Nifty-Technical View For-1-8-14

NIFTY CLOSED AT 7721.30 ON 31-07-14

 SUPPORT: -  7720 /  7700.05 / 7680 / 7631 / 7629 / 7611.35 / 7593 / 7582 / 7563.50 / 7526 7487.50 / 7481.30 / 7447.20/ 7441.60 / 7422.15

 RESISTANCE:  7731 / 7790.45 /  7792.90 / 7808.85 / 7840.95 / 7873 / 8060 / 8125.

  (Figures in bold are important)

 Nifty opened negative today and could not cross the previous day’s high of 7798.70 and made high for the day at 7791.85 and then moved down gradually to make a low of 7711.15 before closing the day near the low point at 7721.30. It is not showing strength furthermore it has closed below the upper band of the short term DMA range again today , therefore it seems that  it wants to correct before resuming the up- trend again. I still suggest to avoid fresh long call below 7792.90 for the week, below 7721.30 for the month of August-14.Since it has moved below the short term DMA today, therefore long call should be completely avoided below the  short term DMA range which would be between 7762—7676(these figures will change every day) for 1-8-14,therefore get alerted and avoid fresh long call below 7762 for sure and get out of the long trade if it closes below 7676 (this figure will change every day)on 1-8-14. 

REMARK:- Long term trend is up but avoid long call below 7792.90 for the week and off course below the short term moving average also which is at 7762 for 1-8-14 for sure .

 Kindly note that make your cost your stop loss in favorable trade and then trail it as the price moves up/down to gain maximum profit and avoid losses. Use support and resistance levels as entry, exit, target and trailing stop loss points. DO NOT TRADE WITHOUT STOP LOSS

                                             Note:-PRICE STATED HERE IS OF SPOT MARKET

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CNX-Bank Index-Technical View For -31-7-14

CNX-Bank Index closed at 15452.40 on 30-7-2014

SUPPORT: -15399.50 / 15322.25 / 15288.80 / 15241.90 / 15162.05 / 15134 / 15089.30 / 14965 / 14858.90 / 14857.50 / 14770 / 14709.30 / 14660/ 14338.65 /  14063.60 /

RESISTANCE: - 15568.05 / 15592.80 / 15626.90 / 15725.80 / 15742.05.

(Figures in bold are important)

Index opened down and made a low of 15184 for the day  but moved up sharply during  later part of the 2^nd half of the day and made a high of 15470.60 before closing  the day near the high at 15452.40.It has moved above its short term DMA range today .The range of short term DMA is between 15385---15208 (these figures will change every day) for 31-7-14,therefore I suggest to avoid fresh long call below short term DMA upper band of 15385 and below lower band of 15208 for sure. The alert to avoid the long call would be below 15385 and stop loss for the long trade would be close below 15208 for 31-7-14.

 REMARKS:-Long term trend is still intact, avoid long calls below 15385.I expect huge volatility in the index today because of derivative expiry,therefore I suggest to avoid  trade today .

 Kindly note that make your cost your stop loss in favorable trade and then trail it as the price moves up/down to gain maximum profit and avoid losses. Use support and resistance levels as entry, exit, target and trailing stop loss points. DO NOT TRADE WITHOUT STOP LOSS

                                              Note:-PRICE STATED HERE IS OF SPOT MARKET

Contact me for strategic guidance to enter and exit the trade

                                             

Nifty-Technical View For-31-7-14

NIFTY CLOSED AT 7791.40 ON 30-07-14

 SUPPORT: -  7790.45 / 7731 / 7700.05 / 7680 / 7631 / 7629 / 7611.35 / 7593 / 7582 / 7563.50 / 7526 7487.50 / 7481.30 / 7447.20/ 7441.60 / 7422.15

 RESISTANCE:    7792.90 / 7808.85 / 7840.95 / 7873 / 8060 / 8125.

  (Figures in bold are important)

 Nifty opened flat to negative and made low of 7707.60for the day before recovering in the later part of the 2^nd half and made a high of 7798.70 and closed the day near the high at 7791.40.I still suggest to avoid fresh long call below 7792.90 for the week. However those who are having long position taken at the lower level and they still want to hold the position can take that chance above 7700.05 & 7674 for the week .The nifty moved above its short term DMA range today and the range for 31-7-14 is  between 7764—7676(these figures will change every day) ,therefore get alerted and avoid fresh long call below 7764 for sure and get out of the long trade if it closes below 7676 (this figure will change every day)on 31-7-14. 

REMARK:- Long term trend is up but avoid long call below 7792.90 for the week and off course below short term moving average also which is at 7764 for 31-7-14 for sure .

 Kindly note that make your cost your stop loss in favorable trade and then trail it as the price moves up/down to gain maximum profit and avoid losses. Use support and resistance levels as entry, exit, target and trailing stop loss points. DO NOT TRADE WITHOUT STOP LOSS

                                             Note:-PRICE STATED HERE IS OF SPOT MARKET

Contact me for strategic guidance to enter and exit the trade

Trading Calls For -30-7-14

CNX-Bank Index-Technical View For-30-7-14

CNX-Bank Index closed at 15212.15 on 28-7-2014

SUPPORT: - 15134 / 15089.30 / 14965 / 14858.90 / 14857.50 / 14770  / 14709.30 / 14660/ 14338.65 /  14063.60.

RESISTANCE: - 15241.90 / 15272.45 / 15288.30 / 15322.25 / 15399.50 / 15568.05 / 15592.80 / 15626.90 / 15725.80 / 15742.05.

(Figures in bold are important)

Index opened firmly at 15399.50 and gradually moved down and made a low of 15162.05 for the day before closing the day near the low point. It has violated short term moving averages today and closed just above the lower band of the DMA range which shows gross weakness in it .

The range of short term DMA is between 15375---15201 (these figures will change every day) for 30-7-14, therefore I suggest to avoid fresh long call below short term DMA lower band of 15201for sure and think of taking a long call only if closes above the short term DMA’S upper band and stays. The stop loss for the long trade on 30-7-14 would be close below 15201.

 REMARKS:-Long term trend is still intact, avoid long calls for now,aggressive trader can try short call  at appropriate levels  with an adequate stop loss.

 Kindly note that make your cost your stop loss in favorable trade and then trail it as the price moves up/down to gain maximum profit and avoid losses. Use support and resistance levels as entry, exit, target and trailing stop loss points. DO NOT TRADE WITHOUT STOP LOSS

                                              Note:-PRICE STATED HERE IS OF SPOT MARKET

Contact me for strategic guidance to enter and exit the trade