Nifty---CNX Bank Index & BSE Sensex---Technical View For---28-1-2015

NIFTY CLOSED AT 8910.50ON 27-1-2015

SUPPORT: -8795.40 / 8774 / 8680 / 8626.95 / 8535.35 / 8445.60 / 8380.55 / 8364.75 / 8326 / 8282.70 / 8272.80 / 8180 / 8160 / 8147.95 /

 RESISTANCE: - 8945 / 8960 / 9039 / 9061 / 9704.

It is suggested to avoid fresh long call if it consistently trades below 8901 & 8880 on 28-1-2015 because it is highly vulnerable for correction at this juncture, however if it moves above 8950 and stay then it may continue up move for another 2-3 days before correction sets in because correction looks inevitable now, therefore it is advised to book profit on existing long trade on every rise.

CNX-Bank Index closed at 20555.25 on 27-1-2015

SUPPORT: - 20460 / 20170 /19788 / 19723 / 19166 / 19061.35 / 18923.60 / 18875.45 / 18736.66 / 18728.20 / 18517.90 / 18428.

RESISTANCE: - 20710 / 21097.

Avoid fresh long call below 20350 on 28-1-2015 because correction looks imminent at this juncture, however if it starts trading above 29680 and stays then the  on- going up move may continue for another 2-3 days before correction sets in,  therefore it is advised to book profit on existing long trade on every rise.

BSE- Sensex  closed at 29571.04on 27-1-2015

SUPPORT: - 29165 / 28822.37 / 28541 / 28064.49 / 27851 / 27703.70 / 27512.80 / 27500 / 27485 / 27354.99 27247 / 27203.25 / 27091.38 / 26845 / 26776 / 26469.42.

RESISTANCE: - 29630 / 29817 / 30150 / 30271.

It is suggested to avoid fresh long call below 29460 on 28-1-2015 because below this mark correction may set in, however if it moves above 29670 and stays then it may continue up move for another 2-3 days before correction sets in because correction looks inevitable now, therefore it is advised to book profit on existing long trade on every rise.

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.