26.05.2020 Tuesday, 8.34 am 

Hi Readers

What has happened on Friday? Nifty Index as expected opened on a negative note with gap down at our support zone i.e.9040-8990, made a low at 9025.40 thereafter, the up move lifted the Index till our resistance 9145, made a day high at 9149.60, further the weakness cum sell-off dragged the Index after the RBI Governor's press meet, till 8968.55 and closed the day at 9039.25 on a negative bias.

What will happen today? Nifty Index may open on a positive note with a gap up by tracking the global indices to test 9085-9150, if trade and sustain above 9150 then, it may test 9195-9230-9280-9320-9350-9420. On the other hand, the immediate support lies at 9050-9020, if trade and sustain below 9020 then, it may test 8970-8930-8855-8805-8710. 

Special Mention: As written on Friday, the clueless/directionless movement on the Nifty Index, may trade with consolidation-cum-range bound move between 8800-9200 levels, any fresh move is possible only, either of these levels break and closes below/above for three consecutive sessions, may pave the way to test on the higher side 9350-9585 or on the lower side may test 8700-8425 in the near term. The F&O May month contract expiry and monthly closing falls this week, hence the volatility may rule Index this week.

Trading Strategy: The Investor/trader may invest once again at 8800-8400 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. 

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.