CNX-Bank Index closed at 16206.70 on 8-9-2014
SUPPORT: -16084.20
/ 15982.50 / 15973.35 / 15790.25 / 15742.05 / 15740.40 / 15626.90 / 15592.80 / 15503.40 / 15448.90 .
RESISTANCE: - 16208.55 / 16290 / 16340 / 16428 /
16580—16720.
(Figures
in bold are important)
Index opened on firm note and made a
low of 16049.25 for the day and thereafter made new all time high of 16222.55
before closing the day near the high at16206.70. Today’s move indicate that last three days down move has
been completed and it ready for up move again, it recent bottom is at 15891.75 therefore avoid fresh
long call below this point. It is still buy on dip market but with caution and one should get alerted in long trade if it
starts trading below15891.75 and exit
long trade if it closes below 15590 and stays. Kindly note that going up it
will face good resistance at 16208.55 / 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 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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