A TECHNICAL VIEW ON CNX-NIFTY FOR—1.1.2021

 

CNX-NIFTY

 Open—13970 --High—14024.85—Low—13936.45---Close-13981.75 on 31.12.2020.

Support:13945/13777.50/13769/13721/13658.60/13611/13597.50/13548.90/13530.71/13454.48/13399.30/13242/13145.85/13131.4512963/12790.40/12730.25/12607.70/12430.50/12293.90/12286.45/12246.70/12158.80/12025.45/11929.60/11802.65/11794.25/11614.50/11535.45.                                                                                                                                                           

Resistance: 14025/14046/14177/14298/14310/14602/14823/15022.

 (Bold and underlined figures are most important)

The rally continued in a robust manner for the sixth straight day and it ended the day with a gain of 49.35 points. Its key points are at 13814---13733.50---13437.35---13261.47---12487.67---12430.50(except for 12430.50 other figures can change). It is well above the key points, which is a positive sign for the continuation of the up move. Please note that sustained break below the key points of 13814 & 13733.50 can push it into very short term correction mode which can last for 1-2 days, sustained break below 13437.35 on the closing basis will push it into deep short term correction mode which can last slightly longer, sustained break below 13261.47 will push it into medium term correction mode which can last even longer and most importantly sustained break below 12487.61 on the closing basis can push it into long term correction mode and will potentially threaten the uptrend also and finally sustained break below 12430.50 on the closing basis will further dampen the uptrend for sure, which may please be noted.

The overall technical setup is looking strong for the continuation of the up move because it is well above its key points and also well above its short, medium and long term moving averages.   But the only concern is that It has still not corrected after six day of rise and ended absolutely flat today therefore it is still vulnerable for correction  and it could correct anytime for a day or two otherwise it is o.k. in all respect for the continuation of the up move. In view of this one should be slightly cautious in the long trade at this point of time. The bias is on the upside.

It has ended the year 2020 on a robust note and if this uptrend has to continue in the year 2021 then it has to sustain above its critical points of 14024.85 & 13981.75 on the closing basis, else it may correct very sharply, therefore it is suggested to avoid long trade for sure below the aforesaid mark.

Moving down its critical support points at 13945---13814---13769---13733.50---13683---13597.50---13578---13472---13437.35---13342---13310---13261.47---13145.75---13131.45---13074---13037---12963---12790---12751---12730---12709.05---12636.35---12607.70---12487.61---12430.50.

Moving up its critical resistance points at 14025---14046---14177---14298---14310---14602---14823---15022---15868.

In view of the above observation for safe traders long trade can tried if it moves and maintain above 14025 for some time, avoid buy on decline for the day. However, aggressive traders can try buy on decline too but not below 13814. Please note that buy on decline could be a risky trade, therefore it is suggested to avoid buying below 14025. Since it is in the strong up move therefore short trade in general should be avoided but short trade can also be attempted on the rise at appropriate price range or on the price breakdown for taking advantage of the intraday corrective move irrespective of the trend.

NOTE: - If it opens up with huge gap up then wait for it to settle down before initiating long position, but short trade can be attempted on huge gap up if it is near the selling point and vice versa . Since, it is showing volatility so any type of trade should be squared off during the day, if you don’t have reasonable profit margin in the trade. Day squaring off is strongly suggested in any case.

TRADING STRATEGY

1. Buy if it moves and maintains above 14025 for some time with a stop loss of 13970.

Or

Buy on decline at appropriate points or near 13814 but not below it with a stop loss of 13770.It is for aggressive traders and could be a risky trade.

2. Sell if does not move above 14025 even in intraday in first two hours of trade with a stop loss of 14060.It could be a risky trade but worth trying.

Or

Sell if it moves and maintains below 13930 for some time with a stop loss of 13985.It could be a risky trade but worth trying.

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 are of spot market.

 

Contact me for strategic guidance to enter and exit trade.

 

 Thanks 

Narendra Kumar Surana

suranank@gmail.com

Mobile—8240951127/9831313654.

 

 

A TECHNICAL VIEW ON CNX--BANK NIFTY FOR---1.1.2021

 

CNX--BANK NIFTY

Open-31295.90--High-31409.50--Low—31088.10—Close-31264.05 on 31.12.2020

Support:30996/30945.20/30202.10/30197.85/29784.75/29441.30/29314/29149.90/29030.90/28923.10/28580.90/27703.30/27568.35/27088/26950/26643/26560/26441/26311.30/25998/25891/25723.55/25426.75.

Resistance:31649.45/31660.75/31783/32157/32613.10.

(Bold and underlined figures are most important)

It had a down day today also and ended the day with a meager loss of 39 points. It is well above its benchmark point of 29314. Its other key points are placed at 30912.34—30611.81---29646.43---28889.39---27877.27(figures can change) it is well above its key points also which is a positive sign for the up move to continue. Please note that sustained break below 30912.34 & 30611.81 can push it into very short correction mode which can last for 1-3 days, sustained break below 29646.43 on the closing basis will push it into real short term correction mode which can last slightly longer, sustained break below 28889.39 will push it into medium term correction mode which can last even longer and most importantly sustained break below 27877.27 on the closing basis can push it into long term correction mode and will potentially threaten the uptrend also, which may please be noted.  

The overall technical setup is looking good for the continuation of the up move because it is well above its key points and also well above its short, medium and long term moving averages.  Furthermore it has corrected for the 2^nd day today but it is likely to resume the up move again in a day or two. The bias is on the upside.

It has ended the year 2020 on a reasonably good note and if this uptrend has to continue in the year 2021 then it has to sustain above its critical points of 32613.10---32465.45---31264.05 on the closing basis. Please note that since it is far away from its first two critical points so even if it maintains above 31264.05 on the closing basis then chances are that it could cross the other two critical in coming days. But sustained close below 31264.05 can take it down sharply, which may be kept in mind. Therefore it is suggested to avoid long trade for sure below the said mark.

Moving down its critical support points at 31178---30985---30945.20---30912.34---30611.81----30542---30243---30197.85---30056---29944.55---29646.43---29483---29314---29157.55---28889.39---28601---28464.69---28351----28144.19—27877.27.

Moving up its critical resistance points at 31481---31510---31697---31733—32161—32260---32613.10---33043---33327---33681---34130---34323---35440---37700.

In view of the above observation for safe traders long trade can tried if it moves and maintain above 31325 for some time, avoid buy on decline for the day. However, aggressive traders can try long trade above 31265 also or can buy on decline too but not below 30912. Please note that buy on decline could be a risky trade, therefore it is suggested to avoid buying below 31265 as of now. Since it is in the strong up move therefore short trade in general should be avoided but short trade can also be attempted on the rise at appropriate price range or on the price breakdown for taking advantage of the intraday corrective move irrespective of the trend.

 NOTE: - If it opens up with huge gap up then wait for it to settle down before initiating long position, but short trade can be attempted on huge gap up if it is near the selling point and vice versa . Since, it is showing volatility so any type of trade should be squared off during the day, if you don’t have reasonable profit margin in the trade. Day squaring off is strongly suggested in any case.

TRADING STRATEGY

1. Buy if it maintains above 31265 for some time with a stop loss of 31070.It is for aggressive traders. It could be a risky trade.

Or

Buy if it moves and maintain above 31325 for some time with a stop loss of 31200. It is for the safe and aggressive traders both.

Or

Buy on decline at appropriate points or near 30912 but not below it with a stop loss of 30840. It is for aggressive traders and could be a risky trade.

2. Sell if it moves and maintains below 31260 for some time with a stop loss of 31325.It could be a risky trade but worth trying

Or

Sell if it moves and maintain below 31070 for some time with a stop loss of 31130. It could be a risky trade.

Or

Sell on the rise near or within the range of 31481---31510 with a stop loss of 31550. It could be a risky trade but worth trying for intraday gain.

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 are of spot market.

 

Contact me for strategic guidance to enter and exit trade.

 

Thanks 

Narendra Kumar Surana

suranank@gmail.com

Mobile—8240951127/9831313654.

 

 

A TECHNICAL VIEW ON CNX--BANK NIFTY FOR---31.12.2020

 

CNX--BANK NIFTY

Open-31479.80--High-31510.25--Low—31007.15—Close-31303.05 on 30.12.2020

Support:30996/30945.20/30202.10/30197.85/29784.75/29441.30/29314/29149.90/29030.90/28923.10/28580.90/27703.30/27568.35/27088/26950/26643/26560/26441/26311.30/25998/25891/25723.55/25426.75.

Resistance:31649.45/31660.75/31783/32157/32613.10.

(Bold and underlined figures are most important)

It corrected today and ended the day with a meager loss of 19.45 points. It is well above its benchmark point of 29314. Its other key points are placed at 30912.34—30611.81---29646.43---28889.39---27877.27(figures can change) it is well above its key points also which is a positive sign for the up move to continue. Please note that sustained break below 30912.34 & 30611.81 can push it into very short correction mode which can last for 1-3 days, sustained break below 29646.43 on the closing basis will push it into real short term correction mode which can last slightly longer, sustained break below 28889.39 will push it into medium term correction mode which can last even longer and most importantly sustained break below 27877.27 on the closing basis can push it into long term correction mode and will potentially threaten the uptrend also, which may please be noted.  

The overall technical setup is looking strong for the continuation of the up move because it is well above its key points and also well above its short, medium and long term moving averages.  Furthermore it has corrected also on the closing basis after five days of straight so now it may resume the up move in a day or two. The bias is on the upside.

Moving down its critical support points at 30945.20---30912.34---30611.81----30542---30243---30197.85---30056---29944.55---29646.43---29483---29314---29157.55---28889.39---28601---28464.69---28351----28144.19—27877.27.

Moving up its critical resistance points at 31481---31697---31786—32161—32361---32613.10---32763.

In view of the above observation long trade can tried if it moves and maintain above 31325 for some time or on the decline but not below 30912. Since it is in the strong up move therefore short trade in general should be avoided but short trade can also be attempted on the rise at appropriate price range or on the price breakdown for taking advantage of the intraday corrective move irrespective of the trend.

 NOTE: - If it opens up with huge gap up then wait for it to settle down before initiating long position, but short trade can be attempted on huge gap up if it is near the selling point and vice versa . Since, it is showing volatility so any type of trade should be squared off during the day, if you don’t have reasonable profit margin in the trade. Day squaring off is strongly suggested in any case.

TRADING STRATEGY

1. Buy if it moves and maintains above 31325 for some time with a stop loss of 31250.

Or

Buy on decline at appropriate points or near 30912 but not below it with a stop loss of 30840.

2. Sell if does not move above 31511 even in intraday in first one and half hour of trade with a stop loss of 31600.It could be a risky trade but worth trying.

Or

Sell if it moves and maintains below 30840 for some time with a stop loss of 30925.It could be a risky trade but worth trying

Or

Sell on the rise near or within the range of 31750---31850 with a stop loss of 31925. It could be a risky trade but worth trying for intraday gain.

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 are of spot market.

 

Contact me for strategic guidance to enter and exit trade.

 

Thanks 

Narendra Kumar Surana

suranank@gmail.com

Mobile—8240951127/9831313654.

 

 

A TECHNICAL VIEW ON CNX-NIFTY FOR—31.12.2020

CNX-NIFTY

 Open—13980.90 --High—13997—Low—13864.95---Close-13981.95 on 30.12.2020.

Support:13943/13777.50/13769/13721/13658.60/13611/13597.50/13548.90/13530.71/13454.48/13399.30/13242/13145.85/13131.4512963/12790.40/12730.25/12607.70/12430.50/12293.90/12286.45/12246.70/12158.80/12025.45/11929.60/11802.65/11794.25/11614.50/11535.45.                                                                                                                                                           

Resistance: 14034/14055/14095/14170/14296/14310.

 (Bold and underlined figures are most important)

The rally continued in a robust manner for the sixth straight day and it ended the day with a gain of 49.35 points. Its key points are at 13792.73---13712.24---13416.07---13240.20---12466.33---12430.50(except for 12430.50 other figures can change). It is well above the key points, which is a positive sign for the continuation of the up move. Please note that sustained break below the key points of 13792.73 & 13712.24 can push it into very short term correction mode which can last for 1-2 days, sustained break below 13416.07 on the closing basis will push it into deep short term correction mode which can last slightly longer, sustained break below 13240.20 will push it into medium term correction mode which can last even longer and most importantly sustained break below 12466.30 on the closing basis can push it into long term correction mode and will potentially threaten the uptrend also and finally sustained break below 12430.50 on the closing basis will further dampen the uptrend for sure, which may please be noted.

The overall technical setup is looking strong for the continuation of the up move because it is well above its key points and also well above its short, medium and long term moving averages.  But the only concern is that today was the 6^th straight day of rise and as the straight days rise number increases the vulnerability of correction also increases, so it could correct anytime for a day or two otherwise it is o.k. in all respect for the up move. In view of this one should be slightly cautious in the long trade at this point of time. The bias is on the upside.

Moving down its critical support points at 13953---13792.73---13769---13712.24---13666.36---13597.50---13548.90---13462---13393.61---13335---13240.20---13145.75---13131.45---13068---13025---12963---12790---12751---12730---12709.05---12636.35---12607.70---12430.50.

Moving up its critical resistance points at 14055---14095---14177---14296---14310.

In view of the above observation long trade can tried if it moves and maintain above 13997 for some time or on the decline but not below 13792. Since it is in the strong up move therefore short trade in general should be avoided but short trade can also be attempted on the rise at appropriate price range or on the price breakdown for taking advantage of the intraday corrective move irrespective of the trend.

NOTE: - If it opens up with huge gap up then wait for it to settle down before initiating long position, but short trade can be attempted on huge gap up if it is near the selling point and vice versa . Since, it is showing volatility so any type of trade should be squared off during the day, if you don’t have reasonable profit margin in the trade. Day squaring off is strongly suggested in any case.

TRADING STRATEGY

1. Buy if it moves and maintains above 13997 for some time with a stop loss of 13960.

Or

Buy on decline at appropriate points or near 13792 but not below it with a stop loss of 13750.

2. Sell if does not move above 13997 even in intraday in first one and half hour of trade with a stop loss of 14030.It could be a risky trade but worth trying.

Or

Sell if it moves and maintains below 13750 for some time with a stop loss of 13805.It could be a risky trade but worth trying.

Or

Sell on the rise near or within the range of 14075--14120 with a stop loss of 14130. It could be a risky trade but worth trying for intraday gain.

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 are of spot market.

 

Contact me for strategic guidance to enter and exit trade.

 

 Thanks 

Narendra Kumar Surana

suranank@gmail.com

Mobile—8240951127/9831313654.

 

 

A TECHNICAL VIEW ON CNX--BANK NIFTY FOR---30.12.2020

 

CNX--BANK NIFTY

Open-31006.90--High-31359.35--Low—31002.60—Close-31322.50 on 29.12.2020

Support:30996/30945.20/30202.10/30197.85/29784.75/29441.30/29314/29149.90/29030.90/28923.10/28580.90/27703.30/27568.35/27088/26950/26643/26560/26441/26311.30/25998/25891/25723.55/25426.75.

Resistance:31649.45/31660.75/31783/32157/32613.10.

(Bold and underlined figures are most important)

The rally continued in a robust manner for the fifth straight day and it ended the day with a gain of 441.55 points. It is well above its benchmark point of 29314. Its other key points are placed at 30797—30496.52---29531---28774---27761.98(figures can change) it is well above its key points also which is a positive sign for the up move to continue. Please note that sustained break below 30797 & 30496.52 can push it into very short correction mode which can last for 2-3 days, sustained break below 29531 on the closing basis will push it into real short term correction mode which can last slightly longer, sustained break below 28774 will push it into medium term correction mode which can last even longer and most importantly sustained break below 27761.98 on the closing basis can push it into long term correction mode and will potentially threaten the uptrend also, which may please be noted.  

The overall technical setup is looking strong for the continuation of the up move because it is well above its key points and also well above its short, medium and long term moving averages.  But the only concern is that today was the 5^th straight day of rise so it could correct for a day or two otherwise it is o.k. In view of this one should be slightly cautious in the long trade at this point of time. The bias is on the upside.

Moving down its critical support points at 30945.20---30797---30496.52----30449---30197.85---30175.54---30042---29946---29761.30---29531---29314---29214.73---29053---28941---28457.69---28351----28144.19—27278.95---26918---26413.

Moving up its critical resistance points at 31481---31697---31786—32161—32361---32613.10---32763.

In view of the above observation long trade can tried if it moves and maintain above 31360 for some time or on the decline but not below 30797. Since it is in the strong up move therefore short trade in general should be avoided but short trade can also be attempted on the rise at appropriate price range or on the price breakdown for taking advantage of the intraday corrective move irrespective of the trend.

 NOTE: - If it opens up with huge gap up then wait for it to settle down before initiating long position, but short trade can be attempted on huge gap up if it is near the selling point and vice versa . Since, it is showing volatility so any type of trade should be squared off during the day, if you don’t have reasonable profit margin in the trade. Day squaring off is strongly suggested in any case.

TRADING STRATEGY

1. Buy if it moves and maintains above 31360 for some time with a stop loss of 31250.

Or

Buy on decline at appropriate points or near 30797 but not below it with a stop loss of 30700.

2. Sell if does not move above 31360 even in intraday in first one and half hour of trade with a stop loss of 31425.It could be a risky trade but worth trying.

Or

Sell if it moves and maintains below 30700 for some time with a stop loss of 30810.It could be a risky trade but worth trying

Or

Sell on the rise near or within the range of 31750---31850 with a stop loss of 31950. It could be a risky trade but worth trying for intraday gain.

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 are of spot market.

 

Contact me for strategic guidance to enter and exit trade.

 

Thanks 

Narendra Kumar Surana

suranank@gmail.com

Mobile—8240951127/9831313654.