12.05.2020 Tuesday, 8.36 am 

Hi Readers

What has happened yesterday? Nifty Index as expected opened on a positive note with gap up at our resistance zone i.e.9350-9390, made a high at 9439.90 thereafter, the Index was unable to move further, the sell-off dragged the Index throughout the day and made the day low 9219.95 and closed the day at 9239.20 on a flat note with negative bias.

What will happen today? Nifty Index may open on a negative bias with mild gap down by tracking global indices to test 9190-9155, if trade and sustain below 9155 then, it may test 9125-9080-9040-8970. Likewise, the immediate resistance seen at 9200-9250, if trade and sustain above 9250 then, it may re-test 9300-9355-9390-9440-9495-9535. 

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. Yesterday, the Index managed to close above 9200 levels, today, we must watch closely 9200. At the same time, the Nifty Index tried to surpass 9390 but unable to move further the sell-off once again dragged to 9200 levels. Hereafter, any upmove is possible only when the Index trade, sustain and closes above 9390 for three consecutive trading sessions, then it may re-test 9600-9900 in the near term. 

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 9500-9700 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.