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

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