Nifty-Technical View-25-7-14

NIFTY CLOSED AT 7830.60 ON 24-07-14

 SUPPORT: - 7809.20 / 7808.85 / 7731.05 / 7700.05 / 7685 / 7661 / 7629 / 7611.35 / 7593 / 7563.50 / 7487.50 / 7481.30 / 7447.20/ 7441.60 / 7422.15

 RESISTANCE:    7873 / 8060 / 8125.

  (Figures in bold are important)

 Nifty opened flat to positive and steadily moved up and made new all time high of 7835.65 before closing the day near the high at 7830.60.One can hold the existing long position  or can take a fresh long call with a strict stop loss below 7770 on closing basis. However those who want to hold the entire long position taken at the lower level can hold the long call above 7701.65 & 7685 for the week .Kindly get alerted if it goes below 7664 (this figure will change every day) and get out of the long trade if it closes below 7646(this figure will change every day). Your stop loss for the long trade in nifty is close below 7770 &7646 for 25-7-14.

REMARK:- Long term trend is up .One can take fresh long call above 7808.35 or hold the existing long trade with a stop loss of  below 7770 on the closing basis.

 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