CNX--NIFTY---- TECHNICAL VIEW--21-7-2015

                                                                                                                

 CNX NIFTY           

 CLOSED AT 8529.45 ON 20-7-15.

Nifty went past its critical and most important point of 8626.95 today also but failed to close above this mark, in fact it plunged down sharply in the last 45 minutes of trade today and made a low of 8517.90 before closing the day near the low at 8529.45. Please note that today’s movement indicate that the on- going up move may be over and down slide may begin, if it does not close above 8626.95 in next 3-4 days. Therefore it is suggested to initiate fresh long trade only if it closes above 8626.95 and sustain or after a reasonable decline. Going down it may find good support at 8480 / 8440 / 8393 / 8368 / 8269 & 8190.  It is important to mention here that if it breaks the 8190 mark and sustain then it may break the bottom of 7940.30 it made on 12-6-2015.  

Looking at today’s movement my bias is completely on the downside, therefore, I would prefer to try sell call on the rise till it closes above 8626.95 or on breaking of the important support levels. On 21-7-2015 sell call can be tried below 8517 with a stop loss of above 8540 for a target of 8480 / 8440 & 8400.   

Please note that profit should also be booked in trade from time to time at the appropriate  points so that you can take advantage of the market swings.

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.

TRADING CALLS FOR-----20--7--2015

CNX-NIFTY--A TECHNICAL VIEW FOR THE WEEK STARTING FROM-20-7-2015

                                                                                                                 18^th, July,2015

 CNX-- NIFTY           

 CLOSED AT 8609.85 ON 17-7-15.

Nifty has shown good up move during the week ended on 17-7-2015 and it crossed its first critical point of 8505 on 15-7-2015 and sustained and also went past the most important point of 8626.95 intra –day on 17-7-2015 but could not close above it. However technically it is showing good strength and if it closes above 8626.95 and sustain then it can hopefully regain good momentum but going up 8670 mark will pose very stiff  resistance and if this point is taken out then it may hit 8850 / 8914 / 8997 & 9119.20 in coming days, so be cautious around 8670 mark in long trade . Good support for it exist at 8561 / 8504.95 / 8470 / 8368 / 8269 & 8190.

SUGGESTION:-  

1.Fresh long call should only be initiated if it closes above 8627 with a stop loss of below 8555 but those who are already carrying long  position may at least book part profit if it remains below 8627 and exit completely below 8555.

2.Technically  there is no sign of initiating  a short call now but  since it had  a strait up move from 8315 to 8642.95 and now it is near and below its critical point of 8626.95,therefore a short call can be tried if it sustain  below 8627 with a stop loss of above 8650.

Please note that profit should also be booked in trade from time to time at the appropriate points so that you can take advantage of the market swings.

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.

TRADING CALLS FOR--13-7-2015

CNX--NIFTY- A TECHNICAL VIEW---13-7-15

                                                                                                                 12^th,July,2015

OVERVIEW  ON THE CNX NIFTY           

 CLOSED AT 8360.55 ON 10-7-15.

Nifty did give upside breakout from the critical point of 8504.95 on 6-7-15 and closed at 8522.15 but could not sustain it for minimum time of even 3 days and fell back below 8400 on the 3^rd day to close at 8363.05 on 8-7-15 this move indicates that the said breakout was not valid and this was a corrective up rally which may be over. If it so then it should not move above 8505, therefore the range for it is between 8170---8505 for now and breakout on either side will decide which way it is going to move. Please note that  it will regain momentum only if it moves above 8627 and sustain, chances of which are looking slim at this point of time similarly break below 8170 mark will accelerate the fall and it may break the bottom of 7940.30 it made few days back. Looking at the technical parameters my bias is on the downside and I would avoid long call below 8505 instead I, would look for the opportunity to sell. However the market swings provides opportunity for both long and short trades for the intra-day traders. Going up it will find resistance at8423.15 / 8467.15 / 8489.55 8505 & 8561.35 and moving down it may get support at 8315.40 / 8269 / 8170 / 8065 / 7997 / 7961 / 7940.

SUGGESTION:-  

1.Those who want to try long call can try it above 8377 with a stop loss of below 8350. Avoid long call below 8360 and then below 8315 for sure. I would not prefer to try long call below 8505.

2.Short call can be tried either below 8360 with a stop loss of above 8425 or on the rise at appropriate points.

Please note that profit should also be booked in trade from time to time at the appropriate points so that you can take advantage of the market swings.

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.

CNX-NIFTY---A TECHNICAL OVERVIEW

OVERVIEW  ON THE CNX NIFTY  

Nifty is critically poised now and technically it is at make or break juncture at present. It is showing strength now and if it closes above 8505 and then above 8627 and sustain then it can regain its lost momentum. Going up it will find resistance at 8627 / 8850 / 8914 / 8996.60 & 9120 levels, similarly if it consistently starts trading below 8440 then it will be the first sign of weakness and going down it will have critical support at 8269 / 8150 and then at 7997 / 7961 / 7940/ 7841 / 7723 & 7540.10. Please note that if it falls and breaks 8150 mark and sustain below it then fall may accelerate sharply.

SUGGESTION:-  

1.     If one tries long call now then the stop loss would be below 8440 and above 8505 the stop loss would be below 8470.I would personally try long call only if it closes above 8505.

2.     Although there is no technical weakness here but since it is at make or break point, Short call can be tried below 8505 with a stop loss of above 8525 but avoid fresh short call above 8505 and above 8627 for sure or else try it below 8440 with a stop loss of 8485.I would prefer to try short call near 8505,if it remains below 8505 in the first 1,1/2 hour trade on 6-7-2015.

Please note that profit should also be booked in trade from time to time at the appropriate points so that you can take advantage of the market swings.

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.