CNX-NIFTY
Open-10010.55—High-10011.30---Low—9949.10---Close—9964.55
on
25-7-2017
Major Support: - 9928.20/9015/9870/9838/9792.05/9778.85/9709.30.
Major Resistance: -9970/10013/10043/10131/10150/10369.
Critical Point:-9870 &
9970.
For-26-7-17 the support and resistance
levels are given here-under:-
Support:-9934/9928.20/9896/9870/9838/9792.05/9778.85.
Resistance:-9970/10012—43/10131.
It opened with
an up gap at 10010.55 and made a high of 10011.30 but could not sustain above
10000 mark and immediately slipped down and finally closed with a meager loss
of 1.85 points at 9964.55. The overall observation remains the same. (As stated
in my post of 25-7-17) Technically it looks o.k. as of now. But I still feel
that it may top out in the range of 9970—10043/10131 for time being then correct
and consolidate before moving up further. Please note that the expected target
points are not far away from here, therefore it is suggested to exercise
extreme caution in long trade commitments now.
For-26.7.2017
long call can be tried if it moves and sustain above 9970 or on decline near
but not below 9928.20 with a stop loss of below 9900. Please note that if you feel that it can
close below 9915 then it is suggested to buy 9900 put option of July series
with a stop loss of above 9930.
Remark: - The trend is up. Long call can be tried
as long as it sustains 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.