CNX-Bank Index-Technical View For-18-6-14

CNX - Bank Index closed at 15373.20 on 17-6-2014

 I expected the index to complete down correction in the 2nd half on 17-6-14 or latest by18-6-14  (see my post dated 13-6-14) and today,s move indicate that the correction may be over,if it is so then it should not go  below the short term  DMA which is placed at 15357.94,15322.73&15274.77, for 18-6-14 and close below this, if it does then  the other major supports exist at 14858.90(Recent bottom made on 16-6-14) and bottom of 14709.30 made on 30.5.14. Kindly note that now any close below 14858.90 will trigger fresh  and deep correction in the index ,therefore the base level support for index is at 14858.90 for now and finally at 14709.30.

 

REMARK:- It seems that correction may be over but watch out for close above 15464.85 for further confirmation that correction is over .

   NOTE:-

1.PRICE STATED HERE IS OF SPOT MARKET.

        2.RECOMMENDATIONS ARE VALID TILL THE STOP LOSS IS TRIGGERED.

        3.IN FAVORABLE TRADE TRAIL YOUR STOP-LOSSES FOR MAXIMUM GAIN AND CAPITAL PROTECTION. 

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