05.05.2020 Tuesday, 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 17th 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 a gap down and made a day high at 9553.50, which was our resistance zone i.e.9500-9580 thereafter, it moved down near our support level at 9330, the consolidation move took the Index till our threshold level 9390, but unable to trade and sustain above this level and last hour sell-off once again dragged till 9266.95 and closed the day at 9293.50 on a negative bias.

What will happen today? Nifty Index may open on a positive note with mild gap up to test 9390-9430, if trade and sustain above 9430 then, it may re-test 9460-9505-9553-9590-9620-9690-9730-9820. On the other hand, the immediate support lies at 9315-9265, if trade and sustain below 9265 then, it may test 9200-9145-9080-9035-8985-8910.

Special Mention: Yesterday the Nifty Index witnessed a sell-off beyond our threshold level i.e. 9390 and closed well below this level, today and tomorrow if the Index closes below 9390, then it may test 9200-9140-8985 levels very soon. It looks, the Nifty index may try to trade and sustain above 9390 today, any further move beyond 9390 then 9600-9730-9820 levels are possible. Further upmove possible only above 9890 if trade, sustain and closes, then the Index may test 10150-10500 levels in the near term.

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 and book profit 9500-9700 levels 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.