CNX-NIFTY
Open-9908.15—High-9928.20---Low—9894.70---Close—9915.95
on
17-7-2017
Support: - 9870/9778.85/9709.30/9700/9698/
9657/9632.
Resistance: -9940/9970/ 10043/10131.
It made new high
of 9928.20 today and closed above the accelerating point of 9913.30(see my post
of 17-7-17). The range for now is 9970--- 9940---9913.30---9870. It would be
safe to try fresh long call only if it maintains above 9913.30 with a stop loss
of below 9870 today, but aggressive trader if they wish to can try long call on
decline near but not below 9870 with a stop loss of below 9840. Please
note that fresh long call should be completely avoided if it breaks and sustain below
9870 because then it can slip down further also.
Remark: - Technically it is looking O.K. but as I
anticipate that it could top out during the on-going week therefore, I would personally
avoid fresh long commitments instead look for an opportunity to try short call.
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.