INTRA-DAY TRADING CALLS FOR 1.2.2021

 

TRADING CALLS

 

1. DIVIS LAB.

Sell below -3360, S/L-3375, Target-3341/3300/3250/3208/3175.

2. ASIAN PAINTS.

Sell below-2400, S/L-2410, Target-2390/2362/2296.

Or

Sell on the rise near 2477 but not above it with a stop loss of 2490.It could be a risky trade.

Target:--2441/2400/2390/2362/2296.

3. INFOSYS.

Sell below -1231, S/L-1242, Target-1226/1184/1148.

Or

Sell on the rise near but not above 1280 ,S/L-1290,

Target1255/1239/1231/1226/1184.

4. BAJAJ FINANCE.

Sell below-4707.S/L-4725,Target-4686/4640/4295/4280.

5. HDFC BANK.

 Sell below-1378, S/L-1388, Target-1358/1347/1345/1305.50.

6. HDFC LTD.

Sell below -2360, S/L-2380, Target-2303/2270/2221. 

Or

Can buy for a pullback move if it maintain above 2378 for some time S/L—2359, Target:-2386/2430/2447/2462.

7. KOTAK MAHINDRA BANK.

Sell below-1701, S/L-1715, Target-1683/1663/1644/1638.

Or

Can buy for a pullback move if it maintain above 1713 for some time S/L—1698, Target:-1721/1750/1778/1785.

8. ICICI BANK.

Buy above-337, S/L-334, Target-545/552.70/561/574/580.

9. RELIANCE IND.

Sell below -1830, S/L-1845, Target-1804/1786/1695/1618.  

10.  MAHINDRA & MAHINDRA.

Sell below-746, S/L, 752, Target-730/720/705/695.

 11. MARUTI SUZUKI.

Sell below-7170, S/L, 7190, Target-7000/6903/6850.

                  

12. HIDUSTAN UNILEVER.

Sell below-2251, S/L-2265, Target-2220/2208/2190.

Or

Sell on the rise near but not above 2310 ,S/L-2325,

Target-2265/2251/2220/2208/2190.

13. TECH MAHINDRA.

Sell below-514, S/L-520, Target-502/490/487.

14. TATA STEEL.

Sell below-596, S/L-603, Target-585/556/536.

Or

Sell on the rise near but not above 628 ,S/L-631,

Target-618/614/601/596/585/556/536.

15. TCS.

Sell below-3100, S/L-3115, Target-3069/3000/2952.

16. TITAN.

Sell below-1415, S/L-1423, Target-1412/1375/1340.

                                            

                            Note: Price stated here is of spot market.   

 

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.

 Contact me for strategic guidance to enter and exit the trade

 

   

Thanks 

Narendra Kumar Surana

suranank@gmail.com

Mobile—8240951127/9831313654.

 

                    

                             

 

 

A TECHNICAL VIEW ON CNX--BANK NIFTY FOR---1.2.2021

 

CNX--BANK NIFTY

Open-30700.65--High-31111.95--Low—30254.55—Close-30565.50 on 29.1.2021

Support:30284/30202.10/30197.85/30165.65/29784.75/29441.30/29314/29149.90/29030.90/28923.10/28580.90/27703.30/27568.35/27088/26950/26643/26560/26441/26311.30/25998/25891/25723.55/25426.75.

Resistance:30893.65/30945.20/31264.05/31297.30/31510.25/31650.90/31725.85/32465.45/32561/32613.10/32718.95/32842.30/33043/33127/33379/33506/34130/34447/35079.

(Bold and underlined figures are most important)

It exhibited wild swing on both the side today also but at the end closed on a positive note for the 2^nd day in a row with a gain of 207.19 points. It is weak on short term technical parameter but looking at today’s movement it seems that the pullback rally is on. Please note that its key points for the year 2021 are 31265.05---31297.30---32465.45 & 32613.10 and it is way below these points now which is a terribly weak sign and if it does not bounce back above at least 31265.05---31297.30 points and sustain above it on the closing basis then chances are that it could slip into long term correction mode, which may please be noted. Its other key points are placed at 32561---31930---29907---28895(figures can change) It is  already way below its 1^st & 2nd key points of 32561 & 31930 therefore it is in short term correction mode for sure and down move is expected to extend for few more days. Please note that sustained break below 29907 will push it into medium term correction mode and it can last even longer and most importantly sustained break below 28895 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 short term technical setup is extremely weak and it is already into short term correction and it seems that the correction is going to last for some time and could be painful too, but the long term trend is still o.k.as of now. Please note that overall short term technical indicators and parameters are terribly bad and indicate further fall ahead and most importantly RSI is showing huge negative divergence on the daily and weekly chart and if it remains below its short term moving averages and critical points for some more time then the it could go down to 29450 level or much below it also in coming days, which may please be noted. Therefore it is suggested to avoid long trade till clarity on correction completion emerges. Please note that it has to move above some of its critical points and short and medium term moving averages to regain some strength for moving up else it may drift downward off course with intermittent pullback rallies. The overall short term trend is down but the long term bias is still up as of now.

It is important to mention here that  it did close above 30432.20 (see my post for 29.1.2021) today therefore it seems that the pullback rally is on and it may last as long as it holds this mark but it may pick up some speed only if it moves and sustain above 30776 on the closing basis.  So the range for now is between 30432.20---30776 and if it moves and sustain above 30776 on the closing basis then the pullback rally can extend to 30892---31265---31637---31098---32211. In this context please note that the pullback rallies are treacherous in nature and can end or fizzle out abruptly at any of these points or earlier also, which may be kept in mind. Similarly sustained break 30432.20 on the closing basis can end this rally and drag it down to 30399---30231---30023---29907---29687---29303---29143---28894.95 levels, which may please be noted.

It is into short term correction mode now but in view of the above observation pullback rally is on therefore those who wish to take advantage of the pullback rally can try long trade if it holds 30433 level or if it moves and maintain above 30776 for some time. Since it is in correction mode therefore it is advised to avoid long trade for pullback gains instead it is suggested to adopt sell on the rise strategy for now and sell after a reasonable rise in the appropriate range or on the price breakdown for taking advantage of the down correction or otherwise but with extreme alertness because the long term technical setup is not that bad as of now.

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 maintain above 30776 for some time with a stop loss of 30650.It could be a risky trade.

Or

Buy on decline near but not below 30433 with a stop loss of 30240.

2. Sell if it moves and maintains below 30240 for some time with a stop loss of 30450. It could be a risky trade but worth trying.

Or

Sell on the rise near or within the range of 31300---31400 with a stop loss of 31475.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-NIFTY FOR—1.2.2021

 

CNX-NIFTY

 Open—13946.60 --High—13966.85—Low—13596.75---Close-13634.60 on 29.1.2021.

Support:13611/13597.50/13548.90/13530.71/13454.48/13399.30/13242/13145.85/13131.45/12919.88/12790.40/12730.25/12607.70/12430.50.                                                                                                                                                           

Resistance:13713.25/13721/13777.50/13818.20/13981.75/13996.11/14024.85/14046/ 14222.80/14310/14567.27/14653.45/14770/14823/14890/14920/15022/15350/15471/15868/16047.         

 (Bold and underlined figures are most important)

As expected it did give pullback move and opened with an up gap but could not sustain at the higher levels and went down sharply in the late afternoon for the sixth consecutive day and closed with a huge loss of 182.95 points, which indicate inherent weakness in it. Its most critical points for the year 2021 are 14024.85---13996.11 & 13981.75 and as long as it holds these points the uptrend will be intact but it is decisively below all these points now which is an extremely weak sign and if it sustain below these points on the closing basis than it could be a potential indication that it could slip into long term correction mode. Its other key points are at 14628.29---14370.73---13818.20---13044---12430.50(except for 12430.50 other figures can change). It is decisively below its first two key points of 14628.29 & 14370.73 therefore it is already into short term correction mode. Please note that it closed shade below 13818.20 yesterday and today it decisively closed below it therefore it has slipped into medium term correction mode and it can last even longer and most importantly sustained break below 13044 on the closing basis can push it into long term correction mode and will potentially threaten the uptrend and finally sustained break below 12430.50 on the closing basis will further dampen the uptrend for sure, which may please be noted.

The short term technical setup is tremendously weak and it was already into short term correction mode and today it slipped into medium term correction mode and if it sustain below 13818.20 on the closing basis then correction can last much longer and could be painful too. Please note that overall short term technical indicators and parameters are terribly bad and indicate further fall ahead and most importantly RSI is showing deep negative divergence on the daily chart and if it remains below its short term moving averages and critical points for some more time then the it could go down to 13350 level or much below it in coming days, which may please be noted. Therefore it is suggested to avoid long trade till clarity on correction completion emerges. Please note that it has to move above at least some of its critical points and short and medium term moving averages to regain some strength for moving up else it may drift downward in coming days off course with intermittent pullback rallies from time to time. Please note that since it had vertical fall for the last 6 days continuously therefore chance of a pullback rally is on the card and it can happen any day but the overall short term trend is down but the long term bias is still up as of now.

It is important to mention here that if it does not break 13596.75 levels even in intraday and closes above 13869.75( If 13596.75 is breached during intraday than 13869.75 figure will change downward )  and sustain then chances are that it can give a pullback rally. Similarly if it breaches and sustain below 13596.75 on the closing basis then it can go down sharply to 13514---13455---13399---13239.55----13145.85---13131.45---13044 levels and then it may stage a pullback from any of these levels which may please be noted.

It was already into short term correction mode and today it slipped into medium term correction mode which is a very weak sign. But since it has been falling for 6 days in a row, therefore a pullback or relief rally looks imminent and can happen any time soon. Please note that if it closes above 13869.75 and sustain then only the expected pullback rally can extend to 14038.65---14175.15---14311.65---14480.55---14522 levels. In this context please note that pullback rallies are treacherous in nature and can end or fizzle out abruptly at any of these points or earlier also, therefore long trade for pullback gains should be avoided. However those who wish to trade for pullback gains can try long trade if it holds 13596.75 but with extreme cautious and care. Since it is in correction therefore it is suggested to avoid long trade completely and adopt sell on the rise strategy for now and sell after a reasonable rise in the appropriate range or on the price breakdown for taking advantage of the down correction or otherwise but with extreme alertness because the long term technical setup is still not that bad as of now.

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 holds 13596.75 levels for some time but not below it with a stop loss of 13570.It could be a risky trade.

2. Sell on the rise near at possible sell point 13777 (stop loss 13800), 13870(stop loss 13900), 13981---14025 with a stop loss of 14050. It could be a risky trade but worth trying.

Or

Sell if it moves below 13596.75 with a stop loss of 13650. 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-NIFTY FOR—29.1.2021

 

CNX-NIFTY

 Open—13810.40 --High—13898.25—Low—13713.25---Close-13817.55on 28.1.2021.

Support:13777.50/13721/13713.25/13658.60/13611/13597.50/13548.90/13530.71/13454.48/13399.30/13242/13145.85/13131.45/12919.88/12790.40/12730.25/12607.70/12430.50.                                                                                                                                                           

Resistance:13818.20/13981.75/13996.11/14024.85/14046/ 14222.80/14310/14567.27/14653.45/14770/14823/14890/14920/15022/15350/15471/15868/16047.         

 (Bold and underlined figures are most important)

It has been falling relentlessly for the last five days and today it opened with a down gap which is still there and if it makes an effort to fill the gap in next 3-4 trading session which is technically possible than it can come up to 13930 level but overall short term technical setup is on an extremely weak footing. Its most critical points for the year 2021 are 14024.85---13996.11 & 13981.75 and as long as it holds these points the uptrend will be intact but it is decisively below all these points now which is an extremely weak sign and if it sustain below these points on the closing basis than it could be a potential indication that it could slip into long term correction mode. Its other key points are at 14628.29---14370.73---13818.20---13044---12430.50(except for 12430.50 other figures can change). It is decisively below its first two key points of 14628.29 & 14370.73 therefore it is already into short term correction mode. Please note that it closed shade below 13818.20 and if it sustain below it on the closing basis then it will get into medium term correction mode and it can last even longer and most importantly sustained break below 13044 on the closing basis can push it into long term correction mode and will potentially threaten the uptrend and finally sustained break below 12430.50 on the closing basis will further dampen the uptrend for sure, which may please be noted.

The short term technical setup is tremendously weak and it is already into short term correction mode and looking at the intensity of the fall  it seems that the correction is going to last for some time and could be painful too , but the long term trend is still o.k.as of now. It has decisively broken its recent bottom on the line and bar chart, it is decisively below its short and some medium term moving averages and most importantly RSI is showing deep negative divergence on the daily chart and if it remains below its short term moving averages and critical points for some more time then the it could go down to 13350 level or much below it in coming days, which may please be noted. The overall short term technical parameters and indicators have turned bad and are pointing towards that it may witness further fall from here provided it remains below its short term moving averages; therefore it is suggested to avoid long trade till clarity on correction completion emerges. Please note that it has to move above at least some of its critical points and short and medium term moving averages to regain some strength for moving up else it may drift downward off course with intermittent pullback rallies. Please note that since it had vertical fall for the last 5 days continuously therefore chance of a pullback rally is on the card and it can happen on 29.1.2021 also but the overall short term trend is down but the long term bias is still up as of now.

It is important to mention here that if it does not break 13713.25 levels even in intraday and closes above 13958.76( 13713.25 is breached during intraday than 13958.76 figure will change downward )  and sustain then chances are that it can give a pullback rally.

Moving down its critical support points at 13777.50---13713.25---13145.85---13131.45---13044.

Moving up its critical resistance points at 13818.20---13958.76---13981.75---13996.11---14024.85---14123.80---14310---14348.71---14370.73---14481---14567.24---14628.29----14653.45---14753.55---14771---14823---14890---14920---15022---15350---15471---15868.

It is into short term correction mode now but in view of the above observation chance of a pullback rally seems very likely and it can happen on 29.1.2021 also, therefore those who wish to take advantage of a possible pullback rally can try long trade if it move and sustain above 13819 or on the decline but not below 13713. Please note that if it closes above 13958.76 and sustain then this rally can extend to 14110---14233---14356---14508 levels. In this context please note that pullback rallies are treacherous in nature and can end or fizzle out abruptly at any of these points or earlier also, therefore be alert and extremely cautious in the long trade. Since it is in correction mode therefore it is suggested to adopt sell on the rise strategy for now and sell after a reasonable rise in the appropriate range or on the price breakdown for taking advantage of the down correction or otherwise but with extreme alertness because the long term technical setup is not that bad as of now.

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 maintain above 13819 for some time with a stop loss of 13780.   

Or

Buy on decline if it holds 13713 levels for some time with a stop loss of 13680.

2. Sell on the rise near or within the range of 13980---14000 with a stop loss of 14035. It could be a risky trade but worth trying.

Or

Sell if it moves below 13713 and maintain for some time with a stop loss of 13750. 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---29.1.2021

 

CNX--BANK NIFTY

Open-29812.30--High-30464.40--Low—29687.70—Close-30358.30 on 28.1.2021

Support:30284/30202.10/30197.85/30165.65/29784.75/29441.30/29314/29149.90/29030.90/28923.10/28580.90/27703.30/27568.35/27088/26950/26643/26560/26441/26311.30/25998/25891/25723.55/25426.75.

Resistance:30893.65/30945.20/31264.05/31297.30/31510.25/31650.90/31725.85/32465.45/32561/32613.10/32718.95/32842.30/33043/33127/33379/33506/34130/34447/35079.

(Bold and underlined figures are most important)

It exhibited wild swing on both the side but at the end closed on a positive note. It is weak on short term technical parameter but looking at today’s movement it seems that it is about to give a pullback rally may be on 29.1.2021. Please note that its key points for the year 2021 are 31265.05---31297.30---32465.45 & 32613.10 and it is way below these points now which is a terribly weak sign and if it does not bounce back above at least 31265.05---31297.30 points and sustain above it on the closing basis then chances are that it could slip into long term correction mode, which may please be noted. Its other key points are placed at 32561---31930---29907---28895(figures can change) It is  already way below its 1^st & 2nd key points of 32561 & 31930 therefore it is in short term correction mode for sure and down move is expected to extend for few more days. Please note that sustained break below 29907 will push it into medium term correction mode and it can last even longer and most importantly sustained break below 28895 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 short term technical setup is extremely weak and it is already into short term correction and it seems that the correction is going to last for some time and could be painful too, but the long term trend is still o.k.as of now. It is already running way below its short and some medium term averages, it has also broken some of its key indicators, it is also making lower top and bottom on the line chart, broken bottom on the bar chart also and most importantly RSI is showing huge negative divergence on the daily and weekly chart and if it remains below its short term moving averages and critical points for some more time then the it could go down to 29450 level or much below it also in coming days, which may please be noted. The overall short term technical parameters and indicators have turned bad and are pointing towards further fall from here; therefore it is suggested to avoid long trade till clarity on correction completion emerges. Please note that it has to move above some of its critical points and short and medium term moving averages to regain some strength for moving up else it may drift downward off course with intermittent pullback rallies. Please note that in view of today’s move it seems that a pullback rally is around the corner and may happen on 29.1.2021 but the overall short term trend is down but the long term bias is still up as of now.

It is important to mention here that if it does not break 29687.70 levels even in intraday and closes above 30432.20( if 29687.70 is breached during intraday than 30432.20 figure will change downward )  and sustain then chances are that it can give a pullback rally.

Moving down its critical support points at -30284---30197.85---29907---29749.50---29314---29149.90---28976.75---28923.10---28894.95---28580.90.

Moving up its critical resistance points at 30432.20---30893.65---30945.20---31264.05---31297.30---31510.25---31526---31650.90---31725.85---31930—32264.05---32297.30----32465.45---32505---32561---32613.10---32718.95---32842.30---33010---33043---33126---33379---33681---34130---34323---34447---35440---36175---37700.

It is into short term correction mode now but in view of the above observation chance of a pullback rally seems very likely and it can happen on 29.1.2021 also, therefore those who wish to take advantage of a possible pullback rally can try long trade if it move and sustain above 30433 for some time or on the decline but not below 30284. Please note that if it closes above 30433 then this rally can extend to 30892---31265---31637---32098 levels. In this context please note that pullback rallies are treacherous in nature and can end or fizzle out abruptly at any of these points or earlier also, therefore be alert and extremely cautious in the long trade. Since it is in correction mode therefore it is suggested to adopt sell on the rise strategy for now and sell after a reasonable rise in the appropriate range or on the price breakdown for taking advantage of the down correction or otherwise but with extreme alertness because the long term technical setup is not that bad as of now.

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 maintain above 30433 for some time with a stop loss of 30200.

Or

Buy on decline near but not below 30284 with a stop loss of 30200.

2. Sell if it moves and maintains below 30200 for some time with a stop loss of 30380. It could be a risky trade but worth trying.

Or

Sell on the rise near or within the range of 31100---31200 with a stop loss of 31320.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.