CNX-NIFTY
Open-9983.65—High-10025.95---Low—9965.95---Close—10020.65
on
26-7-2017
Major Support: - 9970/9928.20/9015/9870/9838/9792.05/9778.85/9709.30.
Major Resistance: -10044/10131/10150/10369.
Critical Point:-9870 &
9970.
For-27-7-17 the intra-day support and
resistance levels are given here-under:-
Support:-9970/9960//9928.20/9870/9838/9792.05/9778.85.
Resistance:-10044/10071/10131/10150.
It is showing
good strength technically, but since it is moving closer to the expected top out
points of 10044/10131(see my earlier post) therefore one should be extremely
cautious and careful in long trade commitments henceforth.
For-27.7.2017
long call can be tried if it moves and sustain above 10026 or on decline near
but not below 9970 with a stop loss of below 9915. Please note that if it moves up in the range
10044—10071 then one can buy put option of 10050 for the day with a stop loss
of above 10100. Since it is July-17 series expiry day so volatility is expected
therefore both way trade is suggested.
Remark: - The trend is up. Long call can be tried
as long as it sustains above 9970, but it would be safe to try long call only
if it sustains above 10026 with a short stop loss of below 9960 for the day.
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.