CNX-Bank Index closed at 16151.75 on 10-9-2014
SUPPORT: -16084.20
/ 15982.50 / 15973.35 / 15790.25 / 15742.05 / 15740.40 / 15626.90 / 15592.80 / 15503.40 / 15448.90 .
RESISTANCE: - 16208.55 / 16222.55 / 16290 / 16340 /
16428 / 16580—16720.
(Figures
in bold are important)
Index opened on a positive note at
16173.50 and made a high of 16190.50 and then made a low of 16053.90 before
closing the day at 16151.75.Since it is still
above the short term DMA therefore as of now it is buy on dip market but with
extreme caution and one should get alert in long trade if it starts trading
below 16090 and exit long trade if it closes below 15720 and stays. Please note
that it has recently made bottom at 15891.75 therefore I suggest to avoid fresh
long call below this point for sure. Kindly note that going up it will face
good resistance at16208.55 / 16263 &16330.
REMARK:- Long term trend is still up,
therefore ,I suggest to buy on dip but with caution and at appropriate level with an adequate stop
loss, avoid long fresh long call below 15891.75. Avoid impulsive trade .
Note: Price stated here
is of spot market
Contact me for strategic guidance to enter
and exit the trade
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