CNX-NIFTY
Open-9855.95—High-9905.05---Low—9851.65---Close—9899.60
on
19-7-2017
Support: - 9870/9850/9792.05/9778.85/9709.30/9700/9698/
9657/9632.
Resistance: -9913.30/9928.20/9970/ 10043/10131.
It opened on a
firm note and filled the gap completely which it created on 19-7-17,
furthermore it closed above its most critical point of 9870 today and if it
sustains above it and crosses 9928.20 mark then it may move up to the expected
top out point of 9970/10043/10131(see my post of 14, 17&19th
July-2017).
For 20-7-2017 if
it holds 9870 for some time then long call can be tried near it with a stop
loss of below 9845 or try long call if it moves and sustain above 9928.20 with
a stop loss of below 9870. It is needless to mention here that no fresh long
call should be attempted below 9870. Please note that it would be safe to
try long call above 9928.20. The daily support and resistance levels are given here-under:-
Support:--9870/9845/9813.
Resistance:-9906/9916/9928.20/9945/9970.
The aforesaid
points can help you to structure your trade in a better and efficient manner.
Remark: - The trend is up as of now. It closed
above 9870 so long call can be tried if it holds this level for some time but
it would be relatively safe to try long call if it move and sustain above
9928.20.
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.