07.05.2020 Thursday, 8.33 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 on a flat note near 9226 thereafter, the mild sell-off dragged down the Index till 9116, further the non-stop upmove lifted till 9346.90 and it was consolidating with high volatility and last hour sell-off once again dragged the Index till 9190 and closed the day at 9270.90 on a positive note.

What will happen today? Nifty Index may open on a negative bias to test 9200-9140, if trade and sustain below 9140 then, it may test 9120-9050-8985-8945-8910-8865-8820. On the other hand, the immediate resistance seen at 9290-9345, if trade and sustain above 9345 then, it may re-test 9395-9450-9535-9595-9660. 

Special Mention: Nifty Index if trade, sustain and closes below 9200 for three consecutive trading sessions then, it may test 9040-8700 levels very soon. At the same time, the Nifty Index is trying to surpass above 9390, if the Index moves and closes above 9390, once again may continue the upward move till 9600-9900 in the near term. As expected yesterday the volatility raised and today being a weekly option expiry, the volatility will rule the market.

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.