Nifty-Technical View-7-8-14

NIFTY CLOSED AT 7672.05 ON 6-8-14

 SUPPORT: - 7662.50 / 7639.55 /  7602.60 / 7593.90 / 7563.50 / 7487.50 / 7481.30 / 7447.20/ 7441.60 / 7422.15 / 7206.70.

 RESISTANCE:-7700.05 / 7721.30 / 7731.05 / 7799.90 / 7808.85 / 7840.95 / 7873 / 8060 / 8125.

  (Figures in bold are important)

 Nifty opened down by 20 points and could not cross even the previous day's close of 7746.55  and made a high of 7740.95 and low of 7658.95 for the day before closing the day near the low at 7672.05.It could not hold on to the yesterday’s gain today instead went down sharply by 74 points which shows gross weakness in it and this indicates that it could witness further reasonable to big fall in coming days. It has just closed above the lower band of the short term DMA range today and the range  is between 7739—7667(it changes every day) for 7-8-14, therefore fresh long call is a  complete avoid till it moves above the upper band of the short term DMA and stays, those who are still holding the long trades for them  the authentic stop loss s below 7593(it changes every day) for 7-8-14  below this point nifty will get support at 7540 & 7422. 

REMARK:- Long term trend is still up but it seems that we are in down correction and this may last for few days, therefore long call is a complete avoid for now until and unless it moves above the upper band of the short term DMA or try long call when it gives  visible sign of completion of down correction The expected region for aggressively trying the long call would be between 7100---7250 .As of now ,I would suggest to try short call on the rise at appropriate level with an adequate stop loss.

 Kindly note that make your cost your stop loss in favorable trade and then trail it as the price moves 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

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CNX-Bank Index-Technical View-6-8-14

CNX-Bank Index closed at 15293.25 on 5-8-2014

SUPPORT: - 15267.60 / 15137.60 / 15096.10 / 15089.30 / 14933 / 14858.90 / 14857.50 / 14709.30 / 14338.65 / 14063.60 / 13414.30. 

RESISTANCE: - 15499.70 / 15568.05 / 15592.80 / 15626.90 / 15725.80 / 15742.05/ 15930 / 16308 /.

 (Figures in bold are important)

Index opened firmly at 15283.60 and then made a low of 15105.90 and a high of 15343.50 for the day before closing the day at 15293.25. It has moved above the lower band of the short term DMA range today but could not close above this range and the range is between 15335—15161(it changes every day) for 6-8-14, therefore I suggest to avoid fresh long call till it closes above the short term DMA upper band ie.15335 for 6-8-14 and stays and also avoid long call below 15267.60, however those who are having long position taken at the lower level and they still want to hold the position can take that chance but get alerted below 15161 on 6-8-14.The authentic stop loss as of now for all long trade is below 15096.10. If index moves up then it will face good resistance in the region of 15410—15550 for 6-8-14

 REMARKS:-Long term trend is still intact , avoid long calls below short term DMA upper band ie.15335 for 6-8-14 and below 15267.60 for sure for the month of August-14.

Kindly note that make your cost your stop loss in favorable trade and then trail it as the price moves 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 the trade

                                             

Nifty-Technical View-6-8-14

NIFTY CLOSED AT 7746.55 ON 5-8-14

 SUPPORT: - 7731.05 / 7721.30 / 7700.05 / 7662.50 / 7639.55 /  7602.60 / 7593.90 / 7563.50 / 7487.50 / 7481.30 / 7447.20/ 7441.60 / 7422.15 / 7206.70.

 RESISTANCE:- 7799.90 / 7808.85 / 7840.95 / 7873 / 8060 / 8125.

  (Figures in bold are important)

 Nifty opened with a up gap today but filled the gap during the day and made a low of 7638.05 and a high of 7752.45 for the day before closing the day near the high at 7746.55. It has just closed below the upper band of the short term DMA range today and the range  is between 7750—7665(it changes every day) for 6-8-14, therefore I still suggest to avoid fresh long call till it closes above and  the short term DMA upper band ie.7750 and stays, however those who are having long position taken at the lower level and they still want to hold the position can take that chance  but get alerted below 7721.30.Kindly note that the authentic stop loss for all long trade is below 7582(it changes every day) for 6-8-14.It will face  good resistance at 7799.90,7808.85 & 7840.95 going up.

REMARK:- Long term trend is up but avoid long call until and unless it moves above the short term DMA range ie.7750 for 6-8-14 and those who are already having long calls be get alerted below 7721.30.

 Kindly note that make your cost your stop loss in favorable trade and then trail it as the price moves 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 the trade

CNX-Bank Index-Technical View-5-8-14

CNX-Bank Index closed at 15242.35 on 4-8-2014

SUPPORT: - 15137.60 / 15096.10 / 15089.30 / 14933 / 14858.90 / 14857.50 / 14709.30 / 14338.65 / 14063.60 / 13414.30. 

RESISTANCE: - 15267.60 / 15499.70 / 15568.05 / 15592.80 / 15626.90 / 15725.80 / 15742.05/ 15930 / 16308 /.

 (Figures in bold are important)

Index opened firmly at 15242.20 but could not breached the high and low of the previous day and made a high of 15326 and low of 15128.10 for the day before closing the day at 15242.35.It seems that today’s move was a pull- back of the previous day’s fall, however  It has moved above the lower band of the short term DMA range today and the range is between 15370—15165(it changes every day) for 5-8-14, therefore I suggest to avoid fresh long call till it moves above the short term DMA band ie.15370 for 5-8-14 and stays and also avoid long call below 15267.60, however those who are having long position taken at the lower level and they still want to hold the position can take that chance with a stop loss of below 15096 but get alerted below 15165.I suggest to avoid long call below 15267.60 for the month of August-14 and below 15127.80 & 15096.10 for sure for the entire remaining week.

 REMARKS:-Long term trend is still intact but avoid long calls below short term DMA upper band ie.15370 and below 15267.60.

Kindly note that make your cost your stop loss in favorable trade and then trail it as the price moves 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 the trade

                                            

Nifty-Technical View-5-8-14

NIFTY CLOSED AT 7683.65 ON 4-8-14

 SUPPORT: - 7662.50 / 7602.60 / 7593.90 / 7563.50 / 7487.50 / 7481.30 / 7447.20/ 7441.60 / 

7422.15 / 7206.70.

 RESISTANCE:-7602 / 7662.50 / 7700.05 / 7721.30 / 7731.05 / 7799/90 / 7808.85 / 7840.95 / 7873 / 8060 / 8125.

  (Figures in bold are important)

 Nifty opened on a positive note but did not breached the low and high of the previous day and made a low of 7622.05 and high of 7694.80for the day before closing the day near the high point at7683.65.It seems that today’s move was a sheer pull back of previous day’s steep fall. However it has moved above the lower band of the short term DMA range today and the range is between 7743—7660(it changes every day) for 5-8-14, therefore I suggest to avoid fresh long call till it moves above the short term DMA band ie.7743 and stays, however those who are having long position taken at the lower level and they still want to hold the position can take that chance with a stop loss of below 7568 but get alerted below 7662.50.I suggest to avoid long call below 7662.50 for the month of August-14 and below7639.55,7602.55 & 7593.90 for the entire remaining week . The possible strong support for nifty is at 7568(it changes every day)for 5-8-14 and if this is broken then nifty may head for reasonable to sharp fall .

REMARK:- Long term trend is up but avoid long call until and unless it moves above the short term DMA range ie.7743 for 5-8-14 and off course below 7662.50& 7639.55. Aggressive trader  can try short call on the rise or near 7740 with a stop loss of 7755.

 Kindly note that make your cost your stop loss in favorable trade and then trail it as the price moves 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 the trade

CNX-Bank Index-Technical View For The Week Starting From-4-8-14

CNX-Bank Index closed at 15127.80 on 1-8-2014

Range for the week ended 1-8-14 was :-15499.50---15096.

Range for the month ended on 31^st July-14 was :-15626.90—14338.65

SUPPORT: - 15096.10 / 15089.30 / 14933 / 14858.90 / 14857.50 / 14709.30 / 14338.65 / 14063.60 / 13414.30. 

RESISTANCE: -15137.60 / 15267.60 / 15499.70 / 15568.05 / 15592.80 / 15626.90 / 15725.80 / 15742.05/ 15930 / 16308 /.
 (Figures in bold are important)

Index opened firmly for the week under review but could not cross the previous week’s high of 15626.90 and then gradually moved down and gave a sharp down move on 1-8-14 and made a low for the week at 15096.10 before closing the week near the low point at 15127.80.The entire week’s movement shows great weakness in it and it may head for reasonable to big fall in coming days. It is needless to mention here that the index has been grossly under- performing off late in comparison with nifty.

TECHNICAL VIEW

1.ON DAILY CHART:-It has decisively broken the short term DMA range which is between 15482—15181(it changes every day) for 4-8-14, until and unless it moves above the short term DMA and stays further sharp fall can be expected. I suggest to avoid long call  below 15267.60 on 4-8-14.In fact think of  long trade above short term DMA range only.

2.ON WEEKLY CHART:-  It is badly placed on the weekly chart also which is very disturbing. It is below the upper band of the short term DMA range which is between 15144—14202 for the next week, which shows gross weakness in it and indicate further fall if it stays below this. I suggest avoiding long call below 15137.60 & 15096.10 for the week starting from 4-8-14.

The strong negative divergence are visible and if it comes into play then it could take index down to 12842 & 12551  levels but as I always say that divergence should be viewed in sync with the moving average placements and since it has decisively broken the averages on the daily chart and the upper band of the average on the weekly chart too therefore chances of divergence coming into play looks very strong. The divergence could only be negated if it bounces back above the short term DMA range on the daily chart. The divergence suggest caution in the long trade.

3.ON MONTHLY CHART:- The short term DMA upper band exist at 13867. I suggest to avoid long call below 15137.60 & 15267.60  for the month of August-14.

REMARK:- Long term trend is still up, but avoid long calls below 15267.60 and below 15127.80 & 15096.10 for sure till index shows the visible sign of down correction completion. I expect the down correction to last for some time and the possible down side range could be in the region of 13500---14000, therefore  one can try short call on the rise at appropriate levels with an adequate stop loss.

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 the trade

Nifty-Technical View For The Week Starting From 04/08/14

NIFTY CLOSED AT 7602.60 ON 1-8-14

Range for the week ended on 1-8-14:- 7799.90--- 7593.90

Range for the month ended on 31^st July –14:-7840.95—7422.15

 SUPPORT: - 7593 / 7563.50 / 7487.50 / 7481.30 / 7447.20/ 7441.60 / 7422.15 / 7206.70.

 RESISTANCE:-7602 / 7662.50 / 7700.05 / 7721.30 / 7731.05 / 7799/90 /  7808.85 / 7840.95 / 7873 / 8060 / 8125.

  (Figures in bold are important)

Nifty opened flat to positive for the week under review but could not cross the previous week’s high of 7840.95 and then gradually moved down and gave a sharp down move on 1-8-14 and made a low for the week at 7593.90 before closing the week near the low point at 7602.60.The entire week’s movement shows great weakness in it and it may head for reasonable to big fall in coming days.

TECHNICAL VIEW

1.      ON DAILY CHART:-It has decisively broken the short term DMA range which is between 7739—7670 for 4-8-14, so the  only hope exist from where it can bounce is 7554 (it changes every day) level for 4-8-14, if it does not hold this level and stays below this then further sharp fall can be expected, therefore nifty has to stay above the lower band of the short term DMA range at least to give some sign of recovery. I suggest avoiding long call completely below 7670 on 4-8-14.

2.      ON WEEKLY CHART:-  It is badly placed on the weekly chart also which is very disturbing. It is below the upper band of the short term DMA range which is between 7615—7199 which shows gross weakness in it and indicate further fall if it stays below this. I suggest avoiding long call below 7602.60 & 7593.90 for the week starting from 4-8-14.

The strong negative divergence are visible and if it comes into play then it could take nifty down to 7229 & 6694.80 levels but as I always say that divergence should be viewed in sync with the moving average placements and since it has decisively broken the averages on the daily chart and the upper band of the average on the weekly chart too therefore chances of divergence coming into play looks very strong. The divergence could only be negated if it bounces back above the short term DMA range on the daily chart. The divergence suggest caution in the long trade.

3.      ON MONTHLY CHART:- The short term DMA upper band exist at 7143. I suggest to avoid long call below 7662.50 & 7721.30  for the month of August-14.

REMARK:- Long term trend is still up, but avoid long calls below 7662.50 and below 7593.90 & 7554 for sure till nifty shows the visible sign of down correction completion. I expect the down correction to last for some time and the possible downside range could be between 7100-7200, therefore  one can try short call on the rise at appropriate levels with an adequate stop loss.

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 the trade

Nifty-Technical View For-1-8-14

NIFTY CLOSED AT 7721.30 ON 31-07-14

 SUPPORT: -  7720 /  7700.05 / 7680 / 7631 / 7629 / 7611.35 / 7593 / 7582 / 7563.50 / 7526 7487.50 / 7481.30 / 7447.20/ 7441.60 / 7422.15

 RESISTANCE:  7731 / 7790.45 /  7792.90 / 7808.85 / 7840.95 / 7873 / 8060 / 8125.

  (Figures in bold are important)

 Nifty opened negative today and could not cross the previous day’s high of 7798.70 and made high for the day at 7791.85 and then moved down gradually to make a low of 7711.15 before closing the day near the low point at 7721.30. It is not showing strength furthermore it has closed below the upper band of the short term DMA range again today , therefore it seems that  it wants to correct before resuming the up- trend again. I still suggest to avoid fresh long call below 7792.90 for the week, below 7721.30 for the month of August-14.Since it has moved below the short term DMA today, therefore long call should be completely avoided below the  short term DMA range which would be between 7762—7676(these figures will change every day) for 1-8-14,therefore get alerted and avoid fresh long call below 7762 for sure and get out of the long trade if it closes below 7676 (this figure will change every day)on 1-8-14. 

REMARK:- Long term trend is up but avoid long call below 7792.90 for the week and off course below the short term moving average also which is at 7762 for 1-8-14 for sure .

 Kindly note that make your cost your stop loss in favorable trade and then trail it as the price moves 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 the trade

CNX-Bank Index-Technical View For -31-7-14

CNX-Bank Index closed at 15452.40 on 30-7-2014

SUPPORT: -15399.50 / 15322.25 / 15288.80 / 15241.90 / 15162.05 / 15134 / 15089.30 / 14965 / 14858.90 / 14857.50 / 14770 / 14709.30 / 14660/ 14338.65 /  14063.60 /

RESISTANCE: - 15568.05 / 15592.80 / 15626.90 / 15725.80 / 15742.05.

(Figures in bold are important)

Index opened down and made a low of 15184 for the day  but moved up sharply during  later part of the 2^nd half of the day and made a high of 15470.60 before closing  the day near the high at 15452.40.It has moved above its short term DMA range today .The range of short term DMA is between 15385---15208 (these figures will change every day) for 31-7-14,therefore I suggest to avoid fresh long call below short term DMA upper band of 15385 and below lower band of 15208 for sure. The alert to avoid the long call would be below 15385 and stop loss for the long trade would be close below 15208 for 31-7-14.

 REMARKS:-Long term trend is still intact, avoid long calls below 15385.I expect huge volatility in the index today because of derivative expiry,therefore I suggest to avoid  trade today .

 Kindly note that make your cost your stop loss in favorable trade and then trail it as the price moves 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 the trade