CNX-Bank
Index closed at 15481.70on 20-8-2014
SUPPORT: - 15267.60 / 15144.75 / 15137.60 / 15089 / 14933 / 14858.90 / 14857.50/ 14709.30 / 14709.10
/ 14338.65 /
RESISTANCE: - 15499.70 / 15568.05 / 15592.80 / 15626.90 / 15725.80 /
15742.05/ 15930 / 16308 /.
(Figures
in bold are important)
Index opened on a positive note but
the open of 15566.75 was the high also for the day, thereafter it made a low of 15448.90 before closing the day
near the low at 15481.70.Today’s move
indicate that it may correct from here for 2-3 days ,therefore I would once again reiterate
that one should take fresh long call only if it
crosses 15627 and stays or near 15222, but those who are having long position
taken at lower level are advised to book
profit here. Please be get alerted in long trade below 15222 and get out
of the long position if it closes below 15110.It is needless to mention here
that the index has been grossly under-performing off late in comparison with
nifty whereas nifty is making new high’s but it is yet to surpass the high of 15742.05
it made on 16-5-2014..One can try short
call below 15627 with a stop loss of 15650.
REMARK:- Long term trend is still up but take
fresh long calls only above 15627only.Book
profit on already initiated long calls.
Kindly note that make your cost your
stop loss in favorable trade and then trail it as the price move 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
No comments:
Post a Comment
Thank you for sharing your views.