BSE-Sensex-Technical View For-13-1-2015

BSE-Sensex  closed at 27585.27on 12-1-2015

SUPPORT: - 27485 / 27354.99 / 27247 / 27091.38 / 26845 / 26776 / 26469.42 / 26220 / 25910.77 / 25460 / 25232.

RESISTANCE: - 27761 / 27851.10 / 27924 / 28064.49 / 28267 /28541.96 / 28822.37.

 (Figures in bold are important)

Sensex opened on a positive note at 27523.86 and made a high of 27620.66 and made a low of 27323.74 before closing the day at 27585.27. It was a day of wild fluctuation but at the end the sensex closed above its critical level of 27500, now it has to be seen whether it will sustain this level or not, however since it has closed above 27500 mark therefore existing long call can be held on to and fresh long call can also be added above 27500 but get alerted and avoid adding fresh long position if it consistently starts trading below 27458 and exit long trade if it closes below 27330. Please note that fresh long call one would  take on 13-1-15 should be exited  if it gives sign of closing below 27458.

Going up it will face resistance at 27761 / 27851.10 & 27924 and moving down it will have support at 27480  / 27247 & 27091.38 / 26469.

Kindly note that profit should also be booked in trade from time to time at the appropriate points so that you can take advantage of the market swings.

REMARK:-  :- Long term up trend is still intact. Since it has closed above the critical point of 27500 therefore existing long trade can be carried on and fresh long position can also be added with proper alert and stop losses as mentioned above.

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.

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.

Contact me for strategic guidance to enter and exit the trade.

DOW JONES INDUSTRIAL AVG INDEX-Technical Observation---11-1-2015

DOW JONES INDUSTRIAL AVG INDEX CLOSED AT 17737.37 ON 9-1-2015

SUPPORT:- 17726.55 / 17666—17589---17512—17416 / 17350.64 / 17262.37 / 17151.56 / 17067.59 / 16674 / 16540.

RESISTANCE: - 17824 / 17916.04 / 17991.19 / 18103.45 / 18640.

(Figures in bold are important)

Dow has been highly volatile in last couple of months, to be precise from Sept-2014 and giving wild swings quite often but now showing some sign of exhaustion at the upper level although the up -trend is still intact. It made a rounding top at 18103.45 on 26-12-2014 and then made a bottom at 17262.37 on 6-1-2015 and thereafter moved up again and supposedly made a top at 17916.04 on 8-1-2015, if this top is held then it will be a lower top after a long gap of time which will be a potential indication of it going into reasonable to significant correction in coming days. Please note that DOW will gain real strength and resume uninterrupted and smooth up run only if it moves above 17824 and sustain it for some time and then crosses 17916.04 level.

It is important to mention here that the long term moving averages for it at present is in the range of 17270—16903(it changes every day), violation of the upper band of the range will be the first sign of threat to the up- trend and break below the lower band will spell real danger to the long term up-trend,therefore if the up- trend has to stay then it cannot remain below even the upper band of the moving averages range for a longer period. So be watchful if  it falls within this  range.

   

REMARKS:-Long term up - trend is still intact. But it is showing sign of exhaustion at upper level and will ensure smooth up run only if it moves above 17824 and stays for some time and then crosses 17916.04 mark.The long term up trend would be threatened below 17270.

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.

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.

Contact me for strategic guidance to enter and exit the trade.

BSE-Sensex-Technical View For-12-1-2015

BSE-Sensex  closed at 27458.38on 9-1-2015

SUPPORT: - 27355 / 27335 / 27256 / 27091 / 26776 / 26469.42 / 26220 / 25910.77 / 25460 / 25232.

RESISTANCE: - 27355 / 27485 / 27500 / 27851.10 /28064.49.

 (Figures in bold are important)

Sensex   opened with a up gap at 27404.19 and made a high of 27507.67 and a low of 27119.63 before closing the day at 27458.38.It was a day of great upheaval for it  and in the process it did get past the critical level of 27500 by a whisker but could not close above it, so overall it seems that the on- going pull back rally is either completed or near completion, however optimistically at the most it can extend up to 27761. Kindly note that sensex will gain real strength and resume smooth up run again only if it moves above 27500 and sustain it for some time. I would therefore take a long call only if it closes above 27500 and stays for at least 2-3 days with a stop loss of close below 27450.

However aggressive and day trader can try both short and long call at proper levels, one can take long call now for a target of 27575 / 27650 & 27760 but get alerted if it starts trading below 27365 and exit trade below 27310, short call can be tried below 27350 with a stop loss of above 27455 for a target of 27250 & 27091. I once again reiterate that it will regain steady up momentum only if it could sustain above 27500 mark.

Going up it will face resistance at 27500 / 27575 & 27760 and  moving down it will have support at 27256 / 27091 & 26776.

Kindly note that profit should also be booked in trade from time to time at the appropriate  points so that you can take advantage of the market swings.

REMARK:-  :- Long term up trend is still intact. I would strictly advice to take long call only if it closes above 27500 and stays, but aggressive and day trader can try both long and short call using the above mentioned levels and stop losses.

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.

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.

Contact me for strategic guidance to enter and exit the trade.

Nifty-Technical View For-12-1-2015

NIFTY CLOSED AT 8284.50 ON 9-1-2015

SUPPORT: -8282.70 / 8272.80 / 8256 / 8180 / 8160 / 8147.95 / 8118 / 8075 / 8049 / 7961.35 / 7840 / 7808 / 7723.85 7664 & 7540.

 RESISTANCE:- 8291 /  8364.75 / 8373 / 8445.60 / 8470 / 8535.35 / 8626.95 ..

(Figures in bold are important)

Nifty opened with a gap up at 8285.45 and made a high of 8303.30 and a low of 8190.80 before closing the day at 8284.50.It had a wild swing today, overall it seems that the pull back rally is either completed or is on the verge of exhaustion so optimistically at the most it can extend up to 8365-8375 level. Kindly note that nifty will gain real strength and resume smooth up run again only if it moves above 8291 and sustain it for some time, it did get past beyond 8291 today but could not close above it. I would therefore take a long call only if it closes above 8291 and stays for 2-3 days.

However aggressive and day trader can try both short and long call at proper levels, one can take long call now for a target of 8330 but get alerted if it starts trading below 8255 and exit trade below 8220,short call can be tried  below 8250 with a stop loss of above 8291 for a target of 8180 & 8150. I once again reiterate that it will regain steady up momentum only if it could sustain above 8291 mark.

Going up it will face resistance at 8328 & 8365-75 and moving down it will have support at 8272  / 8220 / 8180 / 8160 & 8147. 

Kindly note that profit should also be booked in trade from time to time at the appropriate points so that you can take advantage of the market swings.

REMARK:-  :- Long term up trend is still intact. I would strictly advice to take long call only if it closes above 8291 and stays, but aggressive and day trader can try both long and short call using the above mentioned levels and stop losses.

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.

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.

Contact me for strategic guidance to enter and exit the trade.

CNX-Bank Index-Technical View For-12-1-2015

CNX-Bank Index closed at 18637.25 on 9-1-2015

SUPPORT: - 18537 / 18428.10 / 18365 / 18211.50 / 18137 / 18051 / 17968 / 17890 / 17546 / 17502

RESISTANCE: - 18676.10 / 18728.20 / 18736.75 / 18875.45 / 18923.60 / 19166.

(Figures in bold are important)

Index opened with a gap up at 18845.90 and made a high of 18864 and a low of 18479.65 before closing the day at 18637.25.It had a volatile session today and it did get past the critical level of 18740 during the day but could not close above it,so  overall it seems that the pull back rally is either completed or near completion ,so optimistically at the most it can extend up to 18930 level . Kindly  note that index will gain good strength and resume smooth up run again only if it moves above 18740 and sustain it for some time and then crosses the 18930 mark. I would therefore take a long call only if it closes above 18740 and stays for 2-3 days.

However aggressive and day trader can try both long and short call at given levels,one can take a long call now for a target of 18740 & 18850 but get alerted if it starts trading below 18600 and exit trade below 18480,short call can also be tried  below 18600 with a stop loss of above 18650 for a target of 18460 & 18350. I once again reiterate that it will regain steady up momentum only if it could sustain above 18740 mark.

Going up it will resistance at 18740 & 18924 and moving down it will have support at 18428  & 18211.

Kindly note that profit should also be booked in trade from time to time at the appropriate points so that you can take advantage of the market swings.

REMARK:-  :- Long term up trend is still intact. I would strictly advice to take long call only if it closes above 18740 and stays, but aggressive and day trader can try both long and short call using the above mentioned levels and stop losses.

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.

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.

Contact me for strategic guidance to enter and exit the trade.

Trading Calls For--12-1-2015

Nifty-Technical View For-9-1-2015

NIFTY CLOSED AT 8234.60 ON 8-1-2015

SUPPORT: -8180 / 8160 / 8147.95 / 8118 /  8075 / 8049 / 7961.35 / 7840 / 7808 / 7723.85 7664 & 7540.

 RESISTANCE:- 8256 / 8272.80 / 8282.70 / 8291 /  8364.75 / 8445.60 / 8470 / 8535.35 / 8626.95 ..

(Figures in bold are important)

Nifty opened with a gap up at 8191.40 and made a high of 8243.50 and a low of 8167.30 before closing the day at 8234.60. It gave a robust up move today but it seems that it is a pull- back rally as of now and it may exhaust around 8256 & 8301 level or may extend up-to 8365 level but not likely to sustain these levels .Kindly note that nifty will gain real strength and resume smooth up run again only if it moves above 8291 and  sustain it for some time. I would therefore advice to take long call only if it moves above 8291 and stays.Going up it will face resistance at 8283 / 8328 & 8365 and moving down it will have support at 8180 / 8160 & 8147. 

The aggressive and day trader can try both long and short call on 9-1-2015 according to the price movement in the market.

1. Short call can be tried below 8270 with a stop loss of above 8291 for a target of 8200 & 8180 .

2. Long call can be tried above 8291 with a stop loss of below 8260 for a target of 8330 & 8365.

Kindly note that profit should also be booked in trade from time to time at the appropriate points so that you can take advantage of the market swings.

REMARK:-  :- Long term up trend is still intact. It gave a decent up rally today, so trader can try both short and long call on 9-1-2015 at proper points as mentioned above but positional long call should only be taken if it moves above 8291 and sustain for some time.

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.

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.

Contact me for strategic guidance to enter and exit the trade.

CNX-Bank Index-Technical View For-9-1-2015

CNX-Bank Index closed at 18701.40 on 8-1-2015

SUPPORT: - 18676 / 18428.10 / 18211.50 / 18137 / 18051 / 17968 / 17890 / 17546 / 17502.

RESISTANCE: -  18728.20 / 18736.75 / 18875.45 / 18923.60 / 19166.

(Figures in bold are important)

Index opened with a gap up at 18587.10 and made a high of 18752.30 and a low of 18486.20 before closing the day at 18701.40.It made a robust recovery of 397.15 points today after two day’s fall but it still has two hurdle to cross before it resumes smooth up move again and that is 18740 & 18923.60 level. I would therefore suggest to take positional long call only if it moves above 18740 and sustain and can add further long position above 18923.60 for good gains. The aggressive and day trader can try long call now also on 9-1-2015 with a stop loss of below 18500. Going up it will resistance at 18740 & 18924 and moving down it will have support at 18428 & 18211.

Kindly note that profit should also be booked in trade from time to time at the appropriate points so that you can take advantage of the market swings.

REMARK:-  :- Long term up trend is still intact. Aggressive trader can try long call now with a stop loss of below 18500 but I would prefer to try long call only if it moves above 18740 and sustain.

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.

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.

Contact me for strategic guidance to enter and exit the trade.

BSE-Sensex-Technical View For-9-1-2015

BSE-Sensex  closed at 27274.71on 8-1-2015

SUPPORT: -27256 / 27091 / 26776 / 26469.42 / 26220 / 25910.77 / 25460 / 25232.

RESISTANCE: - 27355 / 27485 / 27500 / 27851.10 /28064.49.

 (Figures in bold are important)

Sensex  opened with a up gap at 27178.77 and made a high of 27316.41 and a low of 27101.94 before closing the day at 27274.71.It gave a huge up move of more than 360 points today after two day’s fall, as of now it seem that it is pull back rally and may exhaust around 27450 & 27575 level or may extend up-to 27761 level but not likely to sustain these level .Kindly note that sensex will gain real strength and resume smooth up run again only if it moves above 27500 and  sustain it for some time. I would therefore advice to take long call only if it moves above 27500 and stays, therefore short call can still be tried below 27500 with a stop loss of above 27575.

Going up it will face resistance at 27450 / 27500 / 27575 & 27760 and  moving down it will have support at 27091 & 26776.

Kindly note that profit should also be booked in trade from time to time at the appropriate points so that you can take advantage of the market swings.

REMARK:-  :- Long term up trend is still intact. But long call should be taken only if it moves above 27500 and stays with a stop loss of below 27450 and short call can be tried below 27500 with a stop loss of above 27575.

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.

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.

Contact me for strategic guidance to enter and exit the trade.

Trading Calls For-8-1-2015

Nifty-Technical View For-8-1-2015

NIFTY CLOSED AT 8102.10 ON 7-1-2015

SUPPORT: - 8075 / 8049 / 7961.35 / 7840 / 7808 / 7723.85 7664 & 7540.

 RESISTANCE:- 8118 / 8147.95 / 8160 / 8180 / 8272.80 / 8282.70 / 8364.75 / 8445.60 / 8470 / 8535.35 / 8626.95 ..

(Figures in bold are important)

Nifty opened on a negative note at 8118.65 and made a high for the day at 8151.20 and low of 8065.45 before closing the day at 8102.10. It showed no sign of recovery today and closed the day 25.25 points lower which speaks of how weak it is. Technical parameter indicates that down correction may deepen and it may give reasonable to significant fall in coming days, however in between short up rally cannot be ruled out. Please note that if it fails to hold the level of 8049 then it will break the recent bottom of 7961.35 it made on 17-12-2014 chances of which are looking great. I would therefore advice to avoid long call completely till it moves above 8291 and stays or give potential indication of correction completion. As of now it is sell on the rise market, so try short call on the rise with a proper stop loss or below 8065 with a stop loss of above 8095 on 8-1-15 and below 8214.70 with a stop loss of above 8230 for the entire remaining week. Going up it will face resistance at 8160 / 8180 &8220 and moving down it will have support at 8075 / 8049 & 7961. 

It is important to mention here that it is very close to its long term moving averages and the range for it is between 8024—7625(it changes every day),if it breaks even the upper band of the range i.e 8024 that will be the first sign of threat to the long term up trend  and if it moves below 7625 mark and stays then the up trend would be in real danger, So if the up trend has to continue then it cannot remain even below 8024 mark for a longer period therefore one should start building position in a staggered manner as soon as nifty falls within this range with a stop loss below 7450.

Kindly note that profit should also be booked in trade from time to time at the appropriate points so that you can take advantage of the market swings.

REMARK:-  :- Long term up trend is still intact. It is in correction mode now, therefore long call is completely ruled out till it gives visible sign of correction completion. As of now it sell on the rise market, so try short call on the rise and below 8214.70 for the entire remaining week with a proper stop loss as mentioned above. 

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.

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.

Contact me for strategic guidance to enter and exit the trade.

CNX-Bank Index-Technical View For-8-1-2015

CNX-Bank Index closed at 18304.25 on 7-1-2015

SUPPORT: - 18137 / 18051 / 17968 / 17890 / 17546 / 17502.

RESISTANCE: - 18334 / 18428.10 / 18676.10 / 18728.20 / 18736.75 / 18875.45 / 18923.60 / 19166.

(Figures in bold are important)

Index opened on a negative note at 18382.55 and made a high of 18482.05 for the day and a low of 18211.50 before closing the day at 18304.25.After yesterday’s huge fall it showed no sign of recovery today and closed 126.50 points lower which indicate weakness in it and pointing towards further fall in coming days, please note that If it fails to hold 18137 & 17895 level then it may break the recent bottom of 17502.45 it made on 17-12-2014,chances of which are looking reasonably good at this point of time,however in between short up rally could be there. I would therefore advice to avoid long call completely till it moves above 18740 and stays or it gives enough indication of correction completion. As of now it is sell on the rise market, so try short call on the rise at appropriate level with a proper stop loss and existing short position can  be held on to  below 18428.10 with a stop loss of above 18485 for the entire remaining week for a target of 18130 & 17900. Going up it will resistance at 18590 & 18740 and moving down it will have support at 18137 & 17895.

 Kindly note that profit should also be booked in trade from time to time at the appropriate points so that you can take advantage of the market swings.

REMARK:-  :- Long term up trend is still intact. It is in correction mode now, therefore long call is completely ruled out till it gives visible sign of correction completion. As of now it sell on the rise market, so try short call on the rise and hold existing short call below 18428.10 for the entire remaining week with a proper stop loss as mentioned above. 

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.

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.

Contact me for strategic guidance to enter and exit the trade.

BSE-Sensex-Technical View For-8-1-2015

BSE- Sensex  closed at 26908.82 on 7-1-2015

SUPPORT: - 26845 / 26469.42 / 26220 / 25910.77 / 25460 / 25232.

RESISTANCE: - 27092 / 27257 / 27355 / 27485 / 27500 / 27851.10 /28064.49.

 (Figures in bold are important)

Sensex opened on a flat to negative note at 26983.43 and made a high of 27051.60 for the day and then made a low of 26776.12 before closing the day at 26908.82.After a huge fall of yesterday ,It showed no sign of recovery today and closed 78.64 points lower this indicates gross weakness in it and points towards deep correction in the offing in coming days ,however in between short up rally cannot be ruled out but the bias is down as of now. Please note that if it breaks again the 26845 mark and stays then it can break the recent bottom of 26469 it made on 17-12-15, furthermore some other technical parameter pointing towards breaking of 26108 level too if weakness persist, chances of breaking the aforesaid level is looking distinctly possible. I would therefore advice to avoid long call completely till it moves above 27500 and stays or give visible indication of correction completion. As of now it sell on the rise market, so try short call on the rise with a proper stop loss or below 26845 with a stop loss of above 26920 on 8-1-2015 and below 27266.49 with a stop loss of above 27300 for the entire remaining week. Going up it will face resistance at 27270 & 27500  and  moving down it will have support at 26845 & 26469.

It is important to mention here that it is pretty close to it long term moving averages and the range for it is between 26817—25501(it changes every day),if it breaks even the upper band of the range i.e 26804 that will be the first sign of threat to the long term up trend  and if it moves below 25476 mark and stays then the up- trend would be in real danger. It did break the upper band today but bounced back and closed above it. So if the up- trend has to continue then it cannot remain even below the upper band of the averages for a longer period therefore one should start building long position in a staggered manner as soon as sensex falls within this range with a stop loss of below 25200.

Kindly note that profit should also be booked in trade from time to time at the appropriate points so that you can take advantage of the market swings.

REMARK:-  :- Long term up trend is still intact. But it is in correction mode now, therefore long call is completely ruled out till it gives visible sign of correction completion. As of now it sell on the rise market, so try short call on the rise and below 27266.40 for the entire remaining week with a proper stop loss as mentioned above. 

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.

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.

Contact me for strategic guidance to enter and exit the trade.

Trading Calls For-7-1-2015

Nifty-Technical View For-7-1-2015

NIFTY CLOSED AT 8127.35 ON 6-1-2015

SUPPORT: - 8118 / 8049 / 7961.35 / 7840 / 7808 / 7723.85 7664 & 7540.

 RESISTANCE:- 8147.95 / 8160 / 8180 / 8272.80 / 8282.70 / 8364.75 / 8470 / 8535.35 / 8626.95 ..

(Figures in bold are important)

Nifty opened with a gap down at 8325.30 and made a high of 8327.85 and thereafter it relentlessly went down and made a low of 8111.35 before closing the day near the low at 8127.35, down by more than 250 points. Today’s fall was devastating and it has broken the on going momentum for sure, it has also broken its all short term moving averages decisively which is a bad sign, furthermore some technical parameter suggest that it may be heading for much lower level in coming days and will break the recent bottom of 7961.35 for sure , therefore long call should be  completely avoided till it moves above 8291 and stays or give ample indication of correction completion .I would therefore suggest to try short call on the rise with a stop loss of above 8291,one can try short call below 8111.35 also with a stop loss of 8135 for a target of 8049 & 7950 on 7-1-2015 and below 8214.70 with a stop loss of above 8230 for the entire remaining week ending on 9-1-15.

It is important to mention here that it is pretty close to it long term moving averages and the range for it is between 8020—7617(it changes every day),if it breaks even the upper band of the range i.e 8020 that will be the first sign of threat to the long term up trend  and if it moves below 7617 mark and stays then the up trend would be in real danger, So if the up trend has to continue then it cannot remain even below 8020 mark for a longer period therefore one should start building position in a staggered manner as soon as nifty falls within this range with a stop loss below 7400.

REMARK:-  :- Long term up trend is still intact. Today’s move has broken the on going momentum therefore long trade is completely ruled out till bottom formation sign emerges, instead short call should be tried  on the rise  or below 8111 on 7-1-15 and below 8214.70 for the entire remaining week with a proper stop loss as mentioned above. 

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.

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

Contact me for strategic guidance to enter and exit the trade