CNX-NIFTY--A TECHNICAL VIEW---4-9-2015

CNX-NIFTY

Closed at 7823 on 3-9-2015

As expected it gave good up rally today and went beyond its first tough resistance mark of 7840 by a whisker and hit a high of 7845.60 but closed below it. However today's rally did not give any sign of weakness during the day, therefore this rally may last for another 1-2 days provided if it moves above 7846 level tomorrow and sustain, if it does then this rally may get extended to the range of 7896--7940---7972 where possibly it may exhaust, but if it moves beyond 7972 and sustain then this rally may extend further, chances of which are looking slim at this point of time. Please note that as of now it is a pull -back rally only therefore one should not be much enthusiastic about it because the trend is down now.

Suggested Trading Strategy

1. Those who are carrying long position are advised to book part profit if it does not move above 7846 because the stop loss for long trade for tomorrow is much lower at below 7750. Above 7846 trail the stop loss to below 7820.

2.Those who want to initiate fresh long call can try if it moves above 7846 and sustain with a stop loss of below 7820.

3.One can try short call in the range of 7930--7960 with a stop loss of above 7980 or below 7750 with a stop loss of above 7775.

Support:-7699.25/7667.25/7540/7457--7422/7350/7250/7118.

Resistance:-7840-46/7896/7940--7972/7997/8065.

Remark:--Since the trend is down but the pull back rally is on, therefore it is suggested that long trade should be handled with extreme caution and care because these rallies may end abruptly also.

Please 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.

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-NIFTY-A Technical View--3-9-2015

CNX-NIFTY

Closed  at 7717 on 2-9-2015.

It opened firm and on a positive note today but could not hold at upper levels and went below 7700 mark during the day, but it held the bottom of 7667 it made on 25-8-15 and managed to close above 7700 at the end of the day but below the earlier major bottom of 7723.85 which is a very bad sign.

It is very badly placed on the technical chart but the only silver lining is that RSI on the line chart is still showing positive divergence on the daily chart and if it comes into play then it may give a short up rally before resuming the down move again. Going up it will face tough resistance at 7723.85/7840/7940--7962.Therefore in wake of the positive divergence it is suggested to avoid short call till it breaks 7667 mark and stay below it or try sell on the rise where you see sign of exhaustion of the expected rally, but those who want to take advantage of the expected pull back rally may try long call at current rate or near 7667 level with a stop loss of below 7650. Please note that avoid long call and try short call below 7660 for sure.

Support:-7708/7667/7540/7457--7422/7350/7250/7118

Resistance:-7723.85/7840/7940--7962/7997/8065/8092.

Remark:-Trend is down, therefore one should be extremely careful and cautious attempting long trade for an expected pull back rally because these rallies are inherently weak and may fizzle out abruptly.

Please 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.

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-NIFTY--- TECHNICAL VIEW---2-9-2015

CNX-NIFTY

Closed at 7785.85 on 1-9-2015

As expected it broke down 7940 mark, the lower band of the range and went down sharply and took support near one of earlier important bottom of 7723. It made a low of 7746.50 for the day and closed slightly above the low at 7785.85. It is exhibiting gross weakness on the technical chart and indicate further fall ahead and the recent bottom of 7667.25 it made on 25-8-15 is likely to breached in coming days, however in between short rallies cannot be ruled out. Since the trend is down and it is clearly sell on the rise market as of now, therefore it is suggested to avoid long call till it gives reasonable indication of a firm bottom formation.

It is important to mention here that there is a clearly visible Head & Shoulder pattern on the weekly chart and today it has broken its neckline decisively which was in the range of 7962-- 7940,although today was not the weekend but if it manages to close below 7940 on the weekend then the pattern could come into play and if it does then it can create havoc in coming weeks ,because the downside target of this pattern is in the range of 6900--6780 and moving up 7940--7962 range will pose a very stiff resistance to cross, other important support and resistance point are mentioned here under.

Support:-7723/7667/7650/7540/7422/7350.

Resistance:-7940/7962/8010/8065/8092.

Remark:- It is running below all its long term moving averages for number of days ,therefore it has severely threatened the long term uptrend and if this down move continues for some more days the uptrend may be over. Therefore for me long trade is completely ruled out for now instead I would try sell- call on the rise at appropriate points with proper stop losses.

Please 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.

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.

CNX-NIFTY--A Technical View--1-9-2015

CNX-NIFTY

Closed at 7971.30 on 31-8-2015

Nifty moved within the range of 7940--8092(see my update for 31-8-2015) today and after hitting a high of 8043.60 for the day, it closed near the lower band of the range which indicate that it is expected to break 7940 level in coming days, break below this mark can drag it down to 7840/7769/7723/7650/7540 levels. Moving up it can face resistance at 8002/8010/8065/8092/8195/8225. I reiterate that the trend is down hence it may seek lower levels in coming days, therefore one should be extremely cautious in the long trade.

Some Trading Strategy

1.Those who want to try Long call can try above 7975 with a stop loss of below 7940 ,can add on to position above 8010 with a stop loss of below 7990.

2.Avoid long call below 7970 and below 7940 for sure.

3.can try sell call below 7970 & below 7940 for sure with a stop loss of above 8015& above 7980 respectively.

Remark:- Trend is clearly down ,therefore it is suggested to avoid long call now but those who want to initiate long trade depending on the price movement should be extremely watchful in their trade. I would not like to go against the trend, hence would avoid long call completely now instead try short call at appropriate levels.

Please 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.

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 AVERAGE--A Technical View-30-8-2015

Dow Jones industrial Average

Closed at :-16643.01 on 28-8-2015

After 8-9 months of distributions it has given downside breakout from the flag pattern bottom of 17037.76 and went down by more than 1650 points in just three trading session and hit a low of 15370.33 and in this process it has broken all its short and long term moving averages decisively which indicate huge weakness in it and further fall ahead, however in between short up rally cannot be ruled out and the same is happening now but it seems difficult to sustain. Long term up trend is severely threatened or may be over.

Furthermore huge negative divergence is visible on weekly and monthly chart and if it could come into play it can drag down the Dow below 15000 mark very soon, chances of which are looking very bright at this point of time.

Going down the bottom support point are at 16333/16015/15855/15340/14719.

Moving up it will encounter resistance at 17037 & 17067. It is well below its long term moving averages on the daily chart and the long term moving average support on the weekly chart is in the range of 16546---16170---15085 now(it keeps on changing every day). So 15000 could be considered as good support area but if it fails to hold this or after breaking this level fails to move above it again then fresh fall will be triggered and that can drag it down to much lower levels. Dow is badly placed on the chart.

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-NIFTY--A Technical View---31-8-2015

CNX-NIFTY

It had a fairly wide range of movement during the week ended on 28-8-15. It hit a low of 7667.25 and a high of 8091.80 and closed the week at 8001.95 but technically it is still on a weak footing and it will gain some strength and stability if it moves above 8195 & 8230(this figure changes every day, I will be updating it)and sustain ,chances of which are looking weak at this point of time. The trend is down but short up rally from time to time can happen as it is happening now.

It seems that for safe trader the range of 7940---8092 is a no trade zone but aggressive trader can try both long and short call within this range.

Some Trading Strategy for Safe and Aggressive trader.

1.safe trader can try buy call near 7962 or above 8092 with a stop loss of below 7940 & 8060, can try sell call near 8070--90 or below 7940 with a stop loss of above 8110 & 7970.

2.Aggressive trader can try buy call above 8002 or near 7962 with a stop loss of below 7980 & 7940 or can try sell call below 7980 with a stop loss of above 8010.

Support:-7961/7940/7840/7769/7723/7667.

Resistance:-8065/8092/8195/8283/8316.

Remarks:-Since the trend is down therefore long trade should be handled with extreme caution. I would personally avoid buy call now and look forward for selling opportunity.

Please 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.

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.

INVESTMENT IDEA FOR-6--12 MONTHS--USHER AGRO

Usher Agro Ltd. 

Industry: (Food Processing)

(NSE: USHERAGRO | BSE: 532765)

(Closing price on 14-08-2018: Rs. 43.60)

Price Background: The all-time high for the script which is Rs.162.40 was made on 26-7-2011 and all-time low of Rs.24.15 was made on 30.9.2013. The high and low for year 2013 was Rs.69.55 & Rs.24.15 and for 2014 Rs.62.90 & Rs.28.00 respectively. The high and low for year 2015 (as on date) is Rs.29.70 & Rs.55.85.

Company Profile:- Usher Agro Limited was founded by Dr. Vinod Kumar Chaturvedi and Mr. Manoj Pathak on June 20, 1996. The company’s name was inspired by its meaning. “Usher” (verb) means: “cause or mark the start of something new”. It entered the Food Processing Sector by setting up its first Rice Milling Plant at Mathura, Uttar Pradesh in 1996 of 10,800 MTPA and today has grown to become one of the largest agro-food processing companies in India with integrated milling capacities of Rice, Wheat and Pulses. With this the company also manufactures other value added products like silica, fortified rice. The company also prides itself to have one of the largest single location Rice milling capacity in India. Usher sells its products under the widely accepted brand name “Rasoi Raaja”. The company also has a subsidiary called Usher Eco Power Ltd, It is into Rice Husk based eco-friendly power generation activity located at Chhata Dist: Mathura, U.P. generating 16 MW power. The Company has also forayed into the manufacturing of Silica from the ash generated by the burning of husk.

Usher has one of the largest single location rice milling plant in India of 9,72,000 MT PA y Total Rice milling capacity of 10,81,440 MT PA y Wheat milling capacity of 1,25,400 MT PA y Pulses and Pulses flour of 1,28,700 MT PA y 12 Modernized silos at Chhata plant each with a capacity of 3,000 MT to store raw material.(source of company profile www.bseindia.com)

Fundamental: The Company has been giving good financial performance year after year but it is not truly reflected in the share prices but the price performance cannot be ignored by the market for long and it may start to happen in coming days. For the year ended 30-6-2015 it has posted a net profit of 62.09 crores giving an E.P.S of Rs.16.31. At the current rate, the stock is at a very low P/E of 2.67. Therefore, I feel that the stock has good potential to move up.

Technical’s: Technically the stock is in consolidation mode and it may take some time to gather up momentum .Once it crosses Rs.48 mark and sustain then steady up move may begin. The key support and resistance level for the script are given here under.

SUPPORT LEVELS:-39.70 / 35.70 / 33.60 / 32.50 / 29.70. 

RESISTANCE LEVEL:-50.90 / 52.65 / 55 / 55.85 / 62.90 / 70.95 / 103 / 104.75.

Recommendation: I expect a return of 50-100 % in 6-12 months. I therefore recommend investing at least 30% of the marked fund for the script at the current level and then suggest buying on dips. Kindly be alert if the stock price goes below 35 and stays at that level. Please get out of the stock if price closes below 32.50.

P.S. Kindly note that make your cost your stop loss in favorable trade and then trail it as the price of the stock moves up to gain maximum profit.

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.

CNX-NIFTY-A TECHNICAL VIEW--17-8-2015

                                                                                                        16th, August, 2015

 CNX NIFTY           

 CLOSED AT 8518.55 ON 14-8-15.

Nifty’s movement was highly and unexpectedly volatile during the week ended on 14-8-15. It opened the week at 8577 and made a high of 8621.55 and then made a low of 8337.95 before closing the week at 8518.55. It went up by 162.70 points on the last day of the week which was surprising, therefore for cautious trader it is suggested to watch the market for a day or if not for the day then at least for two hours to take a trading call, but aggressive trader can try long call above 8510 and add on position if it sustain above 8533, the stop loss for long trade would be below 8470. Please get alerted in long trade below 8500 and avoid fresh long trade below 8470 for sure. It is important to mention here that the nifty will gather the sharp momentum and robust up move only if it moves above 8626.95 mark and sustain. 

Going up it will face resistance at 8555 / 8621.55 / 8626.95 / 8654.75 / 8670 & 8850 and moving down it will have good support at 8470 / 8337.95 / 8321.75 / 8315.40 / 8269 & 8195.65.

Please 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.

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-NIFTY-A TECHNICAL VIEW--6-8-2015

                                                                                                            6th, August, 2015

 CNX NIFTY           

 CLOSED AT 8567.95 ON 5-8-15.

Nifty opened firm at 8547.45 and made a low of 8545.85 and then a high of 8591.85 for the day and closed at 8567.95. It did cross 8561.35 mark during the day but closed just above it therefore, Head & Shoulder pattern making may be in question so watch out, it could be a whip saw also (see my previous post). Technically it is looking ok now but not showing the required momentum. However it suggest to go for long trade on dips but please get alerted below 8532 in your trade and avoid fresh long trade below 8510 & 8490.The short stop loss for long trade would be below 8490 but the authentic stop loss for positional long call would be below 8448. For day traders it is suggested to avoid long trade below 8540. It is important to mention here that the nifty will gather the sharp momentum and robust up move only if it moves above 8626.95 mark and sustain above it.  

Going up it will face resistance at 8626.95 / 8654.75 / 8670 & 8850 and moving down it will have good support at 8470 / 8321.75 / 8315.40 / 8269 & 8195.65.

  

REMARKS;- Although technical parameter are ok now and suggest buy on dips but looking at last three days  movement of nifty ,I, would be extremely cautious in the long trade, in fact I would personally  prefer to try long call if it sustain above 8626.95 only. However traders can try long call with suggested stop loss.    

Please 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.

--

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-NIFTY- A TECHNICAL VIEW---4-8-2015

                                                                                                            4th, August, 2015

 CNX NIFTY           

 CLOSED AT 8543.05 ON 3-8-15.

Nifty opened on a weak note at 8510.65 and made a low of 8508.10 and then a high of 8563.95 for the day and closed at 8543.05. It was cautious and moved in a short range of between 8560—8530 the whole day ahead of RBI’S credit policy.

Technically it is looking o.k now but it is suggested to keep the long commitments lighter as today’s move was not that encouraging. Please get alerted in long trade if it consistently starts trading below 8530 and avoid fresh long call below 8510 and below 8490 for sure. The stop loss for the long trade would be below 8450. I once again reiterate that it will give sustained up move only if it crosses 8626.95 mark and sustain.

 It is also visible on the chart that Nifty is in the process of making Head & Shoulder pattern and to accomplish this pattern it should not cross 8561.35 mark decisively and then start moving down  and break the level of 8315(Neckline) to achieve the Head & Shoulder target of 7980-40. Please note if it either crosses 8561.35 mark decisively or does not break 8315 level then it will be a failed pattern, so watch out for 8561.35 level. Caution is advised for long trader.  

Going up it will face resistance at 8561.35 / 8626.95 / 8654.75 / 8670 & 8850 and moving down it will have good support at 8470 / 8321.75 / 8315.40 / 8269 & 8195.65.

REMARKS;-  In totality my bias is slightly on the downside therefore one should be very cautious and careful in the long trade ,because this on- going up may end abruptly.

Please 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.

--

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-NIFTY--A TECHNICAL VIEW---3-8-2015

                                                                                                            2nd, August, 2015

 CNX NIFTY           

 CLOSED AT 8532.85 ON 31-7-15.

Nifty had a tremendously volatile movement during the week ended on 31-7-2015. It made a low of 8321.25 and a high of 8548.95 for the week before closing the week near the high at 8532.85. Kindly note that huge volatility is not a good sign for a steady market, therefore trade position should be handled with extreme caution and care because technical parameter may switch side very fast.

Technically it is looking o.k now and suggest to go for long  trade , therefore those who are already having long position should hold with a stop loss of below 8450, one can still initiate long position but it would be safe to initiate long position if it maintains above 8533 and one can add on to position if it moves above 8550 and sustain with a stop loss of below 8505 for the added long position. Please avoid fresh long position below 8495. Similarly if it moves below 8450 and sustain then short call can be initiated with a stop loss of above 8505.

It would be important for nifty to cross 8561.35 mark in 2-3 days time to give some hope of regaining up momentum but it will regain the real strength and sustained up momentum only if it maintains above 8626.95 level. Going up it will face resistance at 8561.35 / 8626.95 / 8654.75 / 8670 & 8850 and moving down it will have good support at 8470 / 8321.75 / 8315.40 / 8269 & 8195.65.

REMARKS;- Technical parameters suggest to go long now but it seems that nifty is in a mid range now  and it will give clear up momentum signal only if  it crosses 8626.95 mark and sustain above it, therefore long position should be handled with extreme caution because volatility in the nifty could end this up move abruptly also.

Please 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.

--

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--NIFTY---- TECHNICAL VIEW--21-7-2015

                                                                                                                

 CNX NIFTY           

 CLOSED AT 8529.45 ON 20-7-15.

Nifty went past its critical and most important point of 8626.95 today also but failed to close above this mark, in fact it plunged down sharply in the last 45 minutes of trade today and made a low of 8517.90 before closing the day near the low at 8529.45. Please note that today’s movement indicate that the on- going up move may be over and down slide may begin, if it does not close above 8626.95 in next 3-4 days. Therefore it is suggested to initiate fresh long trade only if it closes above 8626.95 and sustain or after a reasonable decline. Going down it may find good support at 8480 / 8440 / 8393 / 8368 / 8269 & 8190.  It is important to mention here that if it breaks the 8190 mark and sustain then it may break the bottom of 7940.30 it made on 12-6-2015.  

Looking at today’s movement my bias is completely on the downside, therefore, I would prefer to try sell call on the rise till it closes above 8626.95 or on breaking of the important support levels. On 21-7-2015 sell call can be tried below 8517 with a stop loss of above 8540 for a target of 8480 / 8440 & 8400.   

Please 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.

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-----20--7--2015

CNX-NIFTY--A TECHNICAL VIEW FOR THE WEEK STARTING FROM-20-7-2015

                                                                                                                 18^th, July,2015

 CNX-- NIFTY           

 CLOSED AT 8609.85 ON 17-7-15.

Nifty has shown good up move during the week ended on 17-7-2015 and it crossed its first critical point of 8505 on 15-7-2015 and sustained and also went past the most important point of 8626.95 intra –day on 17-7-2015 but could not close above it. However technically it is showing good strength and if it closes above 8626.95 and sustain then it can hopefully regain good momentum but going up 8670 mark will pose very stiff  resistance and if this point is taken out then it may hit 8850 / 8914 / 8997 & 9119.20 in coming days, so be cautious around 8670 mark in long trade . Good support for it exist at 8561 / 8504.95 / 8470 / 8368 / 8269 & 8190.

SUGGESTION:-  

1.Fresh long call should only be initiated if it closes above 8627 with a stop loss of below 8555 but those who are already carrying long  position may at least book part profit if it remains below 8627 and exit completely below 8555.

2.Technically  there is no sign of initiating  a short call now but  since it had  a strait up move from 8315 to 8642.95 and now it is near and below its critical point of 8626.95,therefore a short call can be tried if it sustain  below 8627 with a stop loss of above 8650.

Please 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.

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--13-7-2015

CNX--NIFTY- A TECHNICAL VIEW---13-7-15

                                                                                                                 12^th,July,2015

OVERVIEW  ON THE CNX NIFTY           

 CLOSED AT 8360.55 ON 10-7-15.

Nifty did give upside breakout from the critical point of 8504.95 on 6-7-15 and closed at 8522.15 but could not sustain it for minimum time of even 3 days and fell back below 8400 on the 3^rd day to close at 8363.05 on 8-7-15 this move indicates that the said breakout was not valid and this was a corrective up rally which may be over. If it so then it should not move above 8505, therefore the range for it is between 8170---8505 for now and breakout on either side will decide which way it is going to move. Please note that  it will regain momentum only if it moves above 8627 and sustain, chances of which are looking slim at this point of time similarly break below 8170 mark will accelerate the fall and it may break the bottom of 7940.30 it made few days back. Looking at the technical parameters my bias is on the downside and I would avoid long call below 8505 instead I, would look for the opportunity to sell. However the market swings provides opportunity for both long and short trades for the intra-day traders. Going up it will find resistance at8423.15 / 8467.15 / 8489.55 8505 & 8561.35 and moving down it may get support at 8315.40 / 8269 / 8170 / 8065 / 7997 / 7961 / 7940.

SUGGESTION:-  

1.Those who want to try long call can try it above 8377 with a stop loss of below 8350. Avoid long call below 8360 and then below 8315 for sure. I would not prefer to try long call below 8505.

2.Short call can be tried either below 8360 with a stop loss of above 8425 or on the rise at appropriate points.

Please 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.

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-NIFTY---A TECHNICAL OVERVIEW

OVERVIEW  ON THE CNX NIFTY  

Nifty is critically poised now and technically it is at make or break juncture at present. It is showing strength now and if it closes above 8505 and then above 8627 and sustain then it can regain its lost momentum. Going up it will find resistance at 8627 / 8850 / 8914 / 8996.60 & 9120 levels, similarly if it consistently starts trading below 8440 then it will be the first sign of weakness and going down it will have critical support at 8269 / 8150 and then at 7997 / 7961 / 7940/ 7841 / 7723 & 7540.10. Please note that if it falls and breaks 8150 mark and sustain below it then fall may accelerate sharply.

SUGGESTION:-  

1.     If one tries long call now then the stop loss would be below 8440 and above 8505 the stop loss would be below 8470.I would personally try long call only if it closes above 8505.

2.     Although there is no technical weakness here but since it is at make or break point, Short call can be tried below 8505 with a stop loss of above 8525 but avoid fresh short call above 8505 and above 8627 for sure or else try it below 8440 with a stop loss of 8485.I would prefer to try short call near 8505,if it remains below 8505 in the first 1,1/2 hour trade on 6-7-2015.

Please 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.

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---A TECHNICAL VIEW----14-5-2015

CNX NIFTY

CLOSED AT 8235.45 ON 13-5-2015.

SUPPORT: - 8230 / 8191.50 / 8181.50 / 8180 / 8160 / 8147.95 / 8144.75 / 8140 /8089 / 8065.45/ 7997.15 / 7961.15 /7841 / 7723 / 7540.10.

RESISTANCE: - 8236.65 / 8269.15 / 8272.80 / 8282.70 /8355.65 / 8364.75 / 8445.60 / 8470.50 / 8504.95.

Nifty opened today with a sharp jump at 8181.55 and within 45 minutes of trade made a high of 8254.95 and thereafter in an hour’s time by 11-11.15 AM it went down sharply and hit a low of 8089.80 and then again made a U turn and finally closed near the high of the day at 8235.45. It exhibited huge volatility and wild swing today which is indicative of weakness in it, however its close near the high today may be because of possible short covering but this may end abruptly also or may last for another day or two if it does last then  this process may get exhausted at any of these points 8269----8282----8320----8356. Please note that if it moves above 8356 and sustain then this rally may extend up to 8410---8450----8510. I feel that on highly optimistic note this move may end between 8320---8352 or earlier. I would therefore suggest to try sell call 8300 plus for sure with a stop loss of above 8360 and if this move ends all of a sudden then other sell points are near 8283 and below 8180 & 8140 and below 8125 for sure, similarly those who want to try long call can try above 8237 with a stop loss of below 8180. Since it is clearly sell on the rise market therefore it is suggested to avoid long call and if initiated should be handled with extreme caution. I would prefer to  try sell call. 

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 up –trend is severely threatened. Therefore it is advised to avoid long call.

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---13-5-2015

NIFTY----A TECHNICAL VIEW----13-5-2015

CNX NIFTY

CLOSED AT 8126.95 ON 12-5-2015.

SUPPORT: - 8125 / 8065.45/ 7997.15 / 7961.15 /7841 / 7723 / 7540.10.

RESISTANCE: - 8144.75 / 8147.95 / 8160 / 8180 / 8181.50 / 8191.50 / 8231 / 8236.65 / 8269.15 / 8272.80 / 8282.70 /8355.65 / 8364.75 / 8445.60 / 8470.50 / 8504.95 /

Nifty opened flat at 8326.15 and the open was the high also ,then in just 15-20 minutes of opening  trade is slipped down by 100 points and thereafter it steadily moved down throughout the day and made a low of 8115.30 before closing near the low of the day at 8126.95. It lost 198.30 points today which shows gross weakness in it. The on –going up rally seems to have fizzled out as expected and in the desired range and time frame (see my last post dt-11-5-2015). Since today’s fall was huge so it may take a pause here for a day or two before the fresh slide begins, therefore the important range for now is 8115—8145---8192--8269 on the up side and 8065---7960 on the downside. Since the trend is down therefore it is suggested to try short call on the rise at appropriate levels  or below 8115 with a stop loss of above 8145.Please avoid fresh short call if it moves  above 8145 and sustain.It would be safe to try sell call below 8115 today.

Kindly note that it is tremendously weak on the technical chart and it is very likely to break the recent bottom of 7997.15 it made on 7-5-15 in coming days and may seek much un-believable lower levels in coming months. I, would therefore advice to avoid long call till clarity on solid bottom formation emerges, however day trader can try long call for in between pull back rally from time to time at proper levels but it should be handled  with extreme caution because it absolutely sell on the rise market 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.

REMARKS:- Long term up –trend is severely threatened . The on-going up-rally seems to have exhausted today, therefore it is suggested to avoid long call, short call can be tried 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.