A TECHNICAL VIEW ON CNX-NIFTY FOR-28.4.2021

 

CNX-NIFTY

 Open—14493.80--High—14667.55—Low—14484.85---Close-14653.05 on 27.4.2021.

Support:14595/14484.12/14467.75/14459.50/14350.10/14264.40/14248/14222.80/14151.40/14024.85/13996.11/13981.75/13777.50/13596.75/13399.30/13145.85/13131.45.                                                                                                                                                           

Resistance:14653.35/14753.55/14883.20/14984.15/15051.60/15176.50/15257.10/15273.15/15336.30/15431.75/15471.                                                                                                                

 (Bold and underlined figures are most important)

It continued its up move today and closed with a good gain of 168.05 points. Please note that it is still into deep short term correction mode but the good thing is that it has bounced back above its long term rising trend line and also above its short term moving averages which is a very positive sign. Please note that its long term rising trend line is placed at 14595 for the day and if it hold this mark on the closing basis then it could further extend gains from here and if it breaks this level it may resume down move again but will accelerate down move only below 14454 level, furthermore its short downtrend line is placed at 14765(this count will reduce every day) for the day and if it moves above it and sustain on the closing basis then it could accelerate the up move, which may please be noted, looking at the current setup further rise seems quite possible as of now.

Critical Support points are at :--14595---14526.95---14454---14336.34.

Critical Resistance points are at :--14697.50---14765---14792---14943---15130---15176.

Kindly note that the on-going up move is a pullback rally and it may exhaust at any of these points  or earlier also and most critical point for the day would be 14765 on the upside and 15595 on the downside and breakout on the either side will give further direction which way it will move. Please note that as of now bias seems to look positive.

In view of the above observation long trade can be tried on decline near but not below 14595 or can buy if it moves above 14668 and sustain for some time. Since it is still into deep corrective mode  therefore short trade can also be tried on the reasonable rise  or can be tried on the price breakdown for taking advantage of the down move

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(Suggested)

1. Buy on decline if it manages to hold 14595 but not below it with a stop loss of 14550.   

Or

Buy if it moves above 14668  with a stop loss of 14630.

2. Sell on the rise near or within the range of 14750---14770 with a stop loss of 14800. It could be a risky trade but worth trying for intraday gain.

Sell if it maintains below 14550 for some time with a stop loss of 14600. 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—27.4.2021

 

CNX--BANK NIFTY

Open-32316.65--High-32603.70--Low—32144.80--Close-32275.15 on 26.4.2021

Support:32157.05/32130/31783.60/31661/31649.49/31297.30/31264.05/32260/31015/30915/30870/30843/30669/30648/30540/30338.35/30220.20/29687.70/29612.55/29156/28976.75/28525.45/28388.65/27652/26641—560/26441/25598.

Resistance;32347.20/32415.15/32465.45/32613.10/32842.30/33306.80/33990.80/34360/34430/34658.70.

(Bold and underlined figures are most important) 

As expected it did gave a decent rise and closed with a gain of 552.85 points. Please note that it is still into long term correction mode, but as long as it holds 32130 on the closing basis then it may continue with the up move and if it moves above 32613.10 which is the long term correction threshold point  then it may extend good gains. Similarly sustained break below 32130 on the closing basis will resume the down move again which may please be noted. The other observation will remain same as mentioned in the post for 26.4.2021.

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(Suggested)

1. Buy  on decline near 32130 but not below it with a stop loss of 32000. It could be a higly risky trade.  

2. Sell on the rise near or within the range of 32550---32650 with a stop loss of 32700. It could be a risky trade but worth trying for intraday gain in weak market.

Or

Sell if it maintains below 32130 for some time with a stop loss of 32290. It could be a risky trade but worth trying for intraday gain in weak 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.

 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-27.4.2021

 

CNX-NIFTY

 Open—14449.45--High—14557.50—Low—14421.30---Close-14485 on 26.4.2021.

Support:14484.12/14467.75/14459.50/14350.10/14264.40/14248/14222.80/14151.40/14024.85/13996.11/13981.75/13777.50/13596.75/13399.30/13145.85/13131.45.                                                                                                                                                           

Resistance:14565/14653.35/14753.55/14883.20/14984.15/15051.60/15176.50/15257.10/15273.15/15336.30/15431.75/15471.                                                                                                                

 (Bold and underlined figures are most important)

As expected it did gave a good rise and closed with a gain of 143.65 points. Please note that it is still into deep short term correction mode and below its long term rising trend line, but as long as it holds 14454 on the closing basis then it may continue with the up move and if it moves above 14565(it will move up every day) which is the trend line point for the day  and  sustains above it then it may extend gains. In this context please note that the trend line point would be rising every day. Similarly sustained break below 14454 on the closing basis will resume the down move again which may please be noted. The other observation will remain same as mentioned in the post for 26.4.2021.

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(Suggested)

1. Buy if it manages to hold 14454 but not below it with a stop loss of 14410. It could be a higly risky trade.  

2. Sell on the rise near or within the range of 14530---14565 with a stop loss of 14600. It could be a risky trade but worth trying for intraday gain in weak market.

Or

Sell if it maintains below 14420 for some time with a stop loss of 14460. It could be a risky trade but worth trying for intraday gain in weak 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.

 

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 UPDATE ON BITCOIN-25.4.2021

 

BITCOIN

Closed At:--$50050.87 on 24.4.2021  

 

Support:$47714.66/46542.51/46347.48/45290.59/43881.15/43241.62/41946.70/39966.41/38406.26.

 

Resistance:$50856.57/52829.54/53555.03/55604.02/58330.57/60267.19/61683.86/64863.10.

 

Further to my post of 16.3.2021 as expected it moved up and hit a new all-time high of $64863.10 on 14.4.2021 and then considerably moved down and currently quoting at $50229(approx) now. Its long term technical parameters are still holding up, but the short and medium term parameters and technical indicators are looking weak now therefore further fall from here cannot be ruled out but with in between short relief rallies. Please note that its important and critical key points as of now are at $61557---$59760.43---$56388.40---$53713.62---$50524.66---$50308(these figures can change).  It is below all its key points now therefore it is into long term correction mode and if it does not bounce back above $50308 &$50524.66(long term correction mode threshold points) and sustain on the closing basis then fall could accelerate from here in coming days. It is important to mention here that its pullback threshold point is at $51761.69(this figure can change), so if it moves above it and sustain on the closing basis then only it is expected to give moderate to reasonable rise else down move may resume again. Going up it will face critical resistance at -$54265.36---56288.88---58312.40---60816.07---61433.41,the possible up move may exhaust at any of these points or earlier also but if it moves and sustain above $61433.41then it could retest its all time high of $64863.10 or may go beyond also, but chances of  happening this looks slightly weak at this point of time. Similarly moving down its critical support points are at-$47714.66---46347.48---45590(this figure can change), please note that sustained close below $45590 could potentially threaten the long term uptrend which may be kept in mind. The short and medium term bias is down but the long term bias is still o.k. as of now.    

  

In view of the above observation, it is into long term corrective mode now and it could come out of it only, if it moves above $50524.66 and sustain on the closing basis, but it will give moderate to reasonable rise only once it closes above $51761.69 and sustain,therefore for safe trader  it is suggested to try long trade only once it closes above $51761.69 and sustain. However aggressive traders can try long trade on decline also at appropriate points or near $45590 but not below it with self defined stop losses. Please note that long trade in  long term corrective mode could be a very risky proposition, particulary buying on decline. So be alert and cautious in the long trade at this point of time.  

 

 

Note: Price stated here is of spot market.

 

Contact me for strategic guidance to enter and exit trade.

 

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.

 

 

Thanks 

Narendra Kumar Surana

suranank@gmail.com

Mobile—8240951127/9831313654.

 

 

INTRA-DAY TRADING CALLS FOR 26.4.2021

 

TRADING CALLS

 

1. AXIS BANK.

Can buy on decline but not below 667, S/L-663, Target-675/678/680/692/695/704.25.

Or

Can buy if it moves and sustain above 678 ,S/L-675,Target—692/695/704.25.

 

2. HDFC BANK.

Can buy on decline but not below 1405, S/L-1395, Target-1440/1450/1465/1493/1506.

Or

Can buy if it moves and sustain above 1440 ,S/L-1430,Target—1450/1465/1493/1506.

3. ICICI BANK.

Can buy above-567, S/L-563, Target-582/588/596/605.

4. KOTAK MAHINDRA BANK.

Can buy above-1736.50, S/L-1725, Target-1759/1773/1788/1809.

5. MAHINDRA & MAHINDRA.

Sell below-774, S/L-779, Target-769/758/750/738.50.

6. TECH MAHINDRA.

Sell below-945, S/L-951, Target-937/921/915/898.

7. TITAN COMPANY LTD.

Sell below -1451, S/L-1462, Target-1432/1415/1396/1375.  

8. UPL LTD.

Sell below-581, S/L, 586, Target-570/546/537/512.

9. EICHER MOTORS.

Sell below-2303, S/L,2320 ,Target-2287/2260/2240/2203/2146.

10. HCL TECH.

Sell below-950, S/L-957, Target-932/903/896/877.

 

                    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-NIFTY FOR-26.4.2021

 

CNX-NIFTY

 Open—14326.30--High—14461.15—Low—14273.20---Close-14341.35 on 23.4.2021.

Support:14264.40/14248/14222.80/14151.40/14024.85/13996.11/13981.75/13777.50/13596.75/13399.30/13145.85/13131.45.                                                                                                                                                           

Resistance:14350.10/14459.50/14467.75/14484.12/14653.35/14753.55/14883.20/14984.15/15051.60/15176.50/15257.10/15273.15/15336.30/15431.75/15471.                                                                                                                

 (Bold and underlined figures are most important)

After decent recovery on 22.4.2021 , today it ended the day  with a meager loss of 64.80 points. It is still into deep short term correction mode  and below major rising trend line therefore the overall technical setup is weak but some very short term technical parameters and  technical indicators are pointing that it may give some rise from here,before it resume down move again,which may please be noted. Its most critical points for the year 2021 are 14024.85---13996.11 & 13981.75 and it is way above these points now and as long as it holds these points on the closing basis uptrend will remain intact. Its other key points are at 15131.35---14998.70---14888.80---14336.34---13562.48---12430.50(except for 12430.50 other figures can change). It is way below its first 3 key point’s of15131.35---14998.70 &14888.80 for the last so many days, therefore it is already into deep short term correction mode and it seems that it will last long. Please note that sustained break below 14336.34 on the closing basis can push it into  medium term correction mode which can last even longer and most importantly sustained break below 13562.48 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.

It continues to be in deep short term correction mode for quite some time now. Please note that its overall technical setup still looks weak, but some very short term technical parameters and  technical indicators are showing little sign of improvement , so a rise form here cannot be ruled out before it resume the down move again, provided it holds its two tier critical support range of 14264---14222.80---14151.40 and then 14024---13981.75---13897 , please note that sustained break below the above mentioned range on the closing basis could trigger an accellerated fall. Similarly moving up its very critical resistance range  would be between 14454---14537---14589---14640---14698---14888.80---14943---, if it moves and closes above 14454 then it could give moderate to reasonable up move and if it moves and sustain above 14589 on the closing basis then it could extend the up move further, which may please be noted. Please note that if it remains below  the above mentioned support range on the closing basis then it is very likely to hit 13700---13600 levels or much below it on the downside in coming days,as of now it is likely to happen.

In view of the above observation, it is  into  deep short term correction mode, but some short term tercnical parameters and indicatorts are showing sign of little improvement, therefore long trade can be tried on decline at appropriate points or near but not below14151 and then within the range of 14024—13897 but not below it or buy if it moves and sustain above 14454 for some time.  Please note that long trade in deep short term corrective mode could be a very risky proposition, particulary buying on decline, but since there is some chance of an up from here at this point of time ,so one can try. Since it is into deep corrective mode and broken major rising trend line therefore it is suggested to try sell trade on the reasonable rise  or sell on the price breakdown for taking advantage of the down move till clarity on correction completion emerges.

 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(Suggested)

1. Buy on decline at appropriate points  or near 14151 but not below it with a stop loss of 14130. It could be a higly risky trade.  

Or

Buy on decline  within the range of 14024---13897  but not below it with a stop loss of 13870. It could be a higly risky trade.  

Or

Buy if it moves and sustain above 14454 for some time with a stop loss of 14415. It could be a risky trade.   

2. Sell on the rise near or within the range of 14480---14550 with a stop loss of 14600. It could be a risky trade but worth trying for intraday gain in weak market.

Or

Sell if it maintains below 14151 for some time with a stop loss of 14200. It could be a risky trade but worth trying for intraday gain in weak 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.

 

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.