CNX-NIFTY
Open-9797.45—High-9830.05---Low—9775.55---Close—9786.05
on
11-7-2017
Support: - 9744/9709.30/9700/9698/ 9657/9632/9608.60/9589/9560.
Resistance: - 9812/9839/9870/9918/10043.
It opened with
an up gap again today but filled the gap during the day and closed positive for
the day. But the slight concerning thing is that it closed near the low of the day.
Please note that if it fails to move above 9812 today then it may correct,
furthermore it is running at the highest level with all the exuberance,
enthusiasm and optimisms and history is evident that market tops out in such
types of situations only, it is therefore suggested to be watchful in long
trade always. The range for the day is 9812---9744---9709, so long can be tried
if it stays above 9812 or near 9744 and then near 9709 with a stop loss of
below 9650.Similarly aggressive trader can try short call if it fails to move
above 9812 for some time with a stop loss of above 9840 for a target of 9768/9744
& 9709.
Remark: - Technically the overall setup is O.K and it up, but in view of yesterdays close one can attempt both side trade on 12-7-2017 as
suggested above.
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.