CNX-NIFTY--A TECHNICAL VIEW-10-9-15

CNX-NIFTY

Closed at 7818.60 on 9-9-15.

Support:-7723.85/7708/7667.25/7539.50/7450--7422.

Resistance:-7840--7881/7940--7972/7997/8065/8092.

The up rally which started yesterday continued today also and gave no sign of exhaustion at any point of time during the day, looking at the strength of the move today it seems that this rally may continue for another few days and may get exhausted either in the range of 7840--7881 or 7940--7972,but if it moves above 7972 and sustain then this rally may extend further. Kindly note that it will show some strength if it moves above 8183(it changes every day) and sustain, chances of which are not looking that bright at this point if time.

Please note that the on- going up move is just strong nature d pull back rally only, so be alert and don't  get caught unaware in this rally, because sometimes these rallies exhaust without giving any warning signal. Therefore long trade should be handled with extreme caution and care.

Trading Strategy

1.Those who are still  holding long trade should get alerted below 7744 and exit trade below 7708. Since the stop loss is at much low level it is suggested to book part profit in the trade at current rate and on the rise too, because it will face huge resistance in the range of 7840--7881.

2.Those who want to initiate fresh long trade can try it on the dip also but not below 7764, the stop loss would be same as suggested above or can try it above 7881 with a stop loss of below 7840.

3.Can try sell call below 7744 with a stop loss of above 7805 and add on to position below 7708 with a stop loss of above 7744 or try sell call in the range of 7840-7881 with a stop loss of above 7900.

Remark:--The trend is still down and it is just a pullback rally which may fizzle out any time, therefore I caution long trader to be extra vigilant and careful in their trade. I would personally avoid long trade.

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-BANK NIFTY--A TECHNICAL VIEW-10-9-15

CNX-BANK NIFTY

Closed at 16631.50 on 9-9-15.

Support:-16452/16419/16188/16120/15933.

Resistance:-16670/16730/16781.55/16880/16984/17150.

The pull back rally which started yesterday continued its robust up move today also and went beyond the benchmark level of 16730 for remaining in the bear market territory and hit a high of 16781.55 but closed below the benchmark level, so still it is in the bear market. But today's price movement showed no signs of weakness therefore this rally may continue for another 2-3 days and may get exhausted in the range of 16837--16984--17150 or it may have already exhausted today since after crossing the threshold level of 16730(to remain in bear market) it could not sustain above it , so if it does not cross 16781.55 mark  tomorrow then it may be construed that the on -going pull back rally may be over.

It is needless to mention here that the pull back rallies are treacherous in nature and may end abruptly also.

Trading Strategy

1.Those who are still holding long position are advised to book at least part profit  in their trade at current levels because resistance levels are very close in the range of 16670--16730--16840 and stop loss is at much lower level of 16400.  Therefore it would be prudent to exit long call completely at current level and on the rise and think of fresh long trade only, if it moves above 16840 and sustain with a stop loss of below 16720.

2.Can try sell call at current level and on the rise but below 16840 with a stop loss of above 16880 or sell below 16400 with a stop loss of above 16470.

Remark:- Since it is in bear market territory and  it could not sustain the important level of 16730 today ,which is an indicative that this pull back rally may be over or near it, so long call is ruled out for tomorrow if it remains below 16840 instead sell call is suggested as mentioned above.

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-BANK NIFTY--A TECHNICAL VIEW---9-9-2015

CNX-BANK NIFTY

Closed at 16350.95 on 8-9-2015.

I was expecting a pullback rally from a little lower range of 15535--15425--15140 but it happened from the current level of 15790,it is really difficult to time these rally. It gave a robust up move today and hit a high of 16419 for the day before closing the day near the high at 16350.95, today's rally showed tremendous strength and if it manages to hold the level of 16180 this rally may last for another 2-3 days and moving up it would tough resistance at 16460/16671/16730/16880/ 16985.Going down it will find support at 16180/16120/15933/ 15888/15819/15762/15535/15130.

It is important to mention here that it is still in bear market territory , therefore one cannot rely on the single days strength of the pull back rally because these rallies may fizzle out abruptly also therefore one should be vigilant in long trades. Please note that it can come out of the bear territory if it moves above 16730 and sustain.

Trading Strategy

1.Those holding long position can hold but get alerted below 16180 and exit trade below 16120,since stop loss is much lower, therefore it is suggested to book at least part profit in your trade, so in case market chooses to go down you cannot end up making losses.

2. Day trader can take fresh long call above 16460 with a stop loss of below 16400.

3. Short call can be tried if it consistently starts trading below 16180 with a stop loss of above 16240 or near 16670--16730 with a stop loss of above 16780.

Remark:-Since the trend is bearish, therefore despite today's robust pull back up move one should be circumspect in the long trade because this rally may end any moment .

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---9-9-2015

CNX-NIFTY

Closed at 7688.25 on 8-9-2015.

It opened firm today at 7587.70 and breached the important bottom of 7540 by a whisker for a while and made a low of 7539.50 for the day and thereafter it steadily moved up and hit a high of 7720.90 before closing the day at 7688.25.

 As expected it gave an up move today, it was a robust up rally and that was not expected but the pull back rallies are like this only and unpredictable in nature. Since it is within the very important range of 7724--7667--7626 therefore if it moves above 7724 tomorrow and sustain then this rally may last for another 2-3 days otherwise it may end abruptly also. If it moves above 7724 then the next important level to watch out on the upside are at 7780/7840/7940--62 where this rally may get exhausted. Please note that if it consistently starts trading below 7667 tomorrow and then break 7626 mark and sustain then that may be the end if this rally.

Trading Strategy

1.Those holding long positions are advised to get alerted below 7667 and exit trade if it starts trading below 7626,please avoid fresh long call below 7667. One can add on to long position if it moves above 7724 and sustain with a stop loss of below 7680.

2. Short call can be initiated if it consistently starts trading below 7667 with a stop loss of above 7690. One can add on to position below 7626 with a stop loss of above 7667 or if it does not cross 7724 mark in first two hours of trade then go short around 7700--7720 with a stop loss of 7745.

Support:-7685/7667/7655/7626/7540/7526.

Resistance:-7710/7720.90/7750/7815/7840/7880/7940-7962.

Remark:-The trend is down, it is just a pull -back rally so be alert in your long trade and don't get carried away because these -rally may fade away without giving due warning signal.

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----8-9-2015

TRADING CALLS

Note: Price stated here is of spot market.

1.     DR.REDDYS LAB

 Sell below 3930, S/L-3950, Target-3850.

2. ADANI PORT

Sell below 320, S/L-323, Target-309/300/298.

3. APOLLO HOSPITAL

Sell below 1250, S/L-1265, Target-1195/1150.

4. AUROBINDO PHARMA

Sell below 705, S/L-711, Target-695/689/680/675.

5. AXIS BANK

Sell below 446.75, S/L-450, Target-424.

6. BHARAT FORGE

Sell below 1005, S/L-1016, Target--995/930/875.

7. CIPLA

Sell below 644, S/L--650, Target--633/626/605.

8. SIEMENS

Sell below 1137, S/L--1144, Target--1105/1080.

9. S.B.I

Sell below 220, S/L--222, Target--216/203/191.

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.

Contact me for strategic guidance to enter and exit the trade

CNX-BANK NIFTY--A TECHNICAL VIEW--8-9-2015

CNX-BANK NIFTY

Closed at 15790.10  on 7-9-2015.

It is already in the bear market territory (see my post for 7-9-15) and today it has given fresh breakdown and gone below the low of previous week which was at 15933.15 and this break is exhibiting further huge weakness in it and slowly and steadily it is expected to open new downside range in coming days/weeks, however in between the short up rallies cannot be ruled out but it is better to avoid taking advantage of these rallies in the bear market. Please note that it may take support for a while in the range of 15530--15425--15130 and may stage a short pull back rally from here before fresh breakdown down happens.

Going down it will find good support at 15535/15425/15130.35/14709.10/14338.65 and moving up it will encounter resistance at 15933.15/16130/16223/16670.55/16730.

Trading Strategy

1. It is suggested to avoid long call for safe and positional trader but for day trader if they wish to can try long call above 15790 with a stop loss of below 15750 or above 15935 with a stop loss of below 15880. Avoid long call below 15760 on 8-9-15 for sure.

2. Sell on the rise but below 15933 with a stop loss of above 15970 or below 15760 with a stop loss of above 15800.

Remark:-Since it is in bear trend therefore it is suggested to look for selling opportunity rather than trying buy call because one may get trapped in buy call in the bear market up rallies. Therefore sell on the rise till clarity on bottom formation emerges and that seems far away at this point of time.

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---8-9-2015

CNX-NIFTY

Closed at 7558.80 on 7-9-2015

Support:-7540/7526/7450--7422/7350/7250/7118.

Resistance:-7627/7655.05/7667.25/7685.95/7724/7780/7840/7940--7962.

It opened firm and on a positive note at 7685.85 and hit a high of 7705.05 for the day but could not hold on at upper level and slipped into red after some time and plunged sharply in the 2nd half of the day and made a low of 7545.90 and closed the day near the low.

The trend is down and it is opening new downside range every other day which shows tremendous weakness in it and indicate that moderate to severe fall ahead in coming days/weeks. However  as I always write that in between short rallies could happen from time to time but the steady trend is hugely down therefore don't get caught into these rallies and combat these rallies smartly with the help of support and resistance points. In fact I would suggest to avoid taking advantage of these rallies, therefore long trades are ruled out till clarity on firm bottom formation emerges.

Since it is near an important support range of 7540--7526 and today it has respected this range therefore if it hold this range tomorrow then it may give a short up rally from here, therefore those who want to try long call can try around this range with a stop loss of below 7520 but moving up it will face huge resistance in the range of 7627--7655.05--7667.25--7685.85/7724,therefore even if it gives an up rally it seems difficult to cross this range. One should be circumspect in long trade and avoid fresh long call below 7526 for sure.

I would suggest to try short call on the rise but below 7667 with a stop loss of above 7695 or below 7540 with a stop loss of above 7565.

Remark:-The trend is hugely bearish therefore it is suggested to try short call at appropriate points and it is better to avoid long call for now.

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--7-9-2015

CNX-NIFTY

Closed at 7655.05 on 4-9-2015.

As expected yesterday's pull back rally was abruptly fizzled out today and as anticipated it broke the recent bottom of 7667.25 it made on 25-8-15(see my Post for 2-9-15) and hit a low of 7626.85 and closed around 29 points above the low of the day which shows huge weakness in it and indicate further fall ahead and the fall can be moderate to huge.

Furthermore  you would recall that I have mentioned about the  Head & Shoulder pattern on the weekly chart(see my Post for 2-9-15) and it has decisively broken its neckline on the weekend basis ,which was in the range of 7940--7962 ,therefore it is expected that the pattern will come into play and if it does, then it can drag down the nifty to 6900--6780 level in the coming weeks, but if the pattern  negates then it will have to move above the neckline range of 7940-7962 in the coming week, chances of which are looking slim at this point of time.

Support:-7626.85/7540/7457--7422/7350/7295/7250/7118/7080.

Resistance:-7667.25/7724/7780/7840/7940-7972.

Trading Strategy

1.It is suggested to avoid long call but those who want to try can try it above 7667.25 only with a stop loss of below 7620.

2.Short call is suggested below 7667.25 and below 7626 for sure with a stop loss of above 7685 or on the rise at proper levels.

Remark:-Please note that,I have been repeatedly writing in my post  that the trend is down and it is clearly sell on the rise market ,therefore long call should be completely avoided by safe and positional trader and can only be tried it bottom formation sign are visible, however day trader can try both long and short call depending on the price movement of the day.

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-BANK NIFTY--A TECHNICAL VIEW---7-9-2015

CNX-BANK NIFTY

Closed at 16129.10 on 4-9-2015

It is terribly bad on the technical chart and now it is down by more than 20% from the top of 20907.55, which means it has already entered into the bear market territory and the threshold limit for the same is at 16730, so if it moves above this mark and sustain then only it can come out of the bear market. You are well aware that the bear markets are very painful and witness continuous value erosion, therefore long trades are ruled out below 16730 and it should only be tried when sign of bear trend culmination are visible. Therefore as of now it is clearly sell on the rise market.

Furthermore  most of the technical parameter on daily, weekly and monthly chart indicate moderate to huge fall ahead provided bear trend continues, and if it does then it could be heading for much lower levels which could be in the range of 14338---12800. Please note that break below 12800 can drag it down to unbelievable lower levels. However in between up rallies cannot be ruled out.

One of the most important observation I want to share is that Cnx-Bank Nifty movement has huge bearing on the Cnx-Nifty's movement ,since the Bank Nifty is already in the bear market therefore it is likely that Nifty may follow suit in coming days. The threshold level for Nifty getting into bear market territory is at 7295. So watch out.

Trading Strategy

1.It is suggested to avoid long call now but those who want to ,can try above 16130 or near 15940 with a stop loss of below 16090 and 15880 respectively.

2.Sell call suggested below 16120 and below 15930 for sure with a stop loss of above 16160 and 15980 or on the rise near 16670--16730 with a stop loss of above 16800.

Support:-15933/15888/15130/14709/14338.65/13414/12738.

Resistance:-16670.55/16730/17569.80.

Remark:- Since it is in bear territory therefore long call should be avoided  below 16730 for sure instead short call can be tried at appropriate levels with an adequate 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---4-9-2015

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.