TRADING CALLS FOR----13-11-2017

A TECHNICAL VIEW ON CNX--BANK NIFTY--13-11-2017

CNX--BANK NIFTY

Open-25250.90--High-25598.55--Low-25237.20—Close-25498.95 on

 10-11-2017

MajorSupport:- 25470—455/25407/25339/25255/25198.80/25186.05/25184.35/25171.75/25119.50/25105.35/25078.65/25010.36/24978.15/24878.65/24798.65/24685.43/24560.75.

MajorResistance:-25560/25580/25598.75/25652/25694.60---695.75/25812.86/25850/26180/26441.80.

For-13-11-17 the intra-day short support and resistance levels are given here-under:-

Support:-25470—455/25407/25339/25255/25198.80/25186.05/25184.35.

Resistance: 25560/25580/25598.75/25652/25694.60---695.75 /25598.75 25695.75.

It started the week with three down day in a row but staged robust recovery in last two days and ended the week above its short term moving averages, but it is still below its critical resistance range which is placed at 25620---25753---25883(it changes every day) for 13-11-2017 and of course below its multiple top in the range of 25694.60—695.75. But if in next 2-3 trading session it moves above 25581 and sustain on the closing basis then it may cross its multiple top and critical resistance range also and move further ahead else this pullback move may end here and it gets into correction again. Therefore in light of the above till it closes above 25581 and sustain the fear of it moving down cannot be ruled out. Moving down it may find support at 25484—455/25407/25353—339/25255—247/25184.35 & 25119.50 and may bounce back from any of these points but sustained break below 25184.35 & 25119.50 on the closing basis may drag it down further with accelerated pace.

In view of the above observation avoid long trade till it closes above 25581. But aggressive traders can try long trade if it moves and sustain above 25500 with a stop loss of below 25400, avoid buy on decline strategy for the day. Similarly short trade can also be tried on the rise near but not above 25581 with a stop loss of above 25630.    

Remark: - The trend is up, but at this point of time it looks evenly poised therefore take your trading call as suggested above.

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.

A TECHNICAL VIEW ON CNX--NIFTY----13-11-2017

 CNX-NIFTY

Open-10304.35—High-10344.95---Low—10254.10---Close—10321.75 on 10-11-2017

Major Support: 10319.69/10263.58/ 10251.85/10209.98/10196.77/10178.95/10137.85/10124.50/10123.35/10080.67/10062.97/9992---9988/9970/9955-28/9870—50/9792-88/9740/9709.30/9700/9688/9687.55/9685.55

 Major Resistance: 10350.21—353.32/10378.70/10384.50/10390.35/10403.81--06/10423.80/10441/10452.50/10459.76/10461.70/10482.63/10490.45/10536.52/ 10578/10667.67/10707.88.

                                                                                                                                                                                                                              

For-13-11-17 the intra-day short support and resistance levels are given here-under:-

Support: -10319.69/10303.15/10263.58/10251.85/10209.98/10196.77/10178.95/10137.85/10124.50/10123.35/10080.67/10062.97/10043---015/9992--88.                                                                                                                

Resistance: 10341--50/10362/10376/10384.50/10390.35/10423.80/10429/10441/10452.50/10459.76/10461.70/10482.63/10490.45/10536.52/ 10540/10578/10667.67/10707.88.

 After first three days of fall in a row it had two short up days in last two days of the week ended on 10-11-17. But despite the up days the fear of on-going correction lasting for few more days is still there as it has broken bottom on the line & bar chart both, furthermore it is running below some of its short term moving averages which are placed in the range of 10339----376(it changes every day) and some of the important long term averages which are placed in the range of 10350---10429(it changes every day) and crossing these range looks slightly difficult at this point of time. But if it moves above 10391 on the closing basis and sustain then it may cross the resistance range and up move may resume. The broad trading range for the week would be 10490.45---10445.75---10403.81---10251.85 and trading range for the day would be 10251.85---10284—10350---10391. It is therefore suggested to structure your trade keeping the aforesaid range in mind. Since it is in correction mode therefore trying long trade could be a risky affair till it closes above 10391. Short trade seems a better option till clarity on bottom formation emerges.      

In view of the above observation avoid long trade for taking advantage of the pull back move; however aggressive traders can try long trade if it moves above 10341with a stop loss of below 10284. Since it is in correction mode, so short trade seems better option and can be tried on the rise near but not above 10375--10390 with a stop loss of above 10410 or sell if it breaks 10303level and sustain for some time with a stop loss of above 10341.

Remark: - The trend is up and despite last two days short up day, correction is still likely to continue, therefore safe trader should avoid long trade for the day. Instead short trade seems better option and should be tried as suggested above.

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---10-11-2017

A TECHNICALL VIEW ON CNX---NIFTY---10-11-2017

 CNX-NIFTY

Open-10358.65—High-10368.45---Low—10266.95---Close—10308.95 on 9-11-2017

Major Support: 10263.58/ 10251.85/10209.98/10196.77/10178.95/10137.85/10124.50/10123.35/10080.67/10062.97/9992---9988/9970/9955-28/9870—50/9792-88/9740/9709.30/9700/9688/9687.55/9685.55

 Major Resistance: 10323.05/10350.21/10384.50/10390.35/10403.81/10423.80/10441/10452.50/10459.76/10461.70/10482.63/10490.45/10536.52/ 10578/10667.67/10707.88.

                                                                                                                                                                                                                              

For-10-11-17 the intra-day short support and resistance levels are given here-under:-

Support: -10263.58/10251.85/10209.98/10196.77/10178.95/10137.85/10124.50/10123.35/10080.67/10062.97/10043---015/9992--88.                                                                                                               

Resistance: 10323.05/10346.07/10382.91/10384.50/10390.35/10423.80/10424.80/10431.75/10441/10452.50/10459.76/10461.70/10482.63/10490.45/10536.52/ 10540/10578/10667.67/10707.88.

It had a very short up day today on the closing basis but it seems that the correction is still on. The broad observation remains the same as mentioned in my post of 8-11-17& 9-11-17. The trading range for the day is 10384.50---10281---10251.85 and break below 10251.85 may drag it down to 10209.98& 10196.77. Its key support points are at 10178.95/10137.85/10123.35, so be alert around this range it may bounce back from here for a pull back. But sustained break below 10123.35 on the closing basis may accelerate the fall and it may seek much lower level then. The bias is on the downside; therefore long trade should be avoided.

In view of the above observation avoid long trade now; however aggressive traders can try long trade on decline in the range of 10178.95----10123.35 but not below 10123.35 with a stop loss of below 10080. It is a sell on the rise market now, so short trade seems better option and can be tried now or on the rise but if it moves above 10323.60 then wait for some time to move it up further and try selling near but not above 10384.50 with a stop loss of above 10405 or wait for it to break below 10303 to sell in this case stop loss would be above 10325. Please note that if market opens with a gap down (SGX-Nifty is indicating so) i.e. below 10266.95 then wait for some time for settle it down or move up a bit then initiate trade.

Remark: - The trend is up but it is in correction mode now and this is likely to continue for some time, so long trade should be avoided now and can only be tried as mentioned above. Instead short trade seems better option and should be tried as suggested above.

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.

A TECHNICAL VIEW ON CNX--BANK NIFTY---9-11-2017

CNX--BANK NIFTY

Open-25375.80--High-25435.60--Low-25119.50—Close-25184.35 on

 8-11-2017

MajorSupport:- 25171.75/25119.50/25105.35/25078.65/25010.36/24978.15/24878.65/24798.65/24685.43/24560.75.

MajorResistance:- 25186.05/25198.80/25247/25353.05/25484.03/25598.75/25694.60---695.75/25812.86/25850/26180/26441.80.

For-9-11-17 the intra-day short support and resistance levels are given here-under:-

Support:-.25171.75/25105.35/25078—58/24978--957/24833--798.

Resistance: 25186.05/25198.80/25247/25252/25283/25336/ 25353.05/25484.03/25529/25598.75 25695.75/25724/25852/26180/26441.80.

The broad observation remains the same as mentioned in my post of 8-11-17. It weakened further today and it was sort of a mild confirmation that the on-going correction may last for couple of days with in between short up moves, therefore long trade should be avoided at this point of time. It has broken few of its important and key support points of 25198.80&25186.05 and also broke some of the short term moving averages also which is a bad sign. However going down it will have good support in the range of 25105---- 25078—58/24978--957/24833—798 and it may bounce back from any of these points. But please note that sustained break below 24978 may drag it down to 24798 and break below this mark may accelerate the fall and it may seek much lower levels. If it stages a relief rally today then 25350---25440 would be the tough range to cross.  

In view of the above observation safe trader should avoid long trade now because trying long trade for relief rally could be extremely dicey and dangerous. Therefore long trade should only be tried once the fall is arrested and it starts looking up again. But aggressive traders can try long trade on decline in the range of 24978--833 with a stop loss of below 24770. Since it is in correction mode short trade would be a better option and it can be tried on the rise but not above 25380 with a stop loss of above 25440.    

Remark: - The trend is up but it is in correction mode now and this is likely to continue for some time, so long trade should be avoided now and can only be tried after the fall is arrested and it shows sign of moving up again. Instead short trade should be tried as suggested above.

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.

A TECHNICAL VIEW ON CNX--NIFTY--9-11-2017

 CNX-NIFTY

Open-10361.95—High-10384.25---Low—10285.50---Close—10303.15 on 8-11-2017

Major Support: 10263.58/10251.85/10209.98/10196.77/10178.95/10137.85/10124.50/10123.35/10080.67/10062.97/9992---9988/9970/9955-28/9870—50/9792-88/9740/9709.30/9700/9688/9687.55/9685.55

 Major Resistance: 10323.05/10350.21/10384.50/10390.35/10403.81/10423.80/10441/10452.50/10459.76/10461.70/10482.63/10490.45/10536.52/ 10578/10667.67/10707.88.

                                                                                                                                                                                                                              

For-9-11-17 the intra-day short support and resistance levels are given here-under:-

Support: -10263.58/10251.85/10209.98/10196.77/10178.95/10137.85/10124.50/10123.35/10080.67/10062.97/10043---015/9992--88.                                                                                                               

Resistance: 10323.05/10348.02/10378.50/10384.50/10390.35/10423.80/10431.75/10441/10452.50/10459.76/10461.70/10482.63/10490.45/10536.52/ 10540/10578/10667.67/10707.88.

The broad observation remains the same as mentioned in my post of 8-11-17. Today’s weakness in it was sort of a mild confirmation that the on-going correction is going to last for some time with in between short up moves , therefore long trade should be avoided at this point of time. It broke its strong support range last layer today, so it has become strong resistance range now which is placed at 10342.02---10378.50---10420.18(it changes every day) for 9-11-2017. It has also broken and closed below its strong support point of 10323.60, so it is likely that down move may pick up momentum now, but going down it has bed of support in the range of 10263.58---10196.77(10263.58—10251.85—10209.98—10196.77) and then its most important and key support points are at 10178.95/10137.85/10123.35, so there is a possibility that it may bounce back from any of these points and may resume the up move again. But sustained break below 10123.35 on the closing basis may accelerate the fall and it may seek much lower level then.

In view of the above observation safe trader should avoid long trade now because trying long trade for relief rally could be extremely dangerous. Therefore long trade should only be tried once the fall is arrested and it starts looking up again. But aggressive traders can try long trade if it moves above 10323.60 and sustain for some time with a stop loss of below 10285(it could be a risky trade) or on decline in the range of 10196---10123.35 with a stop loss of below 10080. Since it is in correction mode short trade would be a better option and it can be tried now or on the rise but not above 10384.50 with a stop loss of above 10405.     

Remark: - The trend is up but it is in correction mode now and this is likely to continue for some time, so long trade should be avoided now and can only be tried after the fall is arrested and it shows sign of moving up again. Instead short trade should be tried as suggested above.

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---9-11-2017

TRADING CALLS FOR---8--11--2017

A TECHNICAL VIEW ON CNX--BANK NIFTY--8-11-2017

CNX--BANK NIFTY

Open-25669.10--High-25695.75--Low-25248.95—Close-25300.80 on

 7-11-2017

MajorSupport:-25247/25198.80/25186.05/25171.75/25105.35/25078.65/24881.26/24878.65/24798.65/24685.43/24560.75.

MajorResistance:-25353.05/25484.03/25598.75/25694.60---695.75/25812.86/25850/26180/26441.80.

For-8-11-17 the intra-day short support and resistance levels are given here-under:-

Support:-. 25247/25198.80/25186.05/25171.75/25105.35/25078.65.

Resistance: 25353.05/25484.03/25529/25598.75 25695.75/25724/25852/26180/26441.80.

It opened on a firm note and made a new high of 25695.75 then plunged down and broke last three days low and closed near the low of the day with a loss of 270.35 points. It also broke its recent bottom of 25427.30 on the line chart decisively and broke some of regression channel support line too but the last regression support line is at 25190 for 8-11-17. Overall it exhibited tremendous weakness today and as apprehended (see my post of 7-11-17) it seems that it has gotten into correction mode and it may last for few days before resuming the up move again, therefore long trade should be avoided till the fall is arrested and it starts looking up again. Going down its important support points are at 25247/25198.80/25186.05/25171.75/25141/25105.35 &25078, it may bounce back from any of these points but sustained break below 25078 may drag it down sharply. Similarly if it moves up it will encounter stiff resistance at 25484.03--25598.75--25694.60---695.75. It can gather up momentum only if it moves above 25695.75 and sustain on the closing basis and then crosses its tough resistance range, chances of which happening  fast looks   slim at this point of time.

In view of the above observation safe trader should try long trade only if it moves and closes above 25651 & 25696 or after the fall is arrested and it starts moving up again, but aggressive traders if they wish to can try long trade on decline in the range25198---25105 with a stop loss of below 25000, it could be a risky trade.  Since today was the first day of the fall therefore there is no clear indication of going fearlessly short in the market, but the price pattern indicate that correction may last for some time, therefore for taking advantage of this correction short trade can be tried if it breaks 25247 with a stop loss of above 25300 or on the rise in the range of 25490---25525 with a stop loss of above 25600.    

Remark: - The trend is still up but as anticipated it corrected today and that too sharply therefore it seems that the correction may last for couple of days, so long trade should be avoided now and can only be tried it moves and closes above 25651 & 25696 or after the fall is arrested and it show sign of moving up again. Instead short trade can be tried now as suggested above.

 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.

A TECHNICAL VIEW ON CNX--NIFTY--8-11-2017

 CNX-NIFTY

Open-10477.17—High-10485.75---Low—10340.80---Close—10350.15 on 7-11-2017

Major Support: 10323.05/10251.85/10226.15/10178.95/10137.85/10124.50/10123.35/10080.67/10062.97/9992---9988/9970/9955-28/9870—50/9792-88/9740/9709.30/9700/9688/9687.55/9685.55

 Major Resistance: 10384.50/10390.35/10423.80/10431.75/10441/10452.50/10459.76/10461.70/10482.63/10490.45/10536.52/ 10578/10667.67/10707.88.

                                                                                                                                                                                                                              

For-8-11-17 the intra-day short support and resistance levels are given here-under:-

Support: -10337.51/10323.05/10251.85/10226.15/10178.95/10137.85/10124.50/10123.35/10080.67/10062.97/10043---015/9992--88.                                                                                                               

Resistance: 10374.58/10384.50/10390.35/10423.80/10431.75/10441/10452.50/10459.76/10461.70/10482.63/10490.45/10536.52/ 10540/10578/10667.67/10707.88.

It opened on firm note but could not cross its previous day’s high of 10490.45 and broke previous day’s low, furthermore it also broke two layer of its three layered strong support range and now very near to the last layer support therefore now it has become support and resistance range and placed at  10337.51---10374.58---10415.15 for 8-11-17. It also broke its rising trend line, its regression channel support line,  its recent bottom on the line chart at 10423.80 and one of the key support point of 10384.50 decisively and closed the day below all the recent important parameters with a loss of 101.65 points, which is a bad sign. As apprehended (see my post of 7-11-17) the correction has begun and it may last for few days and its intensity could be moderate to sharp therefore it has to be seen on the daily basis that how it is finally going to culminate. Please note that if it breaks and sustain below 10323.60 on the closing basis then the fall may pick up momentum and going down it may find support at 10306.90/10263.58/10251.85/10209.98/10196.77 and there is possibility that it may bounce back from any of these points. But the key support points are 10178.95/10137.85/10123.35 and sustained break below 10123.35 may accelerate the fall. It is therefore suggested to avoid long trade till the fall is arrested and it shows visible sign of correction completion.

In view of the above observation safe trader should try long trade only if it moves and closes above 10452 or after the fall is arrested and it starts moving up again, but aggressive traders if they wish to can try long trade on dip based on support points and key support points mentioned above with short stop losses. Although there is no clear indication of initiating a short trade now, but today’s fall indicate that correction has begun and it may last for few day. Therefore for taking advantage of this correction short trade can be tried if it breaks 10323 with a stop loss of above 10391 or on the rise in the range of 10423---10440 with a stop loss of above 10465.     

 Remark: - The trend is up but as anticipated it corrected today and that too sharply therefore it seems that the correction may last for couple of days, so long trade should be avoided now and can only be tried above 10452 or after the fall is arrested and it show sign of moving up again. Instead short trade can be tried now as suggested above.

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.

A TECHNICAL VIEW ON CNX--BANK NIFTY---7-11-2017

CNX--BANK NIFTY

Open-25569--High-25694.60--Low-25529.50—Close-25571.15 on

 6-11-2017

MajorSupport:-25542.73/25475.70/25427.30(on the closing basis)/25198.80/25186.05/25171.75/25105.35/25078.65/24881.26/24878.65/24798.65/24685.43/24560.75.

MajorResistance:- 25650.70/25695.50/25812.86/25850/26180/26441.80.

For-7-11-17 the intra-day short support and resistance levels are given here-under:-

Support:-. 25529.50/25475.70/25427.30/25198.80/25186.05/25171.75/25105.35/25078.65.

Resistance: 25579/ 25695.50/25713/25836/25850/26180/26441.80.

It opened on a flat to positive note and moved up further but could not cross the previous day’s high of 25695.50, so it has made double top in the range of 25695.50 & 25494.60. Furthermore it has fallen below its tough resistance range which is placed at 25579---25713---25836(it changes every day) for 7-11-2017. The day’s movement was slightly weak but the technical setup is still o.k., but due caution is needed in long trade because it has made double top and slipped below its strong resistance range , therefore chances of it getting into corrective mode is also there. The expected trading range for the day would be 25696---25651---25520---25427 and if it moves above 25696 and sustain then the up move may continue ,similarly break below 25427 on the closing basis can accelerate the fall.  

In view of the above observation long call should only be tried if it moves above 25696 and sustain for some time with a short stop loss of below 25620. However aggressive trader can try long call even if it moves above 25651 and sustain with a short stop loss of below 25569, it could be relatively risky trade but worth trying. But please note that the authentic stop loss for all long trade would be below 25490 for the day. Avoid buy on decline strategy now.

Remark: - The trend is up but at this point the chances of it getting into correction mode also reasonably bright, therefore it would be safe to try long call above 25698 and avoid buy on decline today.  

 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.

A TECHNICAL VIEW ON CNX--NIFTY--7-11-2017

 CNX-NIFTY

Open-10431.75—High-10490.45---Low—10413.75---Close—10451.80 on 6-11-2017

Major Support: 10423.80(closing basis)/ 10384.50/10331.26/10323.05/10251.85/10226.15/10178.95/10137.85/10124.50/10123.35/10080.67/10062.97/9992---9988/9970/9955-28/9870—50/9792-88/9740/9709.30/9700/9688/9687.55/9685.55

 Major Resistance: 10459.76/10461.70/10482.63/10490.45/10536.52/ 10578/10667.67/10707.88.

                                                                                                                                                                                                                              

For-7-11-17 the intra-day short support and resistance levels are given here-under:-

Support: -10407/10484.50/10369/10331.26/10251.85/10226.15/10178.95/10137.85/10124.50/10123.35/10080.67/10062.97/10043---015/9992--88.                                                                                                               

Resistance: 10459.76/10461.70/10482.63/10490.45/10536.52/ 10540/10578/10667.67/10707.88.

It opened on a negative note and went down further then recovered sharply to cross the upper band for the day’s range i.e.10461.70 and hit a new high of 10490.45 but at the end of the day closed below the upper band for the day with a meager loss of 0.70 points. It is still above its strong support range which is placed at 10407---10400---10369---10331(it changes every day) for 7-11-2017. It has been making new high for last four days which is not significant enough, therefore either it is consolidating here or may be fatigued because every day it is coming near its strong support range and then move up. So it looks that it is evenly poised at this point of time and can move either way in coming days. Going down the alert point for the day would be 10400 but the key support points are at 10384.50 & 10323.95 and sustained break below 10323.95 on the closing basis may drag it down further and fall may accelerate. In light of this avoid long trade completely if it sustain below 10384.50 on the closing basis. Similarly if it moves above 10461.70 and sustain on the closing basis then if may continue the up momentum.

In view of the above observation avoid long trade on decline and can try it only if it moves and sustain above 10461.70 with a stop loss of below 10400. However aggressive trader can try buy on decline near 10400 with a stop loss of below 10380 but it could be a risky trade. 

Remark: - The trend is up and as it is hitting new high every day, therefore long trade can be tried as suggested above but with caution because it may be fatigued also and may get into correction mode from here, so avoid buy on decline strategy now.

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---6-11-2017

A TECHNICAL VIEW ON CNX--BANK NIFTY---6-11-2017

CNX--BANK NIFTY

Open-25531.40--High-25695.50--Low-25394.95—Close-25650.70 on

 3-11-2017

MajorSupport:-25542.73/25475.70/25427.30(on the closing basis)/25198.80/25186.05/25171.75/25105.35/25078.65/24881.26/24878.65/24798.65/24685.43/24560.75.

MajorResistance:- 25695.50/25812.86/25850/26180/26441.80.

For-6-11-17 the intra-day short support and resistance levels are given here-under:-

Support:-. 25561.93/25542.73/25475.70/25427.30/25198.80/25186.05/25171.75/25105.35/25078.65.

Resistance: 25695.50/25698/25813/25850/26180/26441.80.

It opened on a firm note and made a new high and gotten into tough resistance range which is placed at 25561.93---25697.15---25820.40(it changes every day) for 6-11-2017. It ended the week near the high, which is a good sign. The technical setup is o.k. and it is showing good strength, therefore it is likely that it may cross the strong resistance range in coming days/week. But since it is in midst of it now and furthermore the gap it created on1-11-2017 still exist and it could still make an attempt to fill the same in next 1-2 days and if it does that then it can come down to 25078, so the chances of moving down also cannot be ruled out here, therefore due alertness and cautiousness is needed in long trade at this point of time. The key support point for the day would be 25330 and resistance point would be 25698.  

In view of the above observation the broad trading range for the day is 25698---25330 and short trading range is 25698----25561---25440 and sustained break above 25698 can take it up further, else it may trade in short range or very likely to drift on the downside. So, long trade can be tried if it moves and sustain above 25698 with a stop loss of below 25560 or on decline near but not below 25427 with a stop loss of below 25330, it could be a risky trade but worth trying. It would be better and relatively safe to try long trade if it moves and sustain above 25698.

Remark: - The trend is up and price is also firm, but since it is  in midst of it tough resistance range and gap filling chances are also there ,therefore it would be safe to try long call above 25698 and avoid buy on decline today.  

 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.

A TECHNICAL VIEW ON CNX--- NIFTY----6-11-2017

 CNX-NIFTY

Open-10461.55—High-10461.70---Low—10403.60---Close—10452.50 on 3-11-2017

Major Support: 10423.80(closing basis)/ 10384.50/10331.26/10323.05/10251.85/10226.15/10178.95/10137.85/10124.50/10123.35/10080.67/10062.97/9992---9988/9970/9955-28/9870—50/9792-88/9740/9709.30/9700/9688/9687.55/9685.55

 Major Resistance: 10459.76/10461.70/10482.63/10536.52/ 10578/10667.67/10707.88.

                                                                                                                                                                                                                              

For-6-11-17 the intra-day short support and resistance levels are given here-under:-

Support: -10399.94/10484.50/10377/10361.60/10331.26/10324/10251.85/10226.15/10178.95/10137.85/10124.50/10123.35/10080.67/10062.97/10043---015/9992--88.                                                                                                               

Resistance: 10459.76/10461.70/10482.63/10513/10536.52/ 10578/10667.67/10707.88.

 It opened with a small up gap but filled it during the day ,however the gap it created on 1-11-2017 still exist and it could still make an attempt to fill the same in next 1-2 days and if it does then it can come down to 10367.70. The overall technical setup is good. Furthermore it ended the week near the high which indicate good strength; therefore it is expected to rise further from here. Its strong support level is placed at 10399.94---10361.60---10324(it changes every day) for 6-11-2017 but the key support points are at 10384.50 & 10323.95 and sustained break below 10323.95 on the closing basis may drag it down further and fall may accelerate. In light of this avoid long trade if it sustain below 10384.50 on the closing basis.

In view of the above observation the broad trading range for the day is 10461.70---10384.50 and short trading range is 10461.70----10423.80---10403 and sustained break above 10461.70 can take it up further, else it may trade in short range or drift on the downside. So, long trade can be tried if it moves and sustain above 10461.70 or on decline but not below 10423.80 with a short stop loss of below 10395, but the authentic stop loss would be below 10360 for all long trade. It is suggested to try long trade above 10461.70 only and avoid buy on decline for the day.

Remark: - The trend is up and as it is hitting new high every day, therefore long trade can be tried as suggested above but with caution as moving ahead it has good resistance at 10482.63/10513/10536.52. 

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.