A TECHNICAL VIEW ON CNX-NIFTY FOR –14.8.2020

 

A TECHNICAL VIEW ON CNX-NIFTY FOR –14.8.2020

Open-11334.85--High-11359.30—Low-11269.95—Close-11300.45 on 13.8.20203

Support:11270/11239.80/11171.55/11158/11114/11056.55/10991/10894.05/10882/10847.85/10676.55/10583.65/10562.90.

Resistance:11341.40/11378/11447.

Critical Points moving down: -11270----11257.64----11239.80---11171.55---11158.

Critical Points moving up: -11341.40---11378---11447.

 (Bold and underlined figures are most important)

It is showing some sign of fatigue as it has not been able cross it s critical point of 11341.40 & 11378 on the closing basis, but the technical setup is good. Please note that if it fails to surpass these points in next few days then chances of heading down may enhance.

Please note that the view and observation in my post for 13.8.2020 will be valid for 14.8.2020 trading session also except for some change in trading strategy. 

NOTE: - If it opens up with huge gap up then wait for it to settle down before initiating long position, but short trade can be attempted on huge gap up if it is near the selling point and vice versa . Since, it is showing volatility so any type of trade should be squared off during the day, if you don’t have reasonable profit margin in the trade. Day squaring off is strongly suggested in any case.

TRADING STRATEGY

1. Buy on decline near but not below 11258 with a stop loss of 11230.

2. Sell on the rise near or within the range of 11390---11430 with a stop loss of 11480.It could be a risky trade but worth trying.

Or

Sell if it maintains below 11230 or fall below it at any point of time during the day and stay below it for some time with a stop loss of 11280. It could be a risky trade but 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 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.

 

 Thanks 

Narendra Kumar Surana

suranank@gmail.com

Mobile—8240951127/9831313654.

 

 

A TECHNICAL VIEW ON CNX--BANK NIFTY FOR –14.8.2020

 

CNX--BANK NIFTY

Open-22395.20--High-22439.95--Low-22147.65—Close-22196.25 on 13.8.2020

Support:22122/21967/21807/21768/21611.40/21546/21536/21462.40/21122.10.

Resistance:22378/22418/22479.85/23080.60/23211.35/23235/23440.

Critical Points moving up: 22378---22418---22479.85---22697---22775.

Critical Points moving down:-22122----21865---21536---21464---21375.

(Bold and underlined figures are most important)

As envisaged it slightly corrected today. It has been moving in a short range for few days, therefore it seems that a big move may be in store for it on the either side, sustained break above the range of 22710(it will change)—22775 will take it up much faster, similarly sustained break below 21537 may push it into correction mode, which may please be noted.

Please note that the view and observation in my post for 13.8.2020 will be valid for 14.8.2020 trading session also except for some change in trading strategy.

NOTE: - If it opens up with huge gap up then wait for it to settle down before initiating long position, but short trade can be attempted on huge gap up if it is near the selling point and vice versa . Since, it is showing volatility so any type of trade should be squared off during the day, if you don’t have reasonable profit margin in the trade. Day squaring off is strongly suggested in any case.

TRADING STRATEGY

1. Buy on decline but not below 21990 with a stop loss of 21850.

2. Sell if it moves below 21990 and maintain for some time with a stop loss of 22130.

Or

Sell on the rise near or within the range of 22700---22800 with a stop loss of 22900. It could be a risky trade but 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 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.

 

Thanks 

Narendra Kumar Surana

suranank@gmail.com

Mobile—8240951127/9831313654.

 

A TECHNICAL VIEW ON CNX-NIFTY FOR –13.8.2020

 

CNX-NIFTY

Open-11289--High-11322—Low-11242.62—Close-11308.40 on 12.8.20203

Support:11270/11239.80/11171.55/11158/11114/11056.55/10991/10894.05/10882/10847.85/10676.55/10583.65/10562.90.

Resistance:11341.40/11378/11447.

Critical Points moving down: -11270----11257.64----11239.80---11171.55---11158.

Critical Points moving up: -11341.40---11378---11447.

 (Bold and underlined figures are most important)

It is still holding its critical point of 11270 on the closing basis, which is a positive sign. But it has not been able to surpass its critical resistance point of 11341.40 & 11378 on the closing basis, which is slightly concerning, however if it holds 11270 level on the closing basis then it is likely to clear the said hurdle in coming days. It is important to mention here that apart from 11270 it has two more critical supports at 11257.64(it can change) & 11239.80 and sustained break below these points could push it into corrective mode.

In view of the above observation long trade can be tried on decline but not below 11270 or if it moves and maintain above 11341.40 for some time. Short trade can also be attempted if it breaks 11230 levels and sustain below it for some time or attempt it after a reasonable rise in the appropriate range for taking advantage of the possible corrective move. Please note that overall it is buy on the decline market for now but since 11270—11447 is a make or break range, hence shot trade is suggested. One should be extremely cautious and alert in both side of trades in this range.

NOTE: - If it opens up with huge gap up then wait for it to settle down before initiating long position, but short trade can be attempted on huge gap up if it is near the selling point and vice versa . Since, it is showing volatility so any type of trade should be squared off during the day, if you don’t have reasonable profit margin in the trade. Day squaring off is strongly suggested in any case.

TRADING STRATEGY

1. Buy on decline but not below 11270 with a stop loss of 11230.

Or

Buy if it moves and maintain above 11341.40 for some time with a stop loss of 11300. It could be a risky trade.

2. Sell on the rise near or within the range of 11430---11450 with a stop loss of 11480.It could be a risky trade but worth trying.

Or

Sell if it maintains below 11230 or fall below it at any point of time during the day and stay below it for some time with a stop loss of 11280. It could be a risky trade but 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 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.

 

 Thanks 

Narendra Kumar Surana

suranank@gmail.com

Mobile—8240951127/9831313654.

 

 

A TECHNICAL VIEW ON CNX--BANK NIFTY FOR –13.8.2020

 

CNX--BANK NIFTY

Open-22135.95--High-22326.55--Low-21990—Close-22264 on 12.8.2020

Support:22122/21967/21807/21768/21611.40/21546/21536/21462.40/21122.10.

Resistance:22378/22418/22479.85/23080.60/23211.35/23235/23440.

Critical Points moving up: 22378---22418---22479.85---22697---22775.

Critical Points moving down:-22122----21865---21536---21464---21375.

(Bold and underlined figures are most important)

It is well above its critical points of 21537 & 21546 and it is steadily moving up, which is a good sign. But it has been moving up for straight 7 days therefore it looks slightly vulnerable for correction also and it looks imminent, but it could still move up a bit before correction and moving up it will face resistance at 22378---22418---22697---22775 levels and it may gain some strength for the up momentum if it moves and maintain above 22418 on the closing basis. It is important to mention here that sustained break above the range of 22740(it can change) ---22775 on the closing basis can take it up much faster.

In view of the above observation long trade can be tried on decline near but not below 21936 or can be tried if it moves and maintain above 22379 for some time. The technical setup is o.k. but not that strong as of now in comparison with Nifty-50, furthermore in light of 7 days straight rise traders should be extremely alert and cautious in the long trade because it could correct any moment. Short trade can also be attempted if it breaks 21936 levels and sustain below it for some time or attempt it after a reasonable rise in the appropriate range for taking advantage of the possible corrective move.

NOTE: - If it opens up with huge gap up then wait for it to settle down before initiating long position, but short trade can be attempted on huge gap up if it is near the selling point and vice versa . Since, it is showing volatility so any type of trade should be squared off during the day, if you don’t have reasonable profit margin in the trade. Day squaring off is strongly suggested in any case.

TRADING STRATEGY

1. Buy on decline but not below 21936 with a stop loss of 21800.

Or

Buy if moves and maintains above 22379 for some time with a stop loss of 22250.It could be a risky trade.

 

2. Sell if it moves below 21936 and maintain for some time with a stop loss of 22070.

Or

Sell on the rise near or within the range of 22750---22800 with a stop loss of 22900. It could be a risky trade but 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 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.

 

Thanks 

Narendra Kumar Surana

suranank@gmail.com

Mobile—8240951127/9831313654.

 

A TECHNICAL VIEW ON CNX-NIFTY FOR –12.8.2020

 

CNX-NIFTY

Open-11322.25--High-11373.60—Low-11299.15—Close-11322.50 on 11.8.20203

Support:11270/11239.80/11171.55/11158/11114/11056.55/10991/10894.05/10882/10847.85/10676.55/10583.65/10562.90.

Resistance:11341.40/11378/11447.

Critical Points moving down: -11270----11239.80---11171.55---11158.

Critical Points moving up: -11341.40---11378---11447.

 (Bold and underlined figures are most important)

It tried to clear its resistance point of 11341.40--- 11378 today but at the end closed below it, however it is above its critical point of 11270 which is a positive sign. The technical setup is still good for continuation of the up move provided it holds 11270 on the closing basis.

Please note that my views and observation in my post for 11.8.2020 will be valid for 12.8.2020 trading session also except for some changes in trading strategy.

NOTE: - If it opens up with huge gap up then wait for it to settle down before initiating long position, but short trade can be attempted on huge gap up if it is near the selling point and vice versa . Since, it is showing volatility so any type of trade should be squared off during the day, if you don’t have reasonable profit margin in the trade. Day squaring off is strongly suggested in any case.

TRADING STRATEGY

1. Buy on decline but not below 11270 with a stop loss of 11230.

2. Sell on the rise near or within the range of 11430---11450 with a stop loss of 11480.It could be a risky trade but worth trying.

Or

Sell if it maintains below 11230 or fall below it at any point of time during the day and stay below it for some time with a stop loss of 11280. It could be a risky trade but 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 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.

 

 Thanks 

Narendra Kumar Surana

suranank@gmail.com

Mobile—8240951127/9831313654.

 

 

A TECHNICAL VIEW ON CNX--BANK NIFTY FOR –12.8.2020

 

CNX--BANK NIFTY

Open-22050.20--High-22277.60--Low-22039.85—Close-22227.30 on 11.8.2020

Support:22122/21967/21807/21768/21611.40/21546/21536/21462.40/21122.10.

Resistance:22378/22418/22479.85/23080.60/23211.35/23235/23440.

Critical Points moving up: 22378---22418---22479.85---22697---22775.

Critical Points moving down:-22122----21865---21536---21464---21375.

(Bold and underlined figures are most important)

Please note that my views and observation in my post for 11.8.2020 will be valid for 12.8.2020 trading session also except for some changes in trading strategy. It is important to note that it may pick up strong up momentum once it moves and maintain above 22775(it can change) on the closing basis.

NOTE: - If it opens up with huge gap up then wait for it to settle down before initiating long position, but short trade can be attempted on huge gap up if it is near the selling point and vice versa . Since, it is showing volatility so any type of trade should be squared off during the day, if you don’t have reasonable profit margin in the trade. Day squaring off is strongly suggested in any case.

TRADING STRATEGY

1. Buy on decline but not below 21936 with a stop loss of 21800.

Or

Buy if moves and maintains above 22278 for some time with a stop loss of 22190.It could be a risky trade but worth trying.

 

2. Sell if it moves below 21900 and maintain for some time with a stop loss of 22070.

Or

Sell on the rise near or within the range of 22700---22800 with a stop loss of 22900. It could be a risky trade but 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 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.

 

Thanks 

Narendra Kumar Surana

suranank@gmail.com

Mobile—8240951127/9831313654.

 

A TECHNICAL UPDATE ON DOW JONES INDUSTRIAL AVERAGE –11.8.2020

 

DOW JONES INDUSTRIAL AVERAGE

Open-27488.21--High-27803.86—Low-27488.21—Close-27791.44 on 10.8.2020.

Support:27580.21/27297.59/27095/27025.38/26625.46/26611.03/26297.53/25992.28/25523.51/25369.75.

Resistance:28090/28174.97/28376.49/28872.80/29373.62/29568.57.

(Bold and underlined figures are most important)

Further to my post of 2.8.2020 it has given upside breakout on 6.8.2020 from the range of 25369.75----27297.69 and it is not only maintaining above 27297.65 level for the last three days but  has also crossed its recent high of 27580.21 yesterday which it made on 8.6.2020 , which shows extraordinary strength in it. Please note that 27297.59 is the benchmark level for it and if it holds this level then chances are that it could retest its all time high of 29568.57 or may go beyond also. But moving up it will face stiff resistance at 27997----28355----28783----29211 levels and it is a possibility that it may retreat from any of these levels too, so be watchful. The technical setup is strong and indicates up move may continue off course with intermittent correction. In it important to mention here that it will only weaken if it breaks 27297.59 levels and sustain on the closing basis.

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.

 Thanks 

Narendra Kumar Surana

suranank@gmail.com

Mobile—8240951127/9831313654.

 

 

A TECHNICAL VIEW ON CNX-NIFTY FOR –11.8.2020

 

CNX-NIFTY

Open-11270.25--High-11337.30—Low-11238—Close-11270.15 on 10.8.20203

Support:11270/11239.80/11171.55/11158/11114/11056.55/10991/10894.05/10882/10847.85/10676.55/10583.65/10562.90.

Resistance:11270/11341.40/11378/11447.

Critical Points moving down: -11270----11239.80---11171.55---11158.

Critical Points moving up: -11341.40---11378---11447.

 (Bold and underlined figures are most important)

It went near its recent high of 11341 today, but could not cross it and slipped down but the good thing is that it has closed shade above its critical point of 11270 and if it sustain above it on the closing basis, then it could possibly hit the level of 11447. Moving up to the stated level it could face resistance at 11341.40--- 11378 levels but if it manages to hold 11270 mark then it will clear the said resistances levels in all likelihood. It is on the sound technical footing for now therefore it seems that the further up move is ahead, off course with intermittent correction.

In view of the above observation long trade can be tried now or on decline but not below 11240. Short trade can also be attempted if it breaks 11230 levels and sustain below it for some time or attempt it after a reasonable rise in the appropriate range for taking advantage of the possible corrective move. Please note that overall it is buy on the decline market for now but since 11270—11447 is a make or break range, hence shot trade is suggested. One should be extremely cautious and alert in both side of trades in this range.

NOTE: - If it opens up with huge gap up then wait for it to settle down before initiating long position, but short trade can be attempted on huge gap up if it is near the selling point and vice versa . Since, it is showing volatility so any type of trade should be squared off during the day, if you don’t have reasonable profit margin in the trade. Day squaring off is strongly suggested in any case.

TRADING STRATEGY

1. Buy on decline but not below 11240 with a stop loss of 11220.

Or

Buy if it maintains above 11270 with a stop loss of 11230.

2. Sell on the rise near or within the range of 11380---11420 with a stop loss of 11470.It could be a risky trade but worth trying.

Or

Sell if it maintains below 11230 or fall below it at any point of time during the day and stay below it for some time with a stop loss of 11280. It could be a risky trade but 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 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.

 

 Thanks 

Narendra Kumar Surana

suranank@gmail.com

Mobile—8240951127/9831313654.

 

 

A TECHNICAL VIEW ON CNX--BANK NIFTY FOR –11.8.2020

 

CNX--BANK NIFTY

Open-21824.90--High-22071.95--Low-21795.10—Close-21900.25 on 10.8.2020

Support:21807/21768/21611.40/21546/21536/21462.40/21122.10/21031.45/21026/20926/20501/20324.

Resistance:21967/22378/22418/22479.85/23080.60/23211.35.

Critical Points moving up: 22122----22378---22418---22479.85---22697---22775.

Critical Points moving down:-21865---21536---21464---21375---21027---20926.

(Bold and underlined figures are most important)

It is holding its critical point of 21537 & 21546(it can change) which is a good sign and if it continues to holds these points then the up move may continue off course with intermittent correction. Moving up it will face resistance at 21936---22121---22378---22697---22775 levels and it may gain some strength for the up momentum if it moves and maintain above 22418. Please note that sustained break below its critical points of 21537 & 21546(it can change) levels can push it into corrective mode again.

 In view of the above observation long trade can be tried on decline near but not below 21546 or can be tried if it moves and maintain at least above 21936 for some time. The technical setup is not that strong as of now in comparison with Nifty-50, therefore traders should be extremely alert and cautious in the long trade. Short trade can also be attempted if it breaks 21537 levels and sustain below it for some time or attempt it after a reasonable rise in the appropriate range for taking advantage of the possible corrective move.

NOTE: - If it opens up with huge gap up then wait for it to settle down before initiating long position, but short trade can be attempted on huge gap up if it is near the selling point and vice versa . Since, it is showing volatility so any type of trade should be squared off during the day, if you don’t have reasonable profit margin in the trade. Day squaring off is strongly suggested in any case.

TRADING STRATEGY

1. Buy on decline but not below 21546 with a stop loss of 21430.

Or

Buy if moves and maintains above 21936 for some time with a stop loss of 21780.It could be a risky trade but worth trying.

 

2. Sell if it moves below 21537 and maintain for some time with a stop loss of 21650.

Or

Sell on the rise near or within the range of 22450---22550 with a stop loss of 22650. It could be a risky trade but 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 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.

 

Thanks 

Narendra Kumar Surana

suranank@gmail.com

Mobile—8240951127/9831313654.

 

A TECHNICAL VIEW ON CENTURY TEXTILES LTD—10.8.2020

 

CENTURY TEXTILES LTD

Open-303.60--High-325.70--Low-303.30—Close-323.70 on 7.8.2020

Support:308.50/300/298.75/293.30/292.50/290/278.60/275.15.

Resistance:327.80/332.90/352.75/357/382.10/400.50/468.

Critical Points moving up:--332.90 is the breakout point sustained close above can take it higher.

Critical Points moving down:--290, sustained break below it may drag it down.

(Bold and underlined figures are most important)

It was moving sideways for quite some time in the range of 317.05---290.10 and it gave price and volume breakout from this range on 7.8.2020, but the major breakout will happen once it crosses 332.90 marks. However, yesterday breakout has given a distinct signal that the major breakout may happen in coming days and it could move up sharply. Therefore long trade can be tried on decline but not below 312 with a stop loss of 307 or buy if it moves and maintains above 325.70 with a stop loss of 322 or buy after it gives major break out above 332.90 and sustain with a stop loss of 327. The possible target after the major breakout could be 357—368---382---400.

In view of the above observation short term investors can buy on decline but not below 312 with a slightly longer stop loss of 301. Traders can also buy on decline but not below 312 with a stop loss of 307, but in this trade it can still move sideways for few days before moving up, so traders may feel insecure, but buying above 332.90 could take it up much faster. Therefore investor and traders can initiate long trade call as per their risk appetite and patience. The technical parameters as of now indicate that the up move is ahead. Please note that it is purely a technical buy call. DO NOT TRADE OR INVEST WITHOUT STOP LOSS

NOTE: - It is the technical assessment of the stock as of now, the technical interpretation changes with the price movement and time, therefore investors are advised to look into fundamental, financial details of the company and last but not the least management perception for the future of the company before taking investment decision.

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.

 

Thanks 

Narendra Kumar Surana

suranank@gmail.com

Mobile—8240951127/9831313654.