NIFTY---CNX BANK INDEX---BSE-SENSEX---Technical View For-26-2-2015

NIFTY CLOSED AT 8767.25 ON 25-2-2015

SUPPORT: - 8726.75 / 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 / 8841 / 8856.85 / 8873 / 8913.45 / 8996.60 / 9040 / 9065 / 9338.

Nifty opened on a firm note at 8801.90 and made a high of 8840.65 and then was moving in the range of 8816—8830 for quite sometime before plunging down and made a low of 8751.40 and finally closed at 8767.25. It is not showing required strength therefore it is suggested to avoid long call now but if already initiated should be handled with extreme caution and care because the bias is on the downside as of now instead I would advice to try short call. The potential support points for it are at 8726.75 / 8691 / 8626.95 / 8559 & 8470 and resistance points are at 8793.40 / 8808.90 & 8860.

Trading strategy for 26-2-2015 .

1. SELL CALL:-

(A) Sell on the rise but below 8857 with a stop loss of above 8875 .

(B) Sell if it consistently trades below 8754 with a stop loss of above 8770

(C) Sell below 8726.75 for sure with a stop loss of above 8755.

2, LONG CALL:-

(A) One can try long call above 8809 or above 8860, with a stop loss of below 8790 & 8830   respectively but it would be safe to try it above 8860.

(B) Aggressive trader can try long call if it maintains above 8775 with a stop loss of below 8754.

 

CNX-Bank Index closed at 18733.05. on 25-2-2015

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

RESISTANCE: -18736.65 / 18923.60 / 19166 / 19200 / 19445 / 19532.90 / 19778.95 / 19844 / 19884 / 19992 / 20275 / 20610 / 20907.55.

Index is showing huge weakness on the chart and today it closed just above its 2^nd most important level of 18728 and break below this can pull it down to much lower levels, chances of which are looking reasonably good as of now, therefore long call is ruled out till it starts showing some strength instead I would advice to try sell call. The potential support points for it are at18728 / 18535 / 18488 & 18211 and it will face resistance in the range of 19072----19255 and then 19365----19700.

Trading strategy for 26-2-2015 .

1. SELL CALL:-

(A) Sell on the rise but below 18923.60 with a stop loss of above 18975.

(B) Sell on the rise but below 19250 with a stop loss of above 19300.

(C) Sell below 18728 for sure with a stop loss of above 18750.

2, LONG CALL:-

(A) One can try long call above 18923.60 or above 19250, with a stop loss of below 18890 & 19200 respectively but it would be safe to try it above 19250.

(B) Aggressive trader can try long call if it maintains above 18740 with a stop loss of below 18700 or above 18923.60 with a stop loss of below 18890.

 BSE- Sensex  closed at 29007.61 on 25-2-2015

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 29115.32 and made a high of 29269.83 and then was moving in a short range for quite some-time before plunging down and made a low of 28967.61 and finally closed at 29007.99. It is not showing required strength therefore it is suggested to avoid long call now but if already initiated should be handled with extreme caution and care because the bias is on the downside as of now instead I would advice to try short call. It has critical support at 28822.37 and resistance at 29350.

Trading strategy for 26-2-2015 .

1. SELL CALL:-

(A) Sell on the rise but below 29340 with a stop loss of above 29370.

(B) Sell if it consistently trades below 28975 with a stop loss of above 29040

(C) Sell below 28875.94 for sure with a stop loss of above 28900.

2, LONG CALL:-

(A) One can try long call above 29183 or above 29350 , with a stop loss of below 29135 & 29300   respectively but it would be safe to try it above 29350.

(B) Aggressive trader can try long call if it maintains above 29040 with a stop loss of below 28975.

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---CNX BANK INDEX---BSE SENSEX---Technical View---25-2-2015

NIFTY CLOSED AT 8762.10 ON 24-2-2015

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 is exhibiting huge volatility and swing on both side and it is expected to continue till the Union Budget, therefore intra-day trader can take advantage of this swing and can try both long and short call at appropriate level with proper stop loss, but please note that the bias is on downside as of now so one should be extra careful and cautious in the long trade at this point of time. It is in correction mode now and it may complete correction or may bounce back temporarily from these points 8744 / 8691 / 8626.95 / 8559 & 8470 and going up it will face resistance at 8793.40 / 8808.90 & 8860. Kindly note that  it has critical support at 8626.95 therefore long call should be avoided for sure below this point and then can be tried near 8550--- 8470 or if it bounce back again above 8626.95. Both long and short call can be taken as suggested below.

1.SHORT CALL:- Nifty movement now suggest to try  sell trade.

   (A) Sell on the rise but below 8809 with a stop loss of above 8840.

   (B) Sell below 8725 with a stop loss of above 8750 for a target of 8660.

2.LONG CALL:- Its movement suggest to avoid long call as of now but aggressive trader can try it  as mentioned below.

   (A) One can try long call above 8809 or 8860, with a stop loss of below 8790 & 8830   respectively but it would be safe to try it above 8860.

             

CNX-Bank Index closed at 18883.80. on 24-2-2015

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 in correction mode and showing tremendous weakness and it is below its 1^st critical support level of 18923.60 also and the 2^nd most important support level is at 18728 and it almost touched it today and please note that break below this mark can drag it down to much lower level, however it may complete correction or may temporarily bounce back from these points 18728 / 18535 / 18488 & 18211 and going up it will face resistance in the range of 19081----19360 and then 19520----19850, looking at overall picture it is suggested to avoid long call completely now till it at least move above 19360 and stays instead try sell call below 18923.60 or on the rise but below 19340 similarly  those who want to try long call can try above 18923.60 but with extreme caution because the bias is on the downside therefore it is better to avoid long call till it shows some strength.

 BSE- Sensex  closed at 29004.66 on 24-2-2015

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  is in correction mode now and it may complete correction or may temporarily bounce back from these points 28822 / 28609 / 28340 & 28044 and going up it will face stiff resistance up to 29365.Therefore in overall technical view it is suggested to avoid long call till it moves above 29365 and stays instead short call can be tried either on the rise but below 29340 or below 28975 with a stop loss of above 29040 similarly aggressive trader can try long call above 29005 with a stop loss of below 28975. Please note that the bias is on the downside as of now therefore any long trade initiated should be handled with extreme caution.

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.

Trading Calls For---24-2-2015

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.