06.05.2020 Wednesday, 8.36 am 

Hi Readers

My humble and sincere request to all the readers of this article, to obey the lockdown, wherever it is in force 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 at 9430 with a mild gap up, which was our resistance zone i.e.9390-9430, made a day high at 9450.90 thereafter, the sell-off dragged down the Index throughout the day with volatile move, made a day low at 9190.75 and closed the day at 9205.60 on a negative bias.

What will happen today? Nifty Index may open on a flat note to test 9190-9140, if trade and sustain below 9140 then, it may test 9080-9035-8985-8910-8865-8755. Likewise, the immediate resistance seen at 9265-9295, if trade and sustain above 9295 then, it may re-test 9335-9370-9395-9450-9535-9585. 

Special Mention: Yesterday the Nifty Index closed once again below 9390, today if, the Index moves below 9140 and closes below 9140 may re-test 9040-8910-8800 levels very soon. At the same time any upmove possible only when the Nifty Index trades and closes above 9390 for three consecutive trading sessions then, 9600-9730-9820 levels are possible. Be prepare for high volatility in the Nifty Index, the India Vix-volatility Index shows strength and weekly option expiry falls tomorrow hence, we may witness high volatility today and tomorrow.

Trading Strategy: The Investor/trader may Invest to trade in Cash segment for short term perspective for 10-20% return in Nifty50 low valuation stocks when the Nifty Index reahces 8900-8500 levels. In Nifty Futures BUY on dips near 9000-8700 levels may try or SELL on rise at 9400-9600 may try in F&O segment. 

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

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.