CNX-Bank Index closed at 16194.55 on 22-9-2014
SUPPORT: -16152.50
/ 16052.55 / 16049.25 / 15982.50 /
15973.35 / 15891.75 / 15790.25 / 15770 /
15742.05 / 15740.40 / 15626.90 / 15592.80 / 15503.40 / 15448.90 .
RESISTANCE: - 16208.55
/ 16239.70 / 16309.70 / 16434 / 16568
/ 16634.
(Figures
in bold are important)
Index opened on a negative note and
made a low of 116021.15 and thereafter moved up and made a high of 16272.35 for the
day before closing the day at 16194.55.It is showing positive movement but it
has to cross the level of 16309.70 and stay to give further sharp up move. Since
it above all its short term moving averages therefore I suggest to buy on dip
but get alerted in long trade below 16112 and exit long trade if it closes
below 15966 and stays. Kindly note that going up it will face good resistance
at 16309.70 / 16434 & 16634.
REMARK:- Long term trend is still up ,
therefore I suggest to buy on dip with a
stop loss of close below 15966. Avoid impulsive trade .
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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