$ GOLD-(Seems To Be Poised For A Decent Up Move)---16-1-2015

     

GOLD IN $ TERMS

Gold closed at $1234.50 on 14-1-2015

SUPPORT:- 1204.20 / 1202.30 / 1186.40 / 1183.30 / 1181.40 / 1179.40 /1167 /  1160 /  1141.70 / 1130.40.

RESISTANCE:- 1238.90 / 1255.60 / 1297.60 / 1324.30 / 1325.90 / 1331.40 / 1346.80 / 1392.60.

Gold is showing marked improvement on technical chart (see my post dt-14-12-2014 wherein I stated that it is consolidating for an up move). It has moved well above its short term moving averages and now oscillating within major long term moving average range which is between $1270—1224(it changes every day), if it crosses the $ 1270 mark and stays then it could give further smooth and uninterrupted up move, similarly if it breaks the lower band of the range then it may start down move again but as of now it seems that it is heading for a decent up move in coming months.

The overall technical parameter suggest to adopt buy on dip strategy in gold now but get alerted and avoid fresh long position below the lower band of the long term moving average range i.e $1224 for now and the authentic stop loss for long trade would be below $1200 now(it will change every day with price movement).

Please note that the bench mark level for it is $ 1184 for the whole year of 2015, therefore,It is needless to mention here that below this level long call should be completely avoided.

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.

REMARKS:-Long term trend is still down but technical chart has shown marked improvement therefore I would advice to go long on dips with suggested stop loss mentioned 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.

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

Trading Calls For-16-1-2015

Nifty-Technical View---16-1-2015

NIFTY CLOSED AT 8494.15ON 15-1-2015

SUPPORT: - 8470 / 8445.70 / 8364.75 / 8326 /8282.70 / 8272.80 / 8180 / 8160 / 8147.95 / 8118 / 8075 / 8049 / 7961.35 / 7840 / 7808 / 7723.85 7664 & 7540.

 RESISTANCE: - 8535.35 / 8626.95 / 8680.53 / 9038.29.

(Figures in bold are important)

Nifty opened with a huge up gap of more than 98 points at 8424.50 and made a low of 8380.55 and thereafter steadily moved up and made a high of 8487.10 before closing the day at 8494.15. Since today’s move in the nifty was news led (Repo rate cut by RBI) therefore it has to be seen how it settles down in next 2-3 days before initiating any fresh trade, but the fact remains that It has closed way above its critical point of 8291 today and crossed the important points of 8375 & 8470 also, which shows firmness and indicative of smooth and uninterrupted up move ahead and also suggest that now it is a buy on dip market with a stop loss of close below 8270. But I would still suggest to wait and watch to see how today’s news led euphoric moves pans out in next 2-3- days, before initiating any fresh long call. However aggressive trader can go ahead with long call on dip with suggested stop loss.

It is important to mention here that the gap it left today still exist and if it makes an attempt to fill the gap in next 3-4 days then it can come down to 8326 level.

Going up it will face resistance at 8536 / 8627 / 8681 & 9039  and very stiff resistance in the range of 8588—8681 and moving down it will have support at 8364.75 / 8326 / 8282 & 8270. 

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 nifty has decisively closed above the critical point of 8291 and important points of 8375 & 8470, therefore it suggest to go long on every dip with a stop loss of close below 8270. But I would suggest that since it was a news led move therefore give it at least 2-3 days breather before initiating any trade.

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--16-1-2015

CNX-Bank Index closed at 19235.65 on 15-1-2015

SUPPORT: - 19166 / 18923.60 / 18875.45 / 18736.66 / 18728.20 / 18428 / 18211.50 / 18183 / 17968 / 17890 / 17546 / 17502.

RESISTANCE: -19410.40 / 19756 / 20710.

(Figures in bold are important)

Index opened with a whopping up gap of more than 570 points at 19340.45 and made a low of 19061.35 and then made a new all time high of 19410.40 before closing the day at 19235.65.It was a huge up move in index off course, but was news led (Repo rate cut by RBI)  therefore it has to be seen  how it settles down in next 2-3 days before initiating any fresh trade, but the fact remains that It has closed way above the critical point of 18740 and very near the all time high , which shows tremendous strength and indicative of further smooth up move ahead and also suggest that now it is a buy on dip market with a stop loss of close below 18720. But I would still suggest to wait and watch to see how today’s  news led euphoric moves pans out in next 2-3 days, before initiating any fresh long call. However aggressive trader can go ahead with long call on dip with suggested stop loss.

It is important to mention here that the gap it left today still exist and if it makes an attempt to fill the gap in next 3-4 days then it can come down to 18769 level.

Going up it will resistance at 19410.40 & 19756 and moving down it will have support at 19166 / 18923 & 18728.

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 intact. Since index has decisively closed above the critical point of 18740,so it suggest to go long on every dip with a stop loss of close below 18700.But I Would suggest that since it was a news led move therefore give it at least 2-3 days breather before initiating any trade.

 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---16-1-2015

BSE-Sensex  closed at 28075.55on 15-1-2015

SUPPORT: - 28064.49 / 27851 / 27703.70 / 27512.80 / 27500 / 27485 / 27354.99 27247 / 27091.38 / 26845 / 26776 / 26469.42 / 26220 / 25910.77 / 25460 / 25232.

RESISTANCE: -  28267 / 28352 / 28541.96 / 28822.37.

 (Figures in bold are important)

Sensex opened with a huge up gap of more than 318 points at 27831.16 and made a low of 27703.70 and thereafter steadily moved up and made a high of 28194.61 before closing the day at 28075.55. Since today’s move in the sensex was news led (Repo rate cut by RBI) therefore it has to be seen how it settles down in next 2-3 days before initiating fresh  trade. The fact remains that It has closed way above its critical point of 27500 today but yet to cross the important points of 28267 & 28352 , however it is still showing firmness and indicative of smooth up move ahead and also suggest that now it is a buy on dip market with a stop loss of close below 27470. But I would still suggest to wait and watch to see how today’s news led euphoric moves pans out in next 2-3 days before initiating any fresh long call.However aggressive trader can go ahead with long call on dip with suggested stop loss.

 It is important to mention here that the gap it left today still exist and if it makes an attempt to fill the gap in next 3-4 days then it can come down to 27512 level.

Going up it will face resistance at 28267 / 28352 & 28542 level  and very stiff resistance in the range of 28620--28909 and moving down it will have support at 27851 / 27703 & 27485.

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 sensex has decisively closed above the critical point of 27500, so it suggest to go long on every dip with a stop loss of close below 27470.But I Would suggest that since it was a news led move therefore give it at least 2-3 days breather before initiating any trade.

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--15-1-2015

Nifty-Technical View---15-1-2015

NIFTY CLOSED AT 8277.55ON 14-1-2015

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

 RESISTANCE :- 8282.70 / 8290 / 8327 / 8365---8375 / 8445.60 / 8470 / 8535.35 / 8626.95 ..

(Figures in bold are important)

Nifty opened on a positive note at 8307.25 and made a high of 8326.45 and thereafter made a low of 8236.65 before closing the day at 8277.55. It closed below its critical point of 8291 today after staying above it for two days. Please note that even if it closes above it again and maintains but for smooth and uninterrupted up move it has to cross two important points of 8375 & 8470 also and crossing these point does not seem easy at this point of time. I would therefore suggest to avoid fresh long trade till it closes above 8291 again and maintain above it for at least 3-4 days, but for those who are still holding long trade should get alerted if it starts trading below 8270 and exit  trade below 8235. Short call can also be tried if it consistently trade below 8270 with a stop loss of above 8330 for a target of 8211 / 8176 & 8147.

Going up it will face resistance at 8282.70 /8291 / 8365-75 / 8445.60 & 8470 and moving  down it will have support at 8272.80 / 8180 / 8147 & 8049. 

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 suggest to  avoid fresh long call till it closes above 8291 again and maintain for at least 3-4 days.

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---15-1-2015

CNX-Bank Index closed at 18603.80 on 14-1-2015

SUPPORT: -  18428 / 18211.50 / 18183 / 17968 / 17890 / 17546 / 17502.

RESISTANCE: - 18638 / 18728.20 / 18736.66 / 18875.45 / 18941 / 19166 / 19385.

(Figures in bold are important)

Index opened on a negative note at 18670.40 and made a high of 18769.65 and a low of 18517.90 before closing the day at 18603.80.It again get past the critical point of 18740 today but could not close above it which shows growing weakness in it and if it does not close above 18740 level in next 2-3 days and stays then it may start moving down for a reasonable to significant correction. I would therefore suggest to avoid fresh long call completely till it closes above 18740 and sustain it for at least 3-4 days, however those who are still holding long trade should exit trade below 18550.In fact short call can be tried if it consistently maintain below 18630 or below 18720 with a stop loss of above 18670 and 18780 respectively for a target of 18428 & 18211.

Going up it will resistance at 18640 / 18740 / 18876 / 18941 / & 19166 and moving down it will have support at 18428 & 18211.50.

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 intact. Since it is still below its critical point of 18740, therefore long call is completely ruled out till it closes above it again and stays there for at least 3-4 days.

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-Twchnical View---15-1-2015

BSE-Sensex  closed at 27346.82on 14-1-2015

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

RESISTANCE: - 27354.99 / 27486 / 27500 / 27761 / 27851.10 / 27924 / 28064.49 / 28267 /28541.96 / 28822.37.

 (Figures in bold are important)

Sensex opened on a flat to positive note at 27432.14 and made a high of 27512.80 and thereafter made a low of 27203.25 before closing the day at 27346.82. It again get past the critical point of 27500 today but could not close above it which shows growing weakness in it and if it does not close above the 27500 point in next 2-3 days and stays then it may start moving down for a reasonable to significant correction. I would therefore suggest to avoid fresh long call completely till it closes above 27500 and sustain it for at least 3-4 days. However those who are still holding long trade should exit trade tomorrow. In fact aggressive trader can try short call on the rise but below 27458 with a stop loss of above 27500 for a target of 27091.

Going up it will face resistance at 27460 / 27500 / 27761 / 27851.10 & 27824 and moving down it will have support at 27247 / 27091 & 26776.12..

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 is still below its critical point of 27500, therefore long call is completely ruled out till it closes above it again and stays there for at least 3-4 days.

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---14-1-2015

NIFTY CLOSED AT 8299.40 ON 13-1-2015

SUPPORT: -8290 / 8282.70 / 8272.80 / 8180 / 8160 / 8147.95 / 8118 / 8075 / 8049 / 7961.35 / 7840 / 7808 / 7723.85 7664 & 7540.

 RESISTANCE:-  8365---8375 / 8445.60 / 8470 / 8535.35 / 8626.95 ..

(Figures in bold are important)

Nifty opened with gap up at 8346.15 and made a high of 8356.65 and thereafter was moving in a range before plunging down in the last hour of trade and made a low of 8267.90 and closed the day at 8299.40. It did break the critical point of 8291 during the day but managed to close just above it. Since nifty is giving whip saw movement around this level therefore it has to be seen that whether it will hold this level for next 2-3 days on closing basis or not, before initiating fresh long call.

I would like to mention here that the two most important indices namely CNX Bank Index & BSE-Sensex have closed below their critical point today ,so they  are not moving in sync with nifty which is concerning and indicative of that  nifty may follow them later. I would therefore suggest to avoid fresh long trade now till it maintains above 8291 for another 2-3 days or the above stated indices start moving in sync with nifty but for those who are still holding long call should get alerted and avoid fresh long call if it consistently starts trading below 8270 and exit long trade if it closes below 8225.

 Going up it will face resistance at 8365-75 / 8445.60 & 8470 and moving down it will have support at 8290 / 8282.70 / 8272.80 / 8180 / 8147 & 8049. 

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 suggest to avoid fresh long call till it maintains above the level of 8291 for next 2-3 days.

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--14-1-2015

CNX-Bank Index closed at 18707.20 on 13-1-2015

SUPPORT: - 18630 / 18428 / 18211.50 / 18183 / 17968 / 17890 / 17546 / 17502.

RESISTANCE: - 18728.20 / 18736.66 / 18875.45 / 18941 / 19166 / 19385.

(Figures in bold are important)

Index opened with a gap up at 18889 and made a high of 18920.65 and thereafter was moving in a range throughout the day before plunging down in the last hour of trade and made a low of 18642.80 and closed the day at 18707.20. It could not sustain the critical point of 18740 and closed below it, today’s move was disturbing and indicative of some weakness. I would therefore suggest to avoid fresh long call completely till it closes above 18740 and sustain it for at least 2-3 days, however those who are still holding long trade should not add fresh long trade in any case and get alerted in long trade if it consistently starts trading below 18630 and exit long trade if it  gives sign of closing  below 18540.

Going up it will resistance at 18740 / 18876 / 18941 / & 19166 and moving down it will have support at 18428 & 18211.50.

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 intact. Since it has closed below the critical point of 18740, therefore long call is completely ruled out till it closes above it again and stays their  for at least 2-3 days.

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--14-1-2015

BSE-Sensex  closed at 27425.73on 13-1-2015

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

RESISTANCE: - 27486 / 27500 / 27761 / 27851.10 / 27924 / 28064.49 / 28267 /28541.96 / 28822.37.

 (Figures in bold are important)

Sensex opened on a positive at 27611.56 and made a high of 27670.19 and thereafter was moving in a range throughout the day before plunging down in the last hour of trade and made a low of 27324.58 and closed the day at 27425.73. It could not sustain the critical point of 27500 and closed below it, today’s move was disturbing and indicative of further down move. I would therefore suggest to avoid fresh long call completely till it closes above 27500 and sustain it for at least 2-3 days, however those who are still holding long trade should not add fresh long trade in any case and exit long trade if it  gives sign of closing  below 27330.

Going up it will face resistance at 27500 / 27761 / 27851.10 & 27824 and moving down it will have support at 27247 / 27091 & 26776.12..

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 below the critical point of 27500, therefore long call is completely ruled out till it closes above it again and stays their  for at least 2-3 days.

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-13-1-2015

Nifty-Technical View For-13-1-2015

NIFTY CLOSED AT 8323 ON 12-1-2015

SUPPORT: -8290 / 8282.70 / 8272.80 / 8180 / 8160 / 8147.95 / 8118 / 8075 / 8049 / 7961.35 / 7840 / 7808 / 7723.85 7664 & 7540.

 RESISTANCE: - 8365---8375 / 8445.60 / 8470 / 8535.35 / 8626.95..

(Figures in bold are important)

Nifty opened on a positive note at 8291.35 and made a high of 8332.60 and made a low of 8245.60 before closing the day at 8323. It was a day of huge fluctuation but at the end of the day the nifty closed above its critical level of 8291, now it has to be seen whether it will sustain this level or not, however since it has closed above 8291 therefore existing long call can be held on to and fresh long call can also be added above 8291 but get alerted and avoid adding fresh long call if it consistently starts trading below 8270 and exit long trade if it closes below 8220. Please note that fresh long call one would take on 13-1-15 should be exited if it gives sign of closing below 8265.

 Going up it will face resistance at 8365-75 / 8445.60 & 8470 and moving down it will have support at 8290 / 8282.70 / 8272.80 / 8180 / 8147 & 8049. 

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 8291 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

CNX-Bank Index-Technical View For-13-1-2015

CNX-Bank Index closed at 18795.85 on 12-1-2015

SUPPORT: - 18736.65 / 18728.20 / 18630 / 18428 / 18211.50 / 18183 / 17968 / 17890 / 17546 / 17502

RESISTANCE: - 18875.45 / 18941 / 19166 / 19385.

(Figures in bold are important)

Index opened on a positive note at 18632 and made a high of 18822.05 and made a low of 18530.10 before closing the day at 18795.85. It was a day of wild swings but at the end of the day Index closed above its critical level of 18740, now it has to be seen whether it will sustain this level or not, however since it has closed above 18740 therefore existing long call can be held on to and fresh long call can also be added above 18740 but get alerted and avoid adding fresh long position if it consistently starts trading below 18720 and exit long trade if it closes below 18500. Please note that fresh long call one would take on 13-1-15 should be exited if it gives sign of closing below 18620.

Going up it will resistance at 18876 / 18941 / & 19166 and moving down it will have support at 18728 / 18428 & 18211.50.

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 intact. Since it has closed above the critical point of 18740 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.