BSE-Sensex-Technical View For---30-12-14

BSE-Sensex  closed at 27395.73on 29-12-2014

SUPPORT: - 27372 / 27324 / 27160 / 26997/ 26795 / 26469.

RESISTANCE: - 27526 / 27646 / 27740 / 27851.10 / 27924 / 27980 / 28268 / 28823.

  (Figures in bold are important)

Sensex opened on a positive note at 27266.49 and the open was the low also and it made a high of 27507.25 before closing the day at 27395.73.I would suggest not to initiate any trade in  two trading session left in the year  2014 and start a fresh in the new year of 2015. However aggressive intra -day trader can trade and they are advised to try fresh long call only above 27520. Those who are still holding long call now should not add fresh long position below 27380 and get alerted in long position if it starts trading below 27230 and exit trade if it moves below 27200. Short call can be tried if it consistently starts trading below 27230 with a stop loss of above 27270 for a target of 27095. Please avoid long call below 27090 for sure for the entire week . Going down it can have support at 27240 /27160 / 27090 / 27024 / 26997 & 26795, moving up it will have resistance at 27852 / 27925 & 28268. The overall bias is mixed  now with a slight tilt on the downside till it moves above 27852 and stays.

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REMARK:-  :- Long term up trend is intact .I suggest  not to initiate any trade in last two days of the current year 2014.

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.

Disclaimer:-The view expressed here are solely of the author and he is not at all responsible in any way for the outcome of the trade you enter based on the above view.

Note: Price stated here is of spot market.

Contact me for strategic guidance to enter and exit the trade