30.04.2020 Thursday, 8.44 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 positive note by made a low 9392, which was our support level i.e. 9390 thereafter, a non-stop rally lifted above 9400 on a consolidation move with low volume, further the last hour upmove on a short covering with value buy took the Nifty Index to our short term target 9600, made a day high 9599.85 and closed the day at 9553.35 on a positive bias.

What will happen today? Nifty Index may open on a positive note with gap up by tracking the global indices to test 9680-9725, if trade and sustain above 9725 then, it may test 9780-9825-9880-9970. Likewise, the immediate support lies at 9600-9525, if trade and sustain below 9525 then, it may re-test 9470-9440-9390-9300-9260-9210-9140.

Special Mention: Yesterday, the Nifty Index broken 9390 level on opening move and able to sustain above this level and moved till our first level target 9600 and closed well above our threshold level i.e. 9390, it looks 9725-9970 possible in the near term and as I wrote earlier a directional shift seen in the Nifty Index which is got a potential to test 9600-10000 levels, if the Index closes above 9390 today and Monday. The April month F&O expiry falls today, the India Vix reading at 33 level, hence not much of volatility may expect also today is a long week-end cum monthly closing, not big down move may expect, if it all any big profit booking comes at the higher levels, we should wait and watch how it trades above 9700, even any sell-off 9500-9390 levels may act as a strong support.

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 9700-9970 surpass and closes above this level and sit with CASH, once again the Nifty may re-test 8900-7900 levels, use that opportunity and Invest to trade in Cash segment for short term perspective for 10-20% return in Nifty50 low valuation stocks.  In Nifty Futures BUY on dips near 9300-8900 levels may try or SELL on rise at 9725-9970 may try in F&O segment. 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.