CNX-NIFTY- A TECHNICAL VIEW -9-2-2017

CNX-NIFTY

Open-8774.55—High-8782.85---Low—8715—Close—8769.05 on

8-2-2017

Support: - 8757.60/8740.95/8672.70/8641/8598.45/8564/8555/8518/8506/8493.95/8476.70/8461.05/8460.30/8400/8373/ 8327/8293.80/8274.95/8223/8210.10/8185/8063.

Resistance: -8786/8801.05/8830/8844.80/8849.75/8874/8893.35/8913.45/8968.70/8996.60/9119.20.

As expected yesterday’s correction extended today and it hit a low of 8715 for the day but in last hour of trade it recovered sharply to close with a meager gain of .75 points which shows good strength in it. Looking at today’s movement it seems that a short bottom may be in place at 8715 and the correction may have ended so now it may resume the up move again. Therefore long call can be tried if it moves above 8786 and sustain with a stop loss of below 8740 for a target of 8815 and can add on position if it moves and sustain above 8515 with a stop loss of below 8780 for added long position for a target of 8830/8866/8874.

Remark:- Technically it is o.k. and with today’s movement it seems that correction may be over, therefore long call can be tried above 8786.  

 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.

CNX--BANK NIFTY-A TECHNICAL VIEW 9-2-2017

CNX--BANK NIFTY

Open-20335.25--High-20362.80--Low-20070.15—Close-20245.40 on

 8-2-2017

Support:  20229.65/20196/20070/19915.20/19816.50/19794.95/19518/19435/19276.50/19096/19059/18961/18824.50/18722.85/18551/18537/18515---18441/18443.65.

Resistance: -20248/20,309.70/ 20470/20541.65/20575.80/20907.55.

As expected yesterday’s correction extended today and it hit a low of 20070.15 for the day but in last hour of trade it recovered intraday losses sharply to close with a relatively small loss of 81.84 points. Although it closed negative but today’s movement gives an indication that a short bottom may be in place at 20070.15 and the correction may have ended so now it may resume the up move again. But I once again reiterate that close above 20371.60 will only confirm that the up momentum (see my post of 8-2-17) will be carried on and it may attempt to hit a new all time high.

In view of the above observation it would be safe to try long call once it closes above 20371.60; however aggressive trader can try long call above 20310 with a stop loss of below 20180 for a target of 20371.60/20427/20465/20575.80.

Remark: - Technically it is o.k. and with today’s movement it seems that a short bottom is made and correction may be over, therefore long call can be attempted above 20310. But I would personally wait for a close above 20371.60 for initiating fresh long call.

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.

Note: Price stated here is of spot market.

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.

CNX-NIFTY- A TECHNICAL VIEW -8-2-2017

CNX-NIFTY

Open-8805.70—High-8809.30---Low—8741.05—Close—8768.30 on

7-2-2017

Support: - 8757.60/8740.95/8672.70/8641/8598.45/8564/8555/8518/8506/8493.95/8476.70/8461.05/8460.30/8400/8373/ 8327/8293.80/8274.95/8223/8210.10/8185/8063.

Resistance: -8801.05/8830/8844.80/8849.75/8874/8893.35/8913.45/8968.70/8996.60/9119.20.

It corrected today and also filled the gap it created on 6-2-2017 and closed above the upper end of the weekly range i.e.8757.60 which is good. The overall technical setup is showing strength but it made lower high and lower low today which is slightly concerning and if moves below 8740.95 and sustain then it may correct further before moving up again. Please note that it may regain the up momentum above 8815. In view of today’s movement chances of correcting further looks quite possible and in that case it will find good support at 8757.60/8672.70/8537.50. It is therefore suggested that it would be safe to try long call above 8815 on 8-2-2017 with a stop loss of below 8785; however aggressive trader can also try long call above 8786 with a stop loss of below 8740 or else try near but not below the support points mentioned above with a self defined short stop losses because it is difficult to know that how correction will culminate.

Remark: - Technically it is o.k. but looking at today’s movement it seems that it could correct further before moving up again, therefore it would be safe to try long call above 8815 on 8-2-2017.  

 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.

CNX--BANK NIFTY-A TECHNICAL VIEW 8-2-2017

CNX--BANK NIFTY

Open-20367.30--High-20426.95--Low-20281.50—Close-20327.25 on

 7-2-2017

Support:  20309.65/20248/19915.20/19816.50/19794.95/19518/19435/19276.50/19096/19059/18961/18824.50/18722.85/18551/18537/18515---18441/18443.65.

Resistance: - 20470/20541.65/20575.80/20907.55.

It corrected today but the overall technical setup is o.k. But it has not filled the gap it created on 6-2-2017, furthermore it made lower high and lower low today which is slightly concerning and if moves below 20280 and sustain then it may correct further before moving up again. Please note that it may regain the up momentum once it closes above 20371.60 and if it fails to close above it then it may slip into deep correction. In view of today’s movement chances of correcting further looks quite possible and in that case it will find good support at 20229.65/19922.70/19794.95/19435.45. It is therefore suggested to avoid long call till it closes above 20371.60; however aggressive trader can try long call above 20356 with a stop loss of below 20280 or else try on decline near but not below the support points mentioned above with a self defined short stop losses because it is difficult to know that how correction will culminate.

Remark: - Technically it is o.k. but looking at today’s movement it seems that it could correct further from here before moving up again, therefore long call should only be tried once it closes above 20371.60. 

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.

Note: Price stated here is of spot market.

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.

CNX-NIFTY- A TECHNICAL VIEW -7-2-2017

CNX-NIFTY

Open-8785.45—High-8814.10---Low—8770.20—Close—8801.05 on

6-2-2017

Support: - 8800.65/8757.60/8736.95/8672.70/8641/8598.45/8564/8555/8518/8506/8493.95/8476.70/8461.05/8460.30/8400/8373/ 8327/8293.80/8274.95/8223/8210.10/8185/8063.

Resistance: -8830/8844.80/8849.75/8874/8893.35/8913.45/8968.70/8996.60/9119.20.

It is showing tremendous strength and it opened today with an up gap at 8785.45 within the resistance range of 8782—8821(see my post of 6-2-17) and thereafter moved up further and made a high of 8814.10 which was quite near to the upper end of the resistance range for the day (see my post for 6-2-17)but could not cross it and as expected it retreated back from  there for a while and made a low of 8770.20 but firmed up later to close almost near the high of the day. Please note that since it gave upside breakout from the weekly range of 8757.60----8672.70(see my post of 6-2-17), therefore as long as it holds the level of 8757.60 there is no potential threat of deep correction, short correction may happen anytime. But technically there is always a possibility that it could attempt to fill the today’s gap in next 3-4 days and if it does then it could come down to 8748 level and in that case long trade can only be tried if it moves again above 8757.60 and sustain.

Although it is on the firm technical footing and there is no sign of weakness as yet and it is definitely buy on dip market now. But since we are just away by 300 odd points from its all time high therefore, it is suggested to be extremely cautious in your trade position henceforth, because moving up from here to the all time high of 9119.20 it will face huge hurdle on the way at 8830/8874/8940/8969/9050, therefore possibility of a down correction is always there at any point of time.      

Please note that the trading range for 7-2-2017 is between 8785.45---8757.60---8823---8866. Therefore the following trading strategy can be tried.

1. Long call can be tried above 8815 with a stop loss of below 8785 for a target of 8823/8830/8850/8874.

2. Long call can be tried on decline near but not below 8757.60 with a stop loss of below 8740.  

It would be relatively safe to try long call above 8815 which may please be noted.

Remark: - Technically it is on a sound footing and no doubt it is buy on dip market, as it will face stiff resistance moving up towards it all time high level of 9119.20, so be cautious in your trade positions because correction may creep in anytime. Therefore it would be safe to try long call above 8815 on 7-2-2017.  

 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.

CNX--BANK NIFTY-A TECHNICAL VIEW 7-2-2017

CNX--BANK NIFTY

Open-20307.15--High-20462.45--Low-20298.05—Close-20371.60 on

 6-2-2017

Support:  20309.65/20248/19915.20/19816.50/19794.95/19518/19435/19276.50/19096/19059/18961/18824.50/18722.85/18551/18537/18515---18441/18443.65.

Resistance: - 20470/20541.65/20575.80/20907.55.

It is exhibiting huge strength technically. It opened with an up gap and thereafter moved up further and made a high of 20462.45 for the day and finally closed at 20371.60 with a gain of 174.79 points.

Please note that it gave huge upside breakout from the weekly range of 20248----19794.95(see my post of 6-2-17) and also from one of its important top of 20309.65, therefore as long as it holds the level of 20309.65 & 20248 there is no potential threat of deep correction, short correction may happen anytime. But technically there is always a possibility that it could attempt to fill the today’s gap in next 3-4 days and if it does then it could come down to 20230 level and in that case long trade can only be tried if it moves again above 20309.65 and sustain.

Looking at its up momentum at least now it seem that it is heading for hitting a new all time high in coming days/weeks but on the way it will face stiff resistance at 20405/20470/20541.45/20575.80. It is therefore suggested to be extremely cautious in your trade position henceforth, because possibility of a down correction is always there and it could creep in at any point of time.   

In view of the above observation on 7-2-2017 long call can only be tried above 20405 with a stop loss of below 20290 for a target of 20470/20541.45/20575.80. Avoid long call on decline on 7-2-2017. 

Remark: - Technically it is on a strong footing, but at this juncture caution should be exercised because it may also correct anytime. Therefore it would be safe to try long call above 20405 on 7-2-2017. 

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.

Note: Price stated here is of spot market.

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.

CNX-NIFTY- A TECHNICAL VIEW -6-2-2017

CNX-NIFTY

Open-8735.15—High-8748.25---Low—8707.75—Close—8740.95 on

3-2-2017

Support:- 8736.95/8672.70/8641/8598.45/8564/8555/8518/8506/8493.95/8476.70/8461.05/8460.30/8400/8373/ 8327/8293.80/8274.95/8223/8210.10/8185/8063.

Resistance: -8757.60/8800.65/8806.95/8844.80/8849.75/8893.35/8913.45/8968.70/8996.60/9119.20.

It is showing good strength and it has ended the week near the high of the week, which is a good sign. The important range for the coming week starting from 6-2-2017 is between 8757.60----8672.70 and then from 8640---8530. It is therefore suggested to try long call above 8757.60 with a stop loss of below 8725 for a target of 8782/8820/8850/8874 or buy on decline near but not below 8708 and then finally near but not below 8672.70 with a stop loss of below 8672 & 8640 respectively. It would be better and safe to try long call above 8758 on 6-2-2017. Please note that sustained break below 8640 will signal that this rally may end and break below 8530 will confirm the end of the on-going rally and then it may slip into deep correction. Therefore long call should be avoided below 8672.70 and below 8640 for sure.

It is important to mention here that for 6-2-2017 moving up the range of 8782---8821 may pose stiff resistance and if it does not get past this range then it could retreat from here, so be alert and watchful in your trade positions around this range.  

Remark: - Technically it is on a sound footing and no doubt it is buy on dip market, but at this juncture it looks critical and will face lot of hurdles moving up, so be cautious in your trade positions. It is therefore suggested to try long call only above 8758 and avoid buy on decline on 6-2-2017.

 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.

TRADING CALLS FOR 6-2-2017

TRADING CALLS

1. APOLLO HOSPITAL.

Buy above -1272, S/L-1264, Target-1286/1299/1315/1331.

2. ASIAN PAINTS.

Sell below -981, S/L-986, Target-970/963/954/937.

3. ADANI PORTS.

Sell below -301.70, S/L-303.70, Target-299/295/292.50/290/283.40.

4. AXIS BANK.

Buy above -492.50, S/L-490, Target-498/504/514.

5. BHARAT FORGE.

Sell below -945, S/L-950, Target-930/926/915/904.

6. BHEL.

Buy above -143, S/L-142, Target-146.80/150.70/154 .

7. CIPLA.

Buy above -611.50, S/L-607, Target-617.80/632/648/660.

8. COAL INDIA.

Buy above -327, S/L-325.50, Target-330.50/337.30/339.

9. DABUR (I).

Sell below -267.75,S/L-269, Target-263/259/255.

10. GLENMARK PHARMA.

Sell below -939, S/L-946, Target-923.80/913/899/885.

11. HINDUSTAN ZINC.

Sell below -318.40, S/L-321.0, Target-311/304/302/295.

12. TATA MOTORS.

Sell below -518, S/L-523, Target-512/507.50/495/492.

Note: Price stated here is of spot market. Please note that these intraday trading calls are based on previous 2-3 days movement therefore  it does not reflect the overall trend of the stock.

                                 

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

                              

                                          

                                     

                                        

                                         

                                  

                                        

CNX--BANK NIFTY-A TECHNICAL VIEW 6-2-2017

CNX--BANK NIFTY

Open-20061.90--High-20229.65--Low-20009.95—Close-20196.80 on

 3-2-2017

Support:- 19922.70/19816.50/19794.95/19518/19435/19276.50/19096/19059/18961/18824.50/18722.85/18551/18537/18515---18441/18443.65.

Resistance:-20168.35/ 20248/20264.80/20309.65/20541.65/20575.80/20907.55.

It steadily moved up and closed today within its very important range of 20168.35---20248 (see my post of 3-2-2017). It is exhibiting tremendous strength but it has to move above 20248 and sustain on the closing basis consistently to make an attempt to hit a new all time high, but attempting new high may not be smooth because it will face stiff resistance on the way up at 20310/20440 & 20575.80 levels. So 20248 is a very critical point and if it fails to move above it on the closing basis and sustain then it could correct before moving up further. Moving down the most important levels would be at 19794.95 & 19435.45, please note that break and close below 19794.95 will be an indication of break in the on-going uptrend and break and close below 19435.45 will confirm the end of the current up rally and then it may slip into deep corrective mode. So at present the important trading range is 20248----19794.95 and either side breakout will decide which way it can move, but looking at the present momentum chance are that it could give upside break. However plan your trade keeping the said range and resistances thereafter in mind for the effective outcome of your trade.  The bias is on the upside as of now, but it is critically poised, so be vigilant and cautious in your trade.

It is important to mention here that for 6-2-2017 moving up the range of 20230---20315 may pose stiff resistance and if it does not move above this range then it could retreat from here, so be cautious in your trade positions around this range.

In view of the above observation, it is suggested to try long trade either above 20248 with a stop loss of below 20180 for a target of 20297/20315/20440/20576 or on decline near but not below 19794.95 with a stop loss of below 19670. It would be better and safe to try long call above 20248 on 6-2-2017.

Remark: - Technically it is on a strong footing and no doubt it is buy on dip market, but at this juncture it is precariously poised but an upward bias. Therefore long call can only be tried above 20248. Avoid buy on decline on 6-2-2017. 

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.

Note: Price stated here is of spot market.

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.

TRADING CALLS FOR 3-2-2017

TRADING CALLS

1. ASIAN PAINTS.

Sell below -981, S/L-990, Target-970/963/953.

2. AUROBINDO PHARMA.

Buy above -693, S/L-688, Target-710/718/720/731.

3. BAJAJ AUTO.

Sell below -2801, S/L-2810, Target-2789/2772/2753/2701.

4. BANK OF BARODA.

Sell near -180-181, S/L-182.60, Target-177/173/170.

5. BHARAT FORGE.

Sell below -964, S/L-970, Target-940/932/926/915. 

6. DIVIS LAB.

Buy above -743, S/L-737, Target-757/772.

7. YES BANK.

Sell below -1381, S/L-1388, Target-1367/1353/1343/1334.

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