NIFTY--CNX-BANK INDEX--BSE-SENSEX---Technical View---24-2-2015

NIFTY CLOSED AT 8754.95 ON 23-2-2015

SUPPORT: - 8725 / 8671 / 8626.95 / 8593 / 8535.35 / 8470 / 8445.6 / 8364 / 8282.70 /

8272.80 /  8236 / 8180 / 8160 / 8147.95 / 8065.45 / 7961.35.

 RESISTANCE: - 8793.40 / 8802.50 / 8808.90 / 8833.60 / 8856.85 / 8873 / 8913.45 /

8996.60 / 9040 / 9065 / 9338.

Nifty opened on a firm note at 8856.85 and touched a high of 8869 for the day and then moved in a 8830—8850 range for quite some-time before plunging down and made a low of 8736.10 and closed the day at 8754.95. As expected it  encountered profit booking today ,furthermore. It also broke the lower band of the weekly range today which was at 8790 and this shows weakness. The last short term moving average support is at 8725 and break below this can drag it down to its most critical support level of 8626.95.I would therefore still advice to avoid long call below 8860 instead suggest to try short call on the rise but below 8809 with a stop loss of above 8840 or below 8725 with a stop loss of above 8740 for a target of 8735 and 8670 respectively similarly aggressive intra-day trader can try long call if it stays above 8760 on 24-2-2015 with a stop loss of below 8720 but be cautious in the long trade because short term bias is on downside. 

  

Going up it will face resistance at 8809 & 8860 and moving down it will have support at 8725 / 8670 & 8626.95. 

CNX-Bank Index closed at 18913.40. on 23-2-2015

SUPPORT: -18736.65 / 18728.20 /18428 / 18226 / 18211.50 / 18183 / 17890 / 17502.45.

RESISTANCE: -18923.60 / 19166 / 19200 / 19445 / 19532.90 / 19778.95 / 19844 / 19884 / 19992 / 20275 / 20610 / 20907.55. 

Index is exhibiting tremendous weakness and today it just closed below its critical support level of 18923.60, furthermore it is below its all short term moving averages, therefore long call should be avoided till it moves at least above upper band of its short term moving average range which is between 19030---19405(it changes every day) for 24-2-2015 but beyond this range other parameters resistance for it extends up to 19850 level ,so crossing this resistance range seems to be an uphill task for it right now,therefore long call should be avoided. Please note that long call should be completely avoided below 18923.60 for sure because then the next most critical support for it exist at 18728 and it if breaks this mark and stays then it can go in for much deeper correction. Therefore those who want to try long call can try above 18923.60 or near 18728 with a stop loss of below 18870 & 18690 but be cautious in long trade because the bias is on the downside, I would therefore suggests to try short call on the rise at appropriate level with a proper stop loss or sell below 18875 with a stop loss of above 18925.

In BSE- Sensex  closed at 28975.11 on 23-2-2015

SUPPORT: -28822.37 / 28731 / 28469 / 28406 / 28064.49 / 28044 / 27851 / 27739 / 27499.42 / 27485.77 / 27203.25 / 27091 / 26776.12 / 26469.42.

RESISTANCE: - 29143.63 / 29182.95 / 29231.41 / 29316.58 / 29522.86 / 29844.16

Sensex opened on a firm note at 29316.58 and touched a high of 29362.96 for the day and then went down and made a low of 28913.16 and closed the day at 28975.11. It encountered profit booking today, furthermore. It also broke the lower band of the weekly range today which was at 29083.40 and this shows weakness. The last short term moving average support is at 28885 and break below this can drag it down to its most critical support level of 28822.37 and if it breaks this level and stays then it can trigger much deep correction. I would therefore still advice to avoid long call below 29350 instead suggest to try short call on the rise but below 29084 and then below 29350 with a stop loss of above 29125 & 29380 or below 28975 with a stop loss of above 29020 for a target of 28885 and 28822 respectively similarly aggressive intra-day trader can try long call above 28980 on 24-2-2015 with a stop loss of below 28940 but be cautious in the long trade because short term bias is on downside.   

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. Use support and resistance levels for entry, exit and trailing stop losses.

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---23-2-2015

NIFTY CLOSED AT 8833.60 ON 20-2-2015

SUPPORT: -8808.90 / 8802.50 / 8795 / 8733 / 8671 / 8626.95 / 8593 / 8535.35 / 8470 / 8445.6 / 8364 / 8282.70 / 8272.80 / 8236 / 8180 / 8160 / 8147.95 / 8065.45 / 7961.35.

 RESISTANCE: - 8841 / 8873 / 8913.45 / 8940 / 8996.60 / 9040 / 9065 / 9338.

 (Figures in bold are important)

Nifty had a 120 points range during the week ended on 20-2-2015 but it had volatile and wild swings both ways before it closed the week at 8833.60 near the lower end of the weekly movement range. Technically it is looking ok now till it holds 8710 and finally 8626.95 level, break below this can trigger deep correction. Please note that the range for coming week starting from 23-2-2015 is between 8915---8790 and break on either side will decide the movement of  the week. I would therefore suggest to avoid long call below 8802 and try short call below 8790 or near 8900 with a stop loss of above 8820 & 8920 respectively for a target of 8720 and 8810, similarly long call can be tried above 8820 with a stop loss of below 8790. Looking at the overall picture my bias is on the downside as of now, therefore one should be very cautious in the long trades. Kindly  note that volatility will remain till the Union Budget so aggressive trader can take advantage of both side trade keeping the aforesaid range in mind.

Going up it will face resistance at 8873 / 8915 / 8940 & 8996.60 and moving down it will have support at 8780 / 8710 & 8626.95. 

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. Looking in totality my bias is on the downside as of now, therefore I would suggest to  reduce long exposure to a considerable extent before the union budget to combat the expected extreme volatility on either side after the budget.  

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---23-2-2015

CNX-Bank Index closed at 19073.55 on 20-2-2015

SUPPORT: -18923.60 / 18882 / 18876 / 18875 / 18736.65 / 18728.20 /18428 / 18226 / 18211.50 / 18183 / 17890 / 17502.45.

RESISTANCE: - 19166 / 19225 / 19445 / 19533 / 19568 / 19778.95 / 19844 / 19884 / 19992 / 20275 / 20610 / 20907.55. 

 (Figures in bold are important)

Index moved in a range of 656 points during the week ended on 20-2-2015 but it had wild swings both ways almost every day during the week, furthermore it broke its critical support level of 18923.60 on two successive days but managed to close above it and finally closed the week at 19073.55. It is showing tremendous weakness on the technical chart furthermore moving up it will face stiff resistance in the range of 19121---19455---19850 therefore it is suggested to avoid long call now till it starts exhibiting some strength, please note that it has critical support at 18923.60 and at recent bottom of 18875 so for those who want to try long call the stop loss would be below 18875 but avoid fresh long call below 18923.I would advice to sell on the rise but below 19535 with a stop loss of above 19640 or sell below 19050 with a stop loss of above 19125.The bias is on downside as of now.

    

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 advice not to initiate long trade till it starts showing some strength instead short call can be tried as suggested 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---23-2-2015

.BSE- Sensex closed at 29231.41 on 20-2-2015

SUPPORT: - 29182.95 / 19143.63 / 19083.40 / 28822.37 / 28731 / 28469 / 28406 / 28064.49 / 28044 / 27851 / 27739 / 27499.42 / 27485.77 / 27203.25 / 27091 / 26776.12 / 26469.42.

RESISTANCE: - 29278 / 29522.86 / 29844.15 / 30345.

 (Figures in bold are important)

Sensex moved in a 439 point range during the week ended on 20-2-2015, it witnessed huge volatility and finally closed the week at 29231.41. Technically it is looking ok now and the range for the coming week starting from 23-2-2015 is between 29050--- 29550 and break on either side will decide direction of the coming week. It is suggested to try long call only if it moves above 29350 on 23-2-2015 and maintains otherwise not, instead Short call can be tried below 29140 with a stop loss of above 29190.,I would advice not to initiate fresh long trade till Union Budget ,in fact reduce your long trade exposure to a reasonable extent  so that you combat the expected volatility of either side after the budget in a better way. However  the present volatility provides both long and short call opportunity so aggressive intra-day trader can try both calls depending on the price movement.

 Going up it will face resistance at 29350 & 29550 level and moving down it will have support at 29050 / 28822.37 & 28731.

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 suggested to avoid fresh long trade till budget but aggressive trader can try both long and short call as suggested 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---23-2-2015

NIFTY---CNX BANK INDEX----BSE SENSEX---Technical View For---19-2-2015

NIFTY CLOSED AT 8869.10 ON 18-2-2015

SUPPORT: - 8841 / 8822.10 / 8808.90 / 8802.50 / 8795 / 8733 / 8671 / 8626.95 / 8593 / 8535.35 / 8470 / 8445.6 / 8364 / 8282.70 / 8272.80 / 8236 / 8180 / 8160 / 8147.95 / 8065.45 / 7961.35.

 RESISTANCE: - 8873 / 8996.60 / 9040 / 9065 / 9338.

Nifty crossed 76.40% retracement level point intra-day today which was at 8872.44 but closed the day a shade lower then that at 8869.10. Technically it is showing good strength but it seem that here it is looking bit heavy and today was the 6^th straight day of rise also so it may encounter a small correction here before it moves up again or it may continue the up run for few days more before correction happens, I would therefore suggest to take a cautious approach and try fresh long call on 19-2-2015 only if it maintains above today’s high of 8894.30,therefore I would still suggest to book profit below 8894.30 mark on existing long trade and reduce your long trade exposure to a reasonable  extent before the Union Budget so that you can handle the expected volatility after the budget in a better way. The range for it is now between 8900—8800, so long trade can be tried above 8894.30 on 19-2-2015 with a stop loss of below 8850 or near 8810 with a stop loss of below 8780 similarly if it fails to cross 8894.30 mark and  consistently trades below it then aggressive intra-day trader can try short call also with a stop loss of above 8915. Please note that long call should be avoided below 8800 for sure.

CNX-Bank Index closed at 19296.50. on 18-2-2015

SUPPORT: - 19166 /18923.60 / 18736.65 / 18728.20 /18428 / 18226 / 18211.50 / 18183 / 17890 / 17502.45.

RESISTANCE: - 19445 / 19568 / 19778.95 / 19844 / 19884 / 19992 / 20275 / 20610 / 20907.55. 

Index is not exhibiting the strength in fact it is looking weak on the technical chart in comparison with Nifty & Bse Sensex, furthermore it has tremendous hurdles in the range of 19500---19884. I would therefore suggest to exit long trade now and on the rise too and try it only if it moves above 19550 and stays or near its critical support level of 18923 & 18728 with a stop loss of below 18850 & 18780 respectively but note that below 18728 fresh long call should be completely avoided. Aggressive intra- day trader can try short call below 19160 with a stop loss of above 19240 for a target of 18950 on 19-2-2015.

BSE- Sensex  closed at 29320.26 on 18-2-2015

SUPPORT: - 29278 / 29183 / 29160 / 29144 / 28822.37 / 28731 / 28469 / 28406 / 28064.49 / 28044 / 27851 / 27739 / 27499.42 / 27485.77 / 27203.25 / 27091 / 26776.12 / 26469.42.

RESISTANCE: - 29420 / 29844.16.

Sensex is moving up in rhythm and it has almost hit the 76.40% retracement mark today which was  at 29420 furthermore today was the 6^th straight  day of rise also so it may encounter a small correction here before it moves up again or may continue the up run for few more days before correction happens, I would therefore suggest to take cautious approach and try fresh long call on 19-2-2015 only if it maintains above  29420,therefore I would still suggest to book profit below 29420 mark on existing long trade and reduce your long trade exposure to a reasonable  extent before the Union Budget so that you can handle the expected volatility after the budget in a better way. The range for it is now between 28822---29420, so long trade can be tried above 29420 on 19-2-2015 with a stop loss of below 29380, similarly if it fails to cross 29420 mark and consistently trades below it then aggressive intra-day trader can try short call also with a stop loss of above 29450.

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. Use support and resistance levels for entry, exit and trailing stop losses.

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---18-2-2015

NIFTY CLOSED AT 8809.35 ON 16-2-2015

SUPPORT: -8808.90 / 8802.50 / 8795 / 8733 / 8671 / 8626.95 / 8593 / 8535.35 / 8470 / 8445.6 / 8364 / 8282.70 / 8272.80 / 8236 / 8180 / 8160 / 8147.95 / 8065.45 / 7961.35.

 RESISTANCE: - 8822.10 / 8841 / 8873 / 8996.60 / 9040 / 9065 / 9338.

 (Figures in bold are important)

Nifty opened with a up gap at 8831.40 and made a low of 8793.40 and in this process it has filled the gap also which is good, thereafter it moved up and made a high of 8870.10, crossing the multiple top range of 8841 and almost touching the 76.40% retracement level which was at 8873 and finally closed at 8809.35. Technically it is looking good but  the noticeable thing today was that, it crossed the multiple top range of 8841 and it had almost hit the aforesaid retracement level also but could not sustain at higher level and it closed near the low of the day  which is creating a question mark that this on-going up rally may either take a breather or get exhausted here until and unless  it moves above 8873 mark and stays, therefore I would suggest to book at least part profit here and on the rise too in existing long trade  and take fresh long call only if it moves above 8873 and stays because then it can possibly surpass its previous high of 8996.60 in coming days. Please note that fresh long call should be avoided below 8800 and the authentic stop loss for positional long call would be below 8710 as of now (it keeps on changing with price movement) but It is advisable to exit long call if it consistently starts trading below 8780 on 18-2-2015. The critical support for nifty  exist at 8626.95 which may please note.

 Going up it will face resistance at 8873 & 8996.60 and moving down it will have support at 8780 / 8700 / 8658 & 8626.95. 

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 suggested to book part profit on existing long trade here and on the rise too and take fresh long call if it moves above 8873 and stays and exit long trade below 8780 on 18-2-2015.

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---18-2-2015

CNX-Bank Index closed at 19189.95 on 16-2-2015

SUPPORT: - 19166 /18923.60 / 18736.65 / 18728.20 /18428 / 18226 / 18211.50 / 18183 / 17890 / 17502.45.

RESISTANCE: - 19445 / 19568 / 19778.95 / 19844 / 19884 / 19992 / 20275 / 20610 / 20907.55. 

 (Figures in bold are important)

Index opened with a up gap at 19518.85 and made a high of 19532.70 and thereafter made a low of 19127.15 while making low it has filled the gap also and finally closed at 19189.95 about 180 points lower than its previous close, whereas Nifty & BSE-Sensex have closed marginally up today. Please note that it is not exhibiting the same strength technically at all as Nifty & BSE- Sensex is showing if fact it is showing weakness, furthermore going up it will face tremendous hurdles in the range of 19500---19884.I would therefore suggest to exit long trade now and try it only if it moves above 19575 and stays or near its critical support level of 18923 & 18728 with a stop loss of below 18850 & 18780 respectively but note that below 18728 fresh long call should be completely avoided. Aggressive intra- day trader can try short call below 19160 with a stop loss of above 19240 on 18-2-2015.

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 advice to exit long trade now and try it only at suitable level as suggested above. Short call can be tried on 18-2-2015 as suggested 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----18-2-2015

BSE- Sensex closed at 29135.88 on 16-2-2015

SUPPORT: - 28822.37 / 28731 / 28469 / 28406 / 28064.49 / 28044 / 27851 / 27739 / 27499.42 / 27485.77 / 27203.25 / 27091 / 26776.12 / 26469.42.

RESISTANCE: - 29144 / 29160 / 29183 / 29278 / 29420 / 29844.15 / 30315.

 (Figures in bold are important)

Sensex opened with a small up gap at 29170.77 and made a low of 29083 and in this process it has filled the gap also which is good and then it made a high of 29325.35, crossing the multiple top range of 29278 and  retracing more than 70% of the recent fall and finally closed at 29135.88 Technically it is looking good but  the noticeable thing today was that, it crossed the multiple top range of 29278 and retraced more than 70% of the recent fall  but could not sustain at higher level and closed not very far away from the low of the day  which is creating a question mark that this on-going up rally may either take a breather or get exhausted here until and unless  it moves above 29420 mark and stays, therefore I would suggest to book at least part profit here and on the rise too in existing long trade  and take fresh long call only if it moves above 29420 and stays because then it can possibly surpass its previous high of 29844.16 in coming days. Please note that it has critical support at 28822.37 so fresh long call should be avoided below this for sure and the authentic stop loss for positional long call is also below this mark.  It is advisable to exit long trade if it consistently starts trading below 28920 on 18-2-2015.

Going up it will face resistance at 29183 / 29280 & 29420 level and moving down it will have support at 28822.37 & 28731.

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 suggested to book part profit on existing long trade here and on the rise too and take fresh long call if it moves above 29420 and stays.

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-18-2-2015

NIFTY--Technical View---16-2-2015

NIFTY CLOSED AT 8805.50 ON 13-2-2015

SUPPORT: - 8795 / 8733 / 8671 / 8626.95 / 8593 / 8535.35 / 8470 / 8445.6 / 8364 / 8282.70 / 8272.80 / 8236 / 8180 / 8160 / 8147.95 / 8065.45 / 7961.35.

 RESISTANCE: - 8808.90 / 8822.10 / 8841 / 8873 / 8996.60 / 9040 / 9065 / 9338.

Range for the week ended 13-2-2015:-8470.50---8822.10

(Figures in bold are important)

Nifty had a good run during the week under review and closed the weekend  near the high at 8805.50 .It is showing good strength on the technical chart therefore fresh long call can be initiated above 8809 & 8822.10 with a stop loss of below 8780 .I would like to mention here that it can face stiff resistance  at 8841(multiple top range) and then at 8873 which is 76.40% retracement point of the total fall from the top of 8996.60 and bottom of 8470.50 and if it cross this mark of 8873 and stays then it can possibly surpass its previous  high of 8996.60 in coming days, chances of which are looking ok as of now. Please note that fresh call should be avoided below 8800 and the authentic stop loss for positional long call would be below 8710 as of now (it keeps on changing with price movement).The critical support for it exist at 8626.95 which may please note.

Going up it will face resistance at 8841/8873 & 8996.60 and moving down it will have support at 8795 / 8700 / 8658 & 8626.95. 

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. The pull back rally is on therefore long call can be tried as suggested 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--16-2-2015

CNX-Bank Index closed at 19369.70 on 13-2-2015

SUPPORT: - 19166 /18923.60 / 18736.65 / 18728.20 /18428 / 18226 / 18211.50 / 18183 / 17890 / 17502.45.

RESISTANCE: - 19445 / 19568 / 19778.95 / 19844 / 19884 / 19992 / 20275 / 20610 / 20907.55. 

Range for the week ended 13-2-2015:-18226.90---19441

(Figures in bold are important)

Index had a good run during the week under review and closed the weekend with good gain at 19369.70 .It is showing strength on the technical chart but it will gather real momentum if it moves above 19575 on 16-2-2015 and stays, however fresh long call can be initiated above 19445 with a stop loss of below 19340 .I would like to mention here that going up it can face  resistance  at 19575 / 19780 / 19884 / 20275 &20610 and if it manages to cross 20275 mark  and stays then it can possibly surpass the previous all time high of 20907.55 in coming days, chances of which are looking 50:50 as of now because its retracement speed is much slower in comparison with Nifty & BSE-Sensex . Please note that the authentic stop loss for positional long call would be below 19220 as of now (it keeps on changing with price movement). Its critical support levels are at 18923.60 / 18736.65 & 18728.20 below these points 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.

REMARK:- Long term up trend is still intact. The pull back rally is on therefore long call can be tried as suggested 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---16-2-2015

BSE- Sensex closed at 29094.93 on 13-2-2015

SUPPORT: - 28822.37 / 28731 / 28469 / 28406 / 28064.49 / 28044 / 27851 / 27739 / 27499.42 / 27485.77 / 27203.25 / 27091 / 26776.12 / 26469.42.

RESISTANCE: - 29144 / 29160 / 29183 / 29278 / 29420 / 29844.15 / 30315.

Range for the week ended 13-2-2015:-28044.49---29154.67

 (Figures in bold are important)

Sensex had a good run during the week under review and closed the weekend with good gain at 29094.93 .It is showing strength on the technical chart but it will gather real momentum if it moves above 29278 and stays, however fresh long call can be initiated above 29154.67 with a stop loss of below 29080 . I would like to mention here that it can face resistance at 29278(which is a short of multiple top range) and then at 29420 which is 76.40% retracement point of the total fall from the top of 29844.16 and bottom of 28044.49 however if it cross this mark of 29420 and stays then it can possibly surpass the previous high of 29844.16 in coming days, chances of which are looking o.k as of now. Please note that it has critical support at 28822.37 so fresh long call should be avoided below this for sure and the authentic stop loss for positional long call is also below this mark .

Going up it will face resistance at 29183 / 29280 & 29420 level and moving down it will have support at 28822.37 & 28731.

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. The pull back rally is on therefore long call can be tried as suggested 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--16-2-2015