CNX-Bank
Index closed at 15669on 25-8-2014
SUPPORT: - 15626.90 /
15592.80 / 15568.05 / 15499.70 / 15267.60 / 15137.60 15089 / 14933 / 14858.90 / 14857.50/ 14709.30 / 14709.10 .
RESISTANCE: - 15725.80 /
15742.05 / 15817.55 / 15865.30 /
15973.35 / 16308.
(Figures
in bold are important)
Index opened flat today and steadily
moved up throughout the day and maintained it for considerable period of time
and made a new all time high of 15973.35 and thereafter all of a sudden started
moving down in last hour trade and made a low of 15625.45 before closing the
day near the low at 15669.It made a key downward reversal today therefore I
suggest to avoid fresh long trade below 15625.45 for sure. However those who
are already having long position should get alerted if it starts trading below 15448
and get out of the long trade if it closes below 15258 and stays.
REMARK:- Long term trend is still up. I
suggest to avoid fresh long call below 15625, try fresh long call near
15250-15350 with a stop loss of below 15230.
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
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Thank you for sharing your views.