BSE-Sensex-Technical View For-1-1-2015

BSE-Sensex  closed at 27499.42on 31-12-2014

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 weak note at 27358.30 and made a low of 27346 and thereafter moved up and made a high of 27527.24 before closing the day at 27499.42.It ended the 2014 on a reasonable note.One can try fresh long call if it moves above 27572 and stay with a stop loss of below 27490 for a target of 27672 & 27851. Those who are still holding long position should avoid fresh long if it consistently starts trading below 27490 and get alerted in long position below 27390 and exit trade if it moves below 27300 and stays. Please avoid long call below 27090 for sure. Going up it will have resistance at 27561 / 27672 / 27740 /27852 / 27925 & 28268 and moving down it will find support at 27354 / 27256 / 27160 & 27090.

REMARK:-  :- Long term up trend is intact .One can try long call  above 27572 with a stop loss of  below 27490.

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.