CNX-NIFTY
Open-9719.30—High-9782.15---Low—9646.45---Close—9771.05
on
10-7-2017
Support: - 9709.30/9700/9698/ 9657/9632/9608.60/9589/9560.
Resistance: - 9839/9870/9918/10043.
It opened with
an up gap today crossing the multiple top resistance range of 9688.70---9709.30(see
my post of 10-7-17) and the good part was that it filled the gap during the day
and closed near the high of the day. Technically it is on a strong footing ,furthermore today it gave a decisive upside breakout from the all time high of 9709.30, which
indicates further rise ahead. It is therefore suggested to try long call only
now or on decline but not below 9709.30 with a stop loss of below 9657. The
upside target for 11-7-2017 could be 9839 & 9871.
Remark: - Technically it is showing robust
strength therefore only long trade should be attempted as suggested above because
there is no scope for short trade as of now.
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.
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.
Note:
Price stated here is of spot market.
Contact me for
strategic guidance to enter and exit trade.
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Thank you for sharing your views.