15.05.2020 Friday, 8.39 am 

Hi Readers

What has happened yesterday? Nifty Index as expected opened on a negative note with gap down beyond our support zone i.e.9315-9240, made a low on opening at 9198 thereafter, the Index moved up till 9281.10 and unable to surpass this level, most of the session the Index was trading in a range, the late hour sell-off dragged once again till 9119.75 and closed the day at 9142.75 with negative bias.

What will happen today? Nifty Index may open on a flat note with negative bias to test 9140-9110, if trade and sustain below 9110 then, it may test 9040-8970-8910-8865-8820-8755-8655. On the other hand, the immediate resistance seen at 9175-9200, if trade and sustain above 9200 then, it may re-test 9235-9285-9350-9390-9440-9485-9585. 

Special Mention: It looks the Nifty Index may trade in the wider range between 9000-9600 for time being, any further move to break either of this range to test on the lower side 8900-8800 levels and upper side to test 9730-9900 levels. The second set of FMs announcement also, may not enthuse the stock market, the Index may not inclined to move up, we should watch today's move and how it will close. The further set of revival packages will be announced by this week, may be today and tomorrow, based on which, the Index may take further direction by next week onwards. Let us wait and watch the further development today and Monday.

Trading Strategy: The Investor/trader may invest once again at 9000-8800 levels, when the Nifty Index trading these ranges in Nifty50 stocks for short term perspective for 10-15% return, it is a traders market, to trade for short term gains, rather to wait for long term basis. The covid19 impact is difficult to measure on the economy in this juncture, must wait for another 2-3 months till then we must wait and watch the further developments. In Nifty Futures may buy on dips till 9000 levels if any one wants and book profit 9195-9390 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.