CNX-NIFTY- A TECHNICAL VIEW -13-1-2017

CNX-NIFTY

Open-8391.05—High-8417.20---Low—8382.30—Close—8407.20 on

12-1-2017

Support:-8400.25/8380/8350/ 8330/8306.85/8294.95/8274.95/8259.35/8243.80/8230.65/8210.10/8185.

Resistance:- 8421.20/8433/8476.70/8506/8518/8558/8598.45.

It opened with a minor up gap but filled the gap during the day but yesterday’s gap is still there which is slightly concerning because it could still make an attempt to fill the gap in next 1-2 days time and if it does then it can come down to 8294 level. It moved in a short range today and went near its long last term moving average which is placed at 8421.20(it changes every day) for 13-1-2017 but could not cross it, however looking at its present strength it seems that eventually it may cross this mark and if it does and sustains above it then the up momentum will further accelerate, therefore till it moves above 8421.20 mark one should be extremely careful in long trade. Furthermore it moved in a short range today which indicates that it may be bracing for a big move on either side in a day or two probably corrective down move if it does not move above 8421.20 and sustain. It is therefore suggested to try fresh long call only if it moves and sustain above 8421.20 or else after a reasonable decline but not below 8294.

TRADING STRATEGY

1. Long call can be tried if it moves and  sustains above 8421.20 for some time with a stop loss of below 8380. The upside target could be 8433/8458/8477/8506--8538.  

2. Aggressive trader can try long call on decline at appropriate points  but not below 8294 with a stop loss of below 8230, it could be a risky trade but with even chances.

3. Contrarian short call can be tried, if it fails to cross 8421.20 for some time, then sell near 8421 with a stop loss of above 8440 for a target of 8400/8382/8350 or sell below 8382 with a stop loss of above 8425 for a target of 8350/8330/8306. It could be a risky trade but worth trying.

Remark: - As of now it is a buy on dip market. It is showing good strength but in view of today’s short range move and not crossing its long term moving average, long call should only be tried if it moves and sustain above 8421.20 for some time or else wait for reasonable decline to enter the market. Short call can be tried as suggested above if price pattern permits.

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.

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.

Note: Price stated here is of spot market.

Contact me for strategic guidance to enter and exit  trade.

CNX-NIFTY- A TECHNICAL VIEW -12-1-2017

CNX-NIFTY

Open-8327.80—High-8389---Low—8322.25—Close—8380.65 on

11-1-2017

Support:-8380/8350/ 8330/8306.85/8294.95/8274.95/8259.35/8243.80/8230.65/8210.10/8185.

Resistance:-8380/ 8400.25/8433/8476.70/8506/8518/8558/8598.45.

It opened with an up gap and steadily moved up during the day and closed near the high of the day with a gain of 92.05 points.  It is showing good strength and the momentum will further accelerate once it move and sustain above its last long term moving average which is placed at 8421(it changes every day) for 12-1-2017. It may face some resistance at 8421 level but the way it is moving up it seems that eventually it will cross this level; however one should be slightly careful in long trade around this point. There is no doubt that it is buy on dip market now therefore every reasonable decline should be used for buying but not below 8270 as of now.

It is very important to mention here that  it made no effort to fill the today’s gap ,so if it comes down to fill the gap in next 2-3 trading session which is technically possible ,in that case it could come down to 8294 level,so be watchful and do not hurry to initiate long trade on the opening bell, furthermore if it opens with an up gap i.e. above 8390 on 12-1-2017 then for sure do not jump on to initiate long trade immediately,  instead watch the market for some time and let it settles down then take your trading call. Please note that if it consistently starts trading below 8380 then it could correct, so long call below 8380 should be avoided and tried after reasonable decline. 

I once again reiterate that as long as it is above its benchmark points of 8210.10 & 8185.80 for the year 2017 there is no serious threat to the uptrend, however it could witness in between down correction moving up.

TRADING STRATEGY

1. Long call can be tried if it sustains above 8381fo some time with a stop loss of below8350. The upside target could be 8421/8433/8458/8477/8506--8538.  

2. Aggressive trader can try long call on decline at appropriate points  but not below 8273 with a stop loss of below 8230, it could be a risky trade but with even chances.

Remark: - As of now it is a buy on dip market. It is showing good strength but be careful in long trade as it is approaching its tough resistance point of 8421. Long trade is recommended but as suggested above.

Disclaimer:-The view expressed here are solely of the author and he is not at all responsible in any way for the outcome of the trade you enter based on the above view.

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.

Note: Price stated here is of spot market.

Contact me for strategic guidance to enter and exit  trade.

TRADING CALLS FOR 12-1-2017

TRADING CALLS

1. ACC.

Buy above-1354, S/L-1347, Target-1360/1385/1405.

2. AMBUJA CEMENT.

Buy above-216.50, S/L-215, Target-218.20/222/227.

      

3. BAJAJ AUTO.

Sell below -2707, S/L-2720, Target-2685/2628/2615.

                                       

4. BEL.

Buy above-1528, S/L-1517, Target-1600/1640.

5. BHARAT FORGE.

Buy above-960, S/L-950, Target-978/1008.

6. BRITANIA.

Buy above-2975, S/L-2960, Target-2997/3021/3062.

     

7. GLENMARK PHARMA.

Sell below -901, S/L-909, Target-886/880/877/860.

8. RELIANCE IND

Sell below -1084, S/L-1090, Target-1071/1064/1050.  

   

.                              Note: Price stated here is of spot market.   

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.

 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.                       

 Contact me for strategic guidance to enter and exit the trade

                       

                     

  

                    

                            

CNX--BANK NIFTY-A TECHNICAL VIEW 12-1-2017

CNX--BANK NIFTY

Closed at 18830 on 11-1-2017(Open-18535.35/High-18889.45/Low-18515.25)

Support:-18824.40/17739.65/18713.60/18551/18537/18532/18443.65/ 18325.50/18316.25/18242.10/18177.20/18143.70/17952.60.

Resistance:- 18961.15/19059/19096.70/19125/19158/19493.50.

It opened with an up gap and exhibited exhilarating strength and moved up by around 450 points intra-day and ended the day with a whooping gain of 420.40 points. It crossed its recent important top of 18739.65 and also moved above its last long term moving average intra-day, which is placed at 18855(it changes every day) for 12.1.2017 but could not close above it. Please note that sustained close above its last long term moving average i.e. 18855 for 12-1-2017 will further accelerate the up momentum.  Although it is showing good strength but it has also moved up vertically by more than 1000 points in last 5 days so the vulnerability for short down correction also increases, therefore one should be very careful in long trade at this juncture.  There is no doubt that it is buy on dip market now therefore every reasonable decline should be used for buying but not below 18441 as of now.

It is very important to mention here that  it made no effort to fill the today’s gap ,so if it comes down to fill the gap in next 2-3 trading session which is technically possible ,in that case it could come down to 18441 level, so be watchful and do not hurry to initiate long trade on the opening bell, furthermore if it opens with an up gap i.e. above 18890   on 12-1-2017 then for sure do not jump on to initiate long trade immediately instead watch the market for some time and let it settles down then take your trading call. Please note that if it consistently starts trading below 18830 then it could correct, so long call below 18830 should be avoided and tried after reasonable decline.  

I once again reiterate that as long as it is above its benchmark points of 18242.30 & 18177.20 for the year 2017 there is no serious threat to the uptrend, however it could witness in between down correction moving up.

 TRADING STRATEGY

1. Long call can be tried if it moves and sustain above 18855 for some time with a stop loss of below 18800. The upside target could be 18963/19060/19125/19158/19494.

2. Aggressive trader can try long call on decline at appropriate points but not below 18444 with a stop loss of below 18370.

Remark: - As of now it is a buy on dip market, but since it had a huge vertical rise therefore it looks vulnerable for a down correction for a day or two any time, however long call can be tried as suggested above but it is advised to handle your trade with caution.

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.

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.

                                                                                     

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

CNX--BANK NIFTY-A TECHNICAL VIEW 11-1-2017

CNX--BANK NIFTY

Closed at 18409.60 on 10-1-2017(Open-18351.45/High-18441.15/Low-18275.75)

Support:- 18325.50/18316.25/18242.10/18177.20/18143.70/17952.60/17910.80/17829/17606.

90/17425.80/17350.45/16946.05/16431.65/16368/16186/15762.

Resistance:- 18443.65/18532/18537/18551/18713.60/17739.65/18824.40/18961.15/19059/19096.70/19125/19158/19493.50.

It has given vertical rise of 550 points intra-day in last 4 days and still showing strength but in view of the straight rise chance of it correcting from here is also reasonably bright, therefore long call should be handled vigilantly and with caution. No doubt it is buy on dip market now till it holds its critical benchmark points of 18242.30 & 18177.20 for the year 2017(see my earlier post).

 TRADING STRATEGY

1. Long call can be tried if it sustain above 18410 for some time with a stop loss of below 18310. The upside target could be 18444/18473/18513—18551/.

2. Aggressive trader can try long call on decline also but not below 18275 with a stop loss of below 18240.

Remark: - As of now it is a buy on dip market but since it had vertical rise it may correct any time, however long call can be tried as suggested above but it is advised to exercise some caution. Avoid long call below 18242.30 and below 18177.20 for sure.

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.

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.

                                                                                      

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

CNX-NIFTY- A TECHNICAL VIEW -11-1-2017

CNX-NIFTY

Open-8262.70—High-8293.80---Low—8261—Close—8288.60 on

10-1-2017

Support:-8274.95/8259.35/8243.80/8230.65/8210.10/8185.80/8162/8133.80/8077/8060/8056/8002/7992/7988/7940/7927.05/7916.40/ 7897/7893.80/7715.80/7678.35/7644/7615.85/7405.15.

Resistance:- 8294.95/8306.85/8330/8400.25/8433/8476.70/8506/8518/8558/8598.45.

After showing slackness for two days, it showed strength again today and it is needless to mention that it is still making higher top & bottom on the line chart as well as on the bar chart, so no doubt it is buy on decline market till it closes below 8236 and breaks 8223.70 on the bar chart. As you are already aware that the benchmark points for the year 2017 are 8210.10 & 8185.80(see my earlier post), therefore get alerted in long position if any and avoid fresh long trade below 8210.10 for sure and exit trade if it consistently started trading below 8185.80.  

TRADING STRATEGY

1. Long call can be tried above 8289 with a stop loss of below 8255 and can add on position if it moves and sustain above 8307 with a stop loss of below 8270 for added position. The upside target could be 8338/8380/8421.

2. Aggressive trader can try long call on decline also but not below 8260 with a stop loss of below 8230, it could be a risky trade but with even chances.

Remark: - As of now it is a buy on dip market and it showed strength today, so it may resume the up move from here, therefore long call can be tried as suggested above.

Disclaimer:-The view expressed here are solely of the author and he is not at all responsible in any way for the outcome of the trade you enter based on the above view.

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.

Note: Price stated here is of spot market.

Contact me for strategic guidance to enter and exit  trade.

CNX-NIFTY- A TECHNICAL VIEW -10-1-2017

CNX-NIFTY

Open-8259.35—High-8263---Low—8227.75—Close—8236.05 on

9-1-2017

Support:-8230.65/8210.10/8185.80/8162/8133.80/8077/8060/8056/8002/7992/7988/7940/7927.05/7916.40/ 7897/7893.80/7715.80/7678.35/7644/7615.85/7405.15.

Resistance:- 8274.95/8294.95/8306.85/8400.25/8476.70/8506/8518/8558/8598.45.

The broad observation remains the same (see my post of 9-1-2017) and it still looks fatigued therefore either it could spend some time here or correct from here before resuming the up move again. It is therefore suggested to follow almost the same trading strategy of 9-1-2017 with some change on 10-1-2017.

TRADING STRATEGY

1. It would be safe to try long call if it moves and sustain above 8275 with a stop loss of below 8230 and can add on position if it moves and sustain above 8307 with a stop loss of below 8255 for added position. The upside target could be 8338/8380/8421.

2. Aggressive trader can try long call on decline also but not below 8217 with a stop loss of below 8180, it could be a risky trade but with even chances.

3. Although it is a buy on dip market now but since it is looking tired and may correct from here therefore a contrarian short call can be tried near but not above 8275 only if it fails to cross the said level for at least first one and half hour of trade with a stop loss of above 8307, it could be a highly risky trade but worth trying. The downside target could be 8243/8233/8217/8210/8195/8185/8133 or can try sell call if it maintains below 8243 with a stop loss of above 8275. Try sell call  below 8210 and below 8150 for sure.

Remark: - As of now it is a buy on dip market but it could still correct from here before moving up again therefore it advised to exercise some caution in long trade. Avoid long call below 8210.10 and below 8185 for sure. If price movement permits short call could be worth trying as suggested for taking advantage of in between down correction.

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.

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.

Note: Price stated here is of spot market.

Contact me for strategic guidance to enter and exit  trade.

TRADING CALLS FOR 10-1-2017

TRADING CALLS

1. ASIAN PAINTS.

Sell below-906, S/L-912, Target-895/891/882/869.

      

2. AUROBINDO PHARMA.

Sell below -692, S/L-697, Target-680/664/661.

3. DR.REDDY LAB.

Sell below -3060, S/L-3080, Target-3050/3012/2979/2960/2951.

                                       

4. SEIMENS

Sell below -11145, S/L-1152, Target-1120/1106/1100/1086.  

   

.                              Note: Price stated here is of spot market.   

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.

 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.                       

 Contact me for strategic guidance to enter and exit the trade

                                    

                       

                     

  

                    

                            

CNX--BANK NIFTY-A TECHNICAL VIEW 10-1-2017

CNX--BANK NIFTY

Closed at 18286.65 on 10-6-1-2017(Open-18316.25/High-18373.10/Low-18256.15)

Support:-18242.10/18177.20/18143.70/17952.60/17910.80/17829/17606.

90/17425.80/17350.45/16946.05/16431.65/16368/16186/15762.

Resistance:- 18325.50/18443.65/18532/18537/18551/18713.60/17739.65/18824.40/18961.15/19059/19096.70/19125/19158/19493.50.

The broad observation remains the same (see my post of 9-1-2017). Although it closed on a positive note today but its movement looked a bit stressed therefore it may correct from here before moving up again. It is therefore suggested to follow almost the same trading strategy of 9-1-2017 with slight difference in figures on 10-1-2017.

  TRADING STRATEGY

1. Long call can be tried if it sustain above 18326 for some time with a stop loss of below 18250. The upside target could be 18370/18444/18473/18513.

2. Aggressive trader can try long call on decline also but not below 18242 with a stop loss of below 18170 or near but not below 18097 with a stop loss of below 18000, it could be a risky trade.

3. Contrarian short call can be tried for an expected down correction if it moves below 18242 and sustain with a stop loss of above 18330 for a target of 18177/8143/17952.

Remark: - As of now it is a buy on dip market but it looked stressed today and may correct from here before resuming up move again, therefore it is advised to exercise some caution in long trade and it is suggested to try long trade only above 18326. Avoid long call below 18242.30 and below 18177.20 for sure.

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.

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.

                                                                                     

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

CNX-NIFTY- A TECHNICAL VIEW -9-1-2017

CNX-NIFTY

Open-8281.85—High-8306.85---Low—8233.25—Close—8243.80 on

6-1-2017

Support:-8230.65/8210.10/8185.80/8162/8133.80/8077/8060/8056/8002/7992/7988/7940/7927.05/7916.40/ 7897/7893.80/7715.80/7678.35/7644/7615.85/7405.15.

Resistance:- 8274.95/8294.95/8306.85/8400.25/8476.70/8506/8518/8558/8598.45.

It steadily moved up during the week and made a high of 8306.85 on the last day of the week but slipped down to close with a small weekly gain of 58 points. It rallied by more than 400 points from 7893.80 to 8306.85 in nine trading days but with today’s close it showed some sign of fatigue therefore it seems that it may correct further from here; however it is still a buy on dip market now as it is making higher top (recent top 8273.80) and bottom(recent bottom 8190.50) on the line chart and making higher highs and higher lows on the bar chart, furthermore it is above its short term moving averages now and also above its lower band of long term moving averages range which is between 8217.67---8421(it changes every day). Please note that it will firm up once it moves above 8421 and sustain. However as long as it holds it’s lower band of long term moving i.e. 8217.67(it changes every day) the up move may continue, here it is important to mention that its most critical benchmark points for the year 2017 are 8210.10 & 8185.80, therefore be circumspect in long trade if it consistently starts trading below these points because sustained break below it may lead to a fresh down move, similarly be alert in short trade above these points.

In view of the above observation the range of 8217—8210.10---8190.50--8185 is a very good support for it. Therefore as long as it holds this range  on the closing basis the on-going rally may continue but it will gain good strength only if it moves and sustain above 8421(it changes every day). I Would therefore suggest to avoid long call if it sustain below 8185 till it bounce back above 8210.10 again in fact above its lower band of long term moving average which is at 8217.67 (it changes every day) for 9-1-2017. 

TRADING STRATEGY

1. In view of today’s movement it would be safe to try long call if it moves and sustain above 8275 with a stop loss of below 8230 and can add on position if it moves and sustain above 8307 with a stop loss of below 8265 for added position. The upside target could be 8338/8380/8421.

2. Aggressive trader can try long call on decline also but not below 8217 with a stop loss of below 8180, it could be a risky trade but with even chances.

3. Although it is a buy on dip market now but looking at today’s move a contrarian short call can be tried near but not above 8275 only if it fails to cross the said level for at least first one and half hour of trade with a stop loss of above 8307,it could be a highly risky trade but worth trying. The downside target could be 8243/8233/8217/8210/8195/8185/8133.

Remark: - As of now it is a buy on dip market but with today’s movement it advised to exercise some caution in long trade because it may correct further here before resuming the up move again. Avoid long call below 8210.10 and below 8185 for sure. If price movement permits short call could be worth trying.

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.

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.

Note: Price stated here is of spot market.

Contact me for strategic guidance to enter and exit  trade.

CNX--BANK NIFTY-A TECHNICAL VIEW 9-1-2017

CNX--BANK NIFTY

Closed at 18264 on 6-1-2017(Open-18168.45/High-18325.50/Low-18157.80)

Support:-18242.10/18177.20/18143.70/17952.60/17910.80/17829/17606.

90/17425.80/17350.45/16946.05/16431.65/16368/16186/15762.

Resistance:- 18325.50/18443.65/18532/18537/18551/18713.60/17739.65/18824.40/18961.15/19059/19096.70/19125/19158/19493.50.

It had an erratic movement during the week but finally ended the week with a small gain of 86.80 points over the previous week.  Its rise has not been that smooth as compare to Nifty but any way it still seems to be a buy on dip market as of now. In this context it is important to mention here that 18177.20 & 18242.30 are its most critical and important benchmark points for the year 2017, therefore be circumspect in long trade if it consistently starts trading below these points because sustained break below it may lead to a fresh down move, similarly be alert in short trade above these points. Please note that since it has crossed and closed above its benchmark points today only, therefore it has to be seen whether it sustains above it or not in next 3-4 days and if it does  then this rally may continue. Furthermore it is also above its lower band of long term moving averages range which is between 18082—18847(it changes every day) therefore even if it breaks its benchmark point of 18242.30 & 18177.20 but as long as it holds its lower band of long term moving average chances are that it may bounce back from there and may the cross the benchmark points also and this rally may continue. But it is suggested to avoid long trade below 18242.30 and below 18177.20 for sure till it bounces back above 18242.30 again and sustain.

                                                   TRADING STRATEGY

1. Long call can be tried if it sustain above 18264 for some time with a stop loss of below 18230 and can add on position if it moves and sustain above 18326 with a stop loss of below 18290. The upside target could be 18370/18444/18473/18513.

2. Aggressive trader can try long call on decline also but not below 18177 with a stop loss of below 18130 or near but not below 18082 with a stop loss of below 18000, it could be a risky trade but with even chances.

Remark: - As of now it is a buy on dip market but since it closed above its benchmark point of 18177.20 & 18242.30 today only but not comfortably above it and may slip below these points also, therefore it is advised to exercise some caution in long trade and it is suggested to try long trade above 18264. Avoid long call below 18242.30 and below 18177.20 for sure. 

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.

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.

                                                                                     

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