18.05.2020 Monday, 8.38 am 

Hi Readers

What has happened on Friday? Nifty Index contrary to our expectation opened on a positive note at our resistance zone i.e. 9175-9200, made a high 9182.40 thereafter, the Index moved down till mid-session at our support levels i.e.9040, made a low at 9050, further volatility move lifted the Index once again till day high and closed the day at 9136.85 on a flat note with negative bias.

What will happen today? Nifty Index may open on a flat note to test 9120-9185, if trade and sustain below 9185 then, it may test 9220-9265-9320-9385-9430-9470-9533-9585. Likewise, the immediate support lies at 9085-9045, if trade and sustain below 9045 then, it may test 9015-8975-8910-8865-8815-8755. 

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 8900-8755 levels and upper side to test 9730-9900 levels. All the covid19 related economic and social revival packages were released as of yesterday, more reforms also were announced, we should wait and watch, how the stock market taking this and trade today, i will elaborate the further direction of the stock market tomorrow.

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.