CNX--BANK NIFTY
Closed at 16749.20 on 22-12-15.(Open-16810.70/High-16946.10/Low-16704.15)
Support:-16670.55/16648.30/ 16587.25/16497/16192.25/16188.05/15762.20/15301.65/15130.35.
Resistance:- 16771.80/17174.70/17246.55/17302.55/17499/17502.45/17565/17652.35/17719/17738/17821/18035/18174.20.
As expected it almost hit 16950 mark
and then corrected but it is still looking good on the chart as long as it
holds 16590, so it is suggested to try long call now or on dip with a stop loss
of below 16570. But it would be better and safe to try long call above 16772
with a stop loss of below 16690 and fresh long position can be added if it
moves and sustain above 16826 with a stop loss of below 16750.
Remark:-The long term
trend is down. It still looks good for an up move till it holds 16590.therefore
long call can be tried as suggested above.
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.
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Thank you for sharing your views.