INTRA-DAY TRADING CALLS FOR 15.4.2020

TRADING CALLS

1. ADANI PORT.

Buy above -256, S/L-254, Target-265/267/274/285.

2. ASIAN PAINTS.

Buy above -1690, S/L-1679, Target-1704/1730/1750.

3. AXIS BANK.

Buy above -428, S/L-419, Target-441/447/452.

     

4. BAJAJ AUTO. (ITS CRITICAL POINT IS 2442.20)

   Buy above -2442.20, S/L-2430, Target-2525/2555/2615.

OR

Sell below-2442.20.S/L-2460,Target-2397/2350/2321

5. HDFC BANK.

 Sell below-886, S/L-896, Target-861/850/828.

6. HDFC LTD.

Sell below -1645, S/L-1656, Target-1619/1600/1587/1554.                                    

7. HINDALCO.

Buy above-112, S/L-109, Target-115/119/123.

8. ICICI BANK.

Buy above-329, S/L-333, Target-317/308/296.

9. MARUTI.

Sell below -5285, S/L-5330, Target-5200/5160/5130/5040.  

10. INDUSIND BANK.

Sell on the rise near but not above-428.50, S/L-442, Target-405/395/286/365.

OR

Sell below-386, S/L, 395, Target-365/351/335.

11. RELIANCE INDUSTRIES LTD.

Sell below-1180, S/L, 1193 Target-1160/1150/1140/1122.

                          

12. SBI.

Sell below-181, S/L-184, Target-177/175/173/171/166.

13. SUN PHARMA.

Sell below-462, S/L-470, Target-454/443/425/414.

14. TITAN.

Sell below-972, S/L-980, Target-943/927/915.

15. MARICO.

Sell below-297, S/L-303, Target-285/278/271.

16. CADILA HEALTHCARE.

Sell below-351, S/L-356, Target-334/323/310.

17. DABUR.

Buy above-481, S/L-472, Target-490/505/515.

18. TECH MAHINDRA.

Sell below-535, S/L-546, Target-521/510/490.

                       

IMPORTANT  NOTE: -- After opening watch the market for at least 30 minutes before initiating trade.

   

.                              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 favourable  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

   

                       

                     

  

                    

                            

INTRA-DAY TRADING CALLS FOR 13.4.2020

 TRADING CALLS

1. ASIAN PAINTS.

Sell near but not above -1690, S/L-1700, Target-1650/1620/1608.

2. AXIS BANK.

Buy above -428, S/L-419, Target-438/447/458.

     

3. BAJAJ AUTO.

   Buy above -2445, S/L-2430, Target-2525/2555/2615.

 4. HDFC BANK.

 Buy above-931, S/L-921, Target-945/957.

5. HDFC LTD.

Buy above -1715, S/L-1700, Target-1750/1770.                                    

6. DR.REDDY’S LAB.

Sell below -3590, S/L-3625, Target-3550/3510/370.

                                      

 7. HERO MOTOR CORP.

Buy above-2027, S/L-2005, Target-2055/2075/2095/2117.

8. HINDALCO.

Buy above-109.50, S/L-107, Target-112/115/119.

9. ICICI BANK.

Buy above-343, S/L-335, Target-348/353/365.

                                          OR

Sell below-336, S/L, 343, Target-323/314/305/294.

 10. L & T.

Sell below -804, S/L-815, Target-785/776/750.  

11. INDUSIND BANK.

Sell on the rise near but not above-428.50, S/L-442, Target-405/395/286/365.

OR

Sell below-384, S/L, 395, Target-365/351/335.

12. RELIANCE INDUSTRIES.

Buy above-1233, S/L-1215, Target-1268/1300/1327.

OR

Sell below-1193, S/L, 1205 Target-1160/1150/1110.

                           

13. INFOSYS.

Sell below-632, S/L-640, Target-619/612/604.

14. ITC LTD.

Buy above-186.25, S/L-184, Target-194/196/200/204.

15. SBI.

Sell below-189, S/L-191, Target-183/181/175.

16. SUN PHARMA.

Sell below-454, S/L-460, Target-443/436/422.

17. TITAN.

Sell on the rise near but not above-1040, S/L-1050, Target-1025/998/970.

18. BIOCON.

Sell below-330, S/L-334.50, Target-323/315/307.

19. CADILA HEALTHCARE.

Sell below-348, S/L-353, Target-330/318.

20. DABUR.

Sell below-479, S/L-486, Target-470/455/445.

  

21. SBI LIFE INSURANCE CO LTD.

Sell below-735, S/L-740, Target-721/700/690.

                       

IMPORTANT  NOTE: -- After opening watch the market for at least 40 minutes before initiating trade.

   

.                              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 favourable  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

   

                     

  

                    

                            

A TECHNICAL VIEW ON CNX--BANK NIFTY- 13.4.2020

CNX--BANK NIFTY

Open-19553.15--High-19988.30--Low-19166.90—Close-19913.60 on 9-4-2020

Support:-19812.46/19302/19144/19122.10/18793.13/18162.53/18029/17606/17248.42/16946/16116.25.

Resistance:-20010/20324.10/20443/20608/21168/21462.40/22418-469/22996.40/23605.60.

 (Bold and underlined figures are most important)                                                                       

It is in bear phase but gave a good pullback rally during the week ended on 9-4-2020; it hit a high of 20324.10 and closed at 19913.60. But this rally was not strong enough to ensure that it may last for few days. However it has bounced back above some of its short term moving averages on the daily chart, furthermore in the line chart it has made higher bottom and higher top but yet to make a higher top in the Bar chart, in fact it is far below its recent top of 21462.40 on the bar chart , therefore for this rally to continue it has to at least move above its critical point of 20010 and sustain on the closing basis then only it may be expected that the ongoing rally will last and may hit or cross the level of 20325/20608/21168 & 21462.40 else this rally may fizzle out anytime. It is important to note that to gain some strength it has to bounce back above its major rising trend line on the monthly chart which is placed at 21950-22010 for the month of April-2020. Please note that if does not move and close above the key figure of 20010 and break the level of 18946 on the closing basis then that will be the potential sign of the rally exhaustion.

Although some short term signal are slightly positive but not enough to create confidence that this up move will last, because the long term technical parameters are still very bad. Therefore long trade should be avoided till it closes above 20010. However those who wish to take chance can try long trade on decline near but not below 19225 with a stop loss of below 18920, mind you that it could be a risky trade. Similarly If it opens on the upside with gap on 13.4.2020 then short trade can be tried near but not above 20325 with a stop loss of above 20450 or if does not move above 20010 in first one and half hour of trading then short trade can be tried with a stop loss of above20100. Please note that both short & long trade seems risky at this point of time but sell trade at appropriate points seems a better option now till it gives price-wise confidence for long trade. Most importantly its chart pattern is very weak in comparison with CNX-Nifty. Therefore caution is required in the long trade.

Remark: - The trend is down and strongly bearish, the relief rally is on but in view of the above observation as of now it seems that this rally may not last. Therefore it is suggested to avoid long call till it closes above 20010 instead look for an opportunity for sell trade at this point of time. The bias is bearish

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 favourable  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 are of spot market.

Contact me for strategic guidance to enter and exit trade.

A TECHNICAL VIEW ON CNX-NIFTY---13.4.2020

CNX-NIFTY

Open-8973.05--High-9128.3—Low-8904.55—Close-9111.50 on 9.4.2020

Support:9038.90/8968.70/8842.28/8801.14/8672.07/8553/8537/8470/8336/8269/8148.50/7946.74/7893.80/7816/

Resistance:9119.20/9131.70/9269.20/9341/9390/9448.75/9520-80/9685.55/9687.55/9944.40.

 (Bold and underlined figures are most important)                                                                       

Further to my last post of 7.4.2020, it unexpectedly gave a robust pullback rally in the preceding week and hit a high of 9131.70 and ended the week near the high at 9111.50. It is very significant to note that it has made higher top and higher bottom on the line and bar chart during the week, furthermore it has decisively bounced back again above its short term moving averages on the daily chart and most importantly above its major rising trend line on the monthly chart after 15 trading sessions, which is at 9070 for the month of April-2020, therefore as long as it holds 9070 on the closing basis the ongoing rally may extend and the possible rally exhaustion or sell point could be at  9269(S/L,9300)/9390(S/L,9420)/9520/9580(S/L,9620) or else a close below 8748 may signal the end of this rally and sustained close below 8540(this figure may change after each trading day) may give a breakdown indication as of now.   

Although it is well above its short term moving averages on the daily chart but still below it on the weekly (with negative crossover) and monthly chart. It is well below its medium and long term moving averages on the daily & weekly Charts also. The technical indicators on the weekly & monthly chart are still showing huge negative divergence, so it may seek lower levels in time to come once this ongoing rally gets over. However in you view of the foregoing paragraph the ongoing rally extension cannot be ruled out, therefore those who wish to ride this rally can try long trade above 9070 with a stop loss of below 8950, or above 9132 with a stop loss of below 9070 for a target of 9269/9390/9520, but taking long trade above 9132 would be relatively safe. As you are well aware that the pullback rallies are treacherous in nature and may end abruptly so be vigilant and careful in the long trade. Short trade can be initiated near the possible sell point mentioned above; it seems that 9390 level could be a sensitive sell point or if it starts trading below but near 9070 for reasonable time period say 45 minutes in intra-day then sell with a stop loss of above 9135 for a target of 8950/8900/8842/8801. PLEASE TRAIL YOUR STOP LOSSES IN PROFITABLE TRADE.

 

 IMPORTANT NOTE: - Be alert in short trade if it trades above 9070 & 9132 and be alert in long trade if it trades below 9070.

 Remark: - It is in the bear market and the ongoing rally is a strong pullback rally and it may last for few days, so be alert in short trade for the time being but one should definitely take a short call at appropriate points as mentioned and suggested above. Since the up rally is on, so long call can be tried as suggested above with utmost care and caution. Please note that it is showing strength in comparison with CNX-Bank Nifty chart. The bias is bearish.    

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 favourable  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 are of spot market.

Contact me for strategic guidance to enter and exit trade.