Nifty-Technical View For The Week Starting From-7-7-14

 NIFTY CLOSED AT 7751.60 ON 04-07-14

Range for the week ended on 04-07-14 was:-7758 --- 7531.60

SUPPORT: - 7700.05 / 7649.50 / 7629 / 7611.35 / 7593.35 / 7487.55 / 7481.30 / 7441.60.

RESISTANCE:  7758 /7860 / 7990 / 8050 / 8125.

(Figures in bold are important)

Nifty opened on a flat to positive note today and went down sharply and made low of 7661.30 before recovering stupendously towards the second half of the day and made new all time high of 7758 and closed the week near the high. Kindly note that in this down move during the day it has filled more than 50% of the gap which it left on 2-7-14 therefore now the gap concern is over, furthermore the higher top and bottom on the line chart has also been established, therefore according to technical parameters all doubts of nifty going up are dispelled as of now and it is expected to give a robust up move in the coming week starting from 7-7-14 and may hit 8000 mark by 10-7-14.The important support level for the long trade for the month of July-14 are at 7700.05 / 7629 & 7611.35 and the short term DMA which is placed at 7608 for 7-7-14(it keeps on changing every day). Please note that if nifty starts trading below 7700.05 then get alerted and reduce long exposure and below 7629 & 7611.35 avoid long calls completely in nifty till it bounce back above this level again.

                  

REMARKS:-Long term up trend intact. I strongly suggest to buy on dip . 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 and trailing stop loss points.

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. 

Contact me for strategic guidance to enter and exit the trade