13.05.2020 Wednesday, 8.41 am 

Hi Readers

What has happened yesterday? Nifty Index as expected opened on a negative note with gap down near our support zone i.e.9190-9155, made a day low at 9043.95, which was our threshold level i.e 9040 as mentioned since last week thereafter, the Index was traded with rangebound and the late hour short covering lifted the Index till our resistance zone i.e.9200-9250, made a day high at 9243.95 and closed the day at 9196.55 with negative note.

What will happen today? Nifty Index may open on a positive bias with a gap up by tracking the domestic event to test 9440-9535, if trade and sustain above 9535 then, it may test 9640-9730-9790-9840-9890-10000-10120. Likewise, the immediate support lies at 9390-9240, if trade and sustain below 9240 then, it may re-test 9200-9145-9100-9040. 

Special Mention: Yesterday, the Nifty Index traded below 9200 and reached our threshold level 9040 and moved above 9200 once again and closed near 9200, the sentiment on the stock market have changed after the PM addressed the Nation, yesterday by 8 pm and announced the massive economic and social revival package for Rs.20 lakh crores, the details of the package still unknown, we can expect the FM may announce the details today or this week. Hence the Nifty may re-test 9600-9730 once again, if the Index sustain above 9730, then may test 9900-10120 levels soon, let see how it open and sustain at high levels today, mild profit booking also possible based on the further developments till 9400 levels, let wait and watch the further move. 

Trading Strategy: The Investor/trader those who invested around 9000 levels may book profit around 9700-9900 levels either fully or partially. In Nifty Futures as mentioned, those who bouhgt 9000 levels can book profit today at 9400-9600-9900 levels. 

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.