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May 13,2020 Trade Plan-for Wednesday NIFTY like to start on a positive note.

Will it change the course of the market today?

Later in the evening, the PM announced a special economic package of Rs 20 lakh crore to counter the various financial difficulties brought about by the novel coronavirus. PM also said that the center will enforce the fourth lockdown with multiple modifications. The details of the fourth lockdown will be communicated by May 18.

The index now faces immediate resistance in the 9,250-9,300 range. The NSE barometer may find support at the 9,100 level.

Pullback rallies are getting sold into and lower lows are being formed, which hint at short-term pressure. The index now faces immediate resistance in the 9,250-9,300 range. The NSE barometer may find support at the 9,100 level.

Volatility will continue to persist as it's a buy-on-dips and a sell-on-rise market right now. “In the near term, we expect the market to swing either way depending upon the spread and intensity of COVID cases, development around COVID vaccine and incremental government/ regulatory actions to restart the economy,

Nifty Bank (18863) Stiff resistance exists at 19732’ the Nifty Bank unfolded weak as expected and achieved our target and closed in the red…technically there is a good chance that we can an up-move to 19732 as long as 18351 holds…
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