A TECHNICAL VIEW ON CNX-NIFTY FOR—19.11.2020

 

CNX-NIFTY

 Open—12860.10--High—12948.85—Low—12819.35---Close-12938.25 on 18.11.2020.

Support:12934.05/28818/12769.75/12430.50/12328/12294/12283/12246.70/12178/12159/12103.05/12041.15/12025.45/11981.75/11929.60/11841.30/11832.30/11803/11794.25/11775.75/11761/ 11665/11661/11633/11618.10/11614/11584/11535.45/11507.65/11490.75/11460.35/11447.         

Resistance: 13032/13294/13419/13611/13640/1377914334/15043.

 (Bold and underlined figures are most important)

It is exhibiting extraordinary power in the up move therefore the up journey is likely to continue in coming days with in between down correction. Furthermore it is well above its key points of 12868.30---12615.30---12430.50---12439.40---11665.50, (except for 12430.50 other figures can change), which speaks of tremendous strength. Kindly note that break below 12868.30 on the closing basis can put it into very short correction, sustained break below 12615.30 on the closing basis will push it into short term correction mode, sustained break below 12430.50 will indicate that it could lose steam for the up move, sustained break below 12439.40 will push it into medium term correction and most importantly sustained break below 11665.50 can push it into long term correction mode and will potentially threaten the uptrend also, which may please be noted. Apart from the above mentioned key points it has one most critical point at 12779 for 19.11.2020(this figure will change every day), be alert in long trade it closes below this mark, because sustained close below this mark may take it down with moderate to strong intensity. The overall technical setup is strong and indicates further up move may be ahead in coming days but off course with intermittent correction.

It is imperative to mention here that it is on a very sound technical footing but market is showing sign of euphoria, therefore it is advised to be cautious and careful in the long trade.

Moving down its critical support points at 12868.30---12779---12769.75---12759---12615.30---12607---12430.50---12439.40---12280---12234---12115---12069---12025---11862---11794---11573.75---11296---11218.

Moving up its critical resistance points at 13032---13294---13419---13611—13640.

In view of the above observation long trade can be tried if it maintain above 12949 or on the decline at appropriate points or near 12819 but not below it for the day, but aggressive traders can try long trade on decline up to 12777 & then near 12690 but not below it, but this could be a risky trade mind you. Therefore it is suggested to avoid long trade below 12819 for the day. Since it is showing robust strength for the continuation of the up move, therefore short trade should be avoided in general but can be attempted after a reasonable rise or on the price breakdown for taking advantage of possible intraday correction or may be for long correction at times.

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 if it moves and maintain above 12949 for some time with a stop loss of 12910.

Or

Buy on decline at appropriate points or near 12819 but not below it with a stop loss of 12770.

Buy on decline at appropriate points or near 12777 but not below it with a stop loss of 12740. It is for aggressive traders. It could be a risky trade.

Or

Buy on decline at appropriate points or near 12690 but not below it with a stop loss of 12650. It is for aggressive traders. It could be a risky trade.

2. Sell near or within the range of 13075---13125 with a stop loss of 13175. It could be a risky trade but worth trying for intraday corrective move.

Or

Sell if it moves and maintains below 12777 for some time with a stop loss of 12825. It could be a highly risky trade but worth trying for intraday 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 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---19.11.2020

 

CNX--BANK NIFTY

Open-29107.90--High-29784.75--Low-29056.75—Close-29749.85on 18.11.2020

Support:29612.55/29435.05/29156.25/29030.90/28845/28525.45/27754.45/27589/27164/26950/26545.70/26492/26408/26311.30/25953.50/25891/25723.55/25426.75/25232.60/25199/25105.35/24823.60/24617.15/24364.

Resistance30121.75/30220/30649/30801/30899/30996/31649.45.

(Bold and underlined figures are most important)

It is exhibiting extraordinary power in the up move, therefore up journey may continue in coming days with in between down correction. Furthermore it is well above its key points of 29293.50---28328---27571---26559, (the figures can change), which speaks of tremendous strength. Kindly note that break below 29293.50 can put it into very short correction, sustained break below 28328 on the closing basis will push it into short term correction mode, sustained break below 27571 will push it into medium term correction and most importantly sustained break below 26559 can push it into long term correction mode and will potentially threaten the uptrend also, which may please be noted. Since it has crossed its most critical point of 29314 on the closing basis therefore it is a very important benchmark point for now and one should be alert in long trade if it happens to close below it. The overall technical setup is strong and indicates further up move may be ahead in coming days but off course with intermittent correction. Furthermore it is likely to retest its all time high of 32613.10 or may go beyond in coming days provided it sustains above 29314 on the closing basis.

It is imperative to mention here that it is on a very sound technical footing but market is showing sign of euphoria, therefore it is advised to be cautious and careful in the long trade.

Moving down its critical support points at 29314---29030.90---28989---28744---28498---28328---28119---27703.

Moving up its critical resistance points at 29851---30220---30649---30801---30899---30996---31649.

In view of the above observation long trade can be tried if it moves and maintain above 29785 for some time or on the decline at appropriate points or near 29050 but not below it for the day, but aggressive traders can try long trade on decline up to 28328 but not below it, but this could be a risky trade mind you. Therefore it is suggested to avoid long trade below 29050 for the day.  Since it is showing robust strength for the continuation of the up move, therefore short trade should be avoided in general but can be attempted after a reasonable rise or on the price breakdown for taking advantage of possible intraday correction or may be for long correction at times.

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 at appropriate points or near 28328 but not below it with a stop loss of 28240.It is for aggressive traders and could be highly risky trade.  

Or

Buy on decline at appropriate points or near 29050 but not below it with a stop loss of 28950. But if it happens to close below29314 at the end then the trade has to be squared off in any case.

Or

Buy if it maintains above 29785 for some time with a stop loss of 29700.

2. Sell on the rise near or within the range of 30250--30350 with a stop loss of 30425. It could be a risky trade but worth trying for intraday corrective move.

Or

Sell if it moves and maintains below 28950 for some time with a stop loss of 29070. It could be a highly risky trade but worth trying for corrective move.

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 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—18.11.2020

 

CNX-NIFTY

 Open—12932.50--High—12934.05—Low—12797.10---Close-12874.20 on 17.11.2020.

Support:28818/12769.75/12430.50/12328/12294/12283/12246.70/12178/12159/12103.05/12041.15/12025.45/11981.75/11929.60/11841.30/11832.30/11803/11794.25/11775.75/11761/11661/11633/11618.10/11614/11584/11535.45/11507.65/11490.75/11460.35/11447/11373.60/11341.4011305.60/11270/11242.65.                                                                                                                                                           

Resistance: 12934.05/13032/13294/13419/13611/13640/1377914334/15043.

 (Bold and underlined figures are most important)

It is perfectly moving up in a rhythm and showing good strength therefore up journey may continue in coming days with in between down correction. Furthermore it is well above its key points of 12603---12430.50---12428.10---11654, (except for 12430.50 other figures can change), which speaks of tremendous strength. Kindly note that sustained break below 12603 on the closing basis will push it into short term correction mode, sustained break below 12430.50 will indicate that it could lose steam for the up move, sustained break below 12428.10 will push it into medium term correction and most importantly sustained break below 11654 can push it into long term correction mode and will potentially threaten the uptrend also, which may please be noted. Apart from the above mentioned key points it has one most critical point at 12759 for 18.11.2020(this figure will change every day), be alert in long trade it closes below this mark. The overall technical setup is strong and indicates further up move may be ahead in coming days but off course with intermittent correction.

Moving down its critical support points at 12769.75---12759---12607.70---12603---12430.50---12428.10---12280---12234---12115---12069---12025---11862---11794---11573.75---11296---11218.

Moving up its critical resistance points at 12934.05---13032---13294---13419---13611—13640.

In view of the above observation long trade can be tried now or on the decline at appropriate points or near 12759 but not below it for the day, but aggressive traders can try long trade on decline up to 12690 & then near 12607 but not below it, but this could be a risky trade mind you. Therefore it is suggested to avoid long trade below 12759 for the day. Since it is showing robust strength for the continuation of the up move, therefore short trade should be avoided in general but can be attempted after a reasonable rise or on the price breakdown for taking advantage of possible intraday correction or may be for long correction at times.

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 if it moves and maintain above 12934 for some time with a stop loss of 12865.

Or

Can, buy at current market price with a stop loss of 12830.

Or

Buy on decline at appropriate points or near 12759 but not below it with a stop loss of 12720. 

                                                                     Or

Buy on decline at appropriate points or near 12690 but not below it with a stop loss of 12650. It is for aggressive traders. It could be a risky trade.

Or

Buy on decline at appropriate points or near 12607 but not below it with a stop loss of 12570. It is for aggressive traders. It could be a risky trade.

2. Sell near or within the range of 13035---13100 with a stop loss of 13150. It could be a risky trade but worth trying for intraday corrective move.

Or

Sell if it moves and maintains below 12759 for some time with a stop loss of 12805. It could be a highly risky trade but worth trying for intraday 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 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---18.11.2020

 

CNX--BANK NIFTY

Open-28792.25--High-29239.25--Low-28722.90—Close-29181.30on 17.11.2020

Support:29156.25/29030.90/28845/28525.45/27754.45/27589/27164/26950/26545.70/26492/26408/26311.30/25953.50/25891/25723.55/25426.75/25232.60/25199/25105.35/24823.60/24617.15/24364.

Resistance29239.25/29435.05/29612.55/30121.75/30220/30649/30801/30899/30996/31649.45.

(Bold and underlined figures are most important)

It is perfectly moving up in a rhythm and showing good strength therefore up journey may continue in coming days with in between down correction. Furthermore it is well above its key points of 27911.40---27154---26142.20, (the figures can change), which speaks of tremendous strength. Kindly note that sustained break below 27911.40 on the closing basis will push it into short term correction mode, sustained break below 27154 will push it into medium term correction and most importantly sustained break below 26142.20 can push it into long term correction mode and will potentially threaten the uptrend also, which may please be noted. Apart from the above mentioned key points moving up it has one most critical point at 29314 and sustained close above this mark may take it up to its all time high level of 32613.10 or beyond, which may please be noted. The overall technical setup is strong and indicates further up move may be ahead in coming days but off course with intermittent correction.

Moving down its critical support points at 29030.90---28876---28652---28471---28290---28010---27911.40---27703.

Moving up its critical resistance points at 29314---29392---29538---29851---30220.

In view of the above observation long trade can be tried now or if it moves and maintain above 29240 or on the decline at appropriate points or near 28720 but not below it for the day, but aggressive traders can try long trade on decline up to 28278 but not below it, but this could be a risky trade mind you. Therefore it is suggested to avoid long trade below 28720 for the day.  Since it is showing robust strength for the continuation of the up move, therefore short trade should be avoided in general but can be attempted after a reasonable rise or on the price breakdown for taking advantage of possible intraday correction or may be for long correction at times.

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 at appropriate points or near 28278 but not below it with a stop loss of 28200.It is for aggressive traders and could be highly risky trade.  

Or

Buy on decline at appropriate points or near 28720 but not below it with a stop loss of 28680.

Or

Buy if it maintains above 29240 for some time with a stop loss of 29150.

2. Sell on the rise near or within the range of 29850--29950 with a stop loss of 30050. It could be a risky trade but worth trying for intraday corrective move.

Or

Sell if it moves and maintains below 28680 for some time with a stop loss of 28750. It could be a risky trade but worth trying for corrective move.

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 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—17.11.2020

 

CNX-NIFTY

 Open—12823.35--High—12828.70—Low—12749.45---Close-12780.25 on 14.11.2020.

Support:12769.75/12430.50/12328/12294/12283/12246.70/12178/12159/12103.05/12041.15/12025.45/11981.75/11929.60/11841.30/11832.30/11803/11794.25/11775.75/11761/11661/11633/11618.10/11614/11584/11535.45/11507.65/11490.75/11460.35/11447/11373.60/11341.4011305.60/11270/11242.65.                                                                                                                                                           

Resistance: 28818/12828.70/13419/13611/13640/1377914334/15043.

 (Bold and underlined figures are most important)

It crossed its closing top of 12749.15 today on the line chart and also crossed its resistance range of 12770---12818 intraday and closed within the range, which is a positive sign. It is well above its key points of 12523.50---12430.50---12347.60---11573.75,( except for 12430.50 other figures can change), which speaks of  tremendous strength. Kindly note that it’s most important benchmark point is its previous major top of 12430.50 and sustained break below this mark will reduce the chances of resuming the up move again, break below 12523.50 on the closing basis will push it into short term correction mode, sustained break below 12430.50 will indicate that it could lose steam for the up move, sustained break below 12347.60 will push it into medium term correction and most importantly sustained break below 11573.75 can push it into long term correction mode and will potentially threaten the uptrend, which may please be noted. Today’s move indicates that the correction may be over and now if it moves above 12829 and sustain then it could show strong up momentum. The overall technical setup is strong and indicates further up move ahead in coming days but off course with intermittent correction.

Moving down its critical support points at 12769.75---12607.70---12523.50---12430.50---12347.60---12280---12182---12050---12025---11840---11794---11573.75---11271---11198.

Moving up its critical resistance points at 12818---12870---13032---13294---13419---13611—13640.

In view of the above observation long trade can be tried now or on the decline at appropriate points or near 12690 but not below it for the day, but aggressive traders can try long trade on decline up to 12523 but not below it, but this could be a risky trade mind you. Please note that it may pick up strong up momentum if it moves and maintain above 12829. Since it is showing robust strength for the continuation of the up move, therefore short trade should be avoided in general but can be attempted after a reasonable rise or on the price breakdown for taking advantage of possible intraday correction or may be for long correction at times.

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 if it moves and maintain above 12829 for some time with a stop loss of 12770.

Or

Can, buy at current market price with a stop loss of 12730.

Or

Buy on decline at appropriate points or near 12690 but not below it with a stop loss of 12650. It is for safe traders.

Or

Buy on decline at appropriate points or near 12523 but not below it with a stop loss of 12480. It is for aggressive traders. It could be a risky trade.

2. Sell near or within the range of 12900---12950 with a stop loss of 13000. It could be a risky trade but worth trying for intraday corrective move.

Or

Sell if it moves and maintains below 12650 with a stop loss of 12700. 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 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 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---17.11.2020

 

CNX--BANK NIFTY

Open-28685.70--High-28752.45--Low-28431.85—Close-28594.30on 14.11.2020

Support:28525.45/27754.45/27589/27164/26950/26545.70/26492/26408/26311.30/25953.50/25891/25723.55/25426.75/25232.60/25199/25105.35/24823.60/24617.15/24365/24240/24096.75/23912.75/23867.75/23822/23612.70/23605.40/23388/23211.35/23081/22866/22479.85/22439.95/22418.

Resistance28845/29030.90/29156.25/29435.05/29612.55/30121.75/30220/30649/30801/30899/30996/31649.45.

(Bold and underlined figures are most important)

It closed on a positive note for the 2^nd day today but could not close above its recent top of 28845 on the line chart and could not even go near to its critical resistance range of 29030.90—29314 but that does not mean that it is weak because it is way above its key points of 27752---26995.15 & 25983(figures can change with upward price movement) which speaks of good strength and may be after consolidation here it may cross the aforesaid hurdles and pick up strong momentum which may take it up to its all time high level of 32613.10 or beyond. Similarly sustained break below 27752 on the closing basis will push it into short term correction mode, sustained break below 26995.15 will push it into medium term correction and most importantly sustained break below 25983 can push it into long term correction mode which can potentially threaten the uptrend, which may please be noted. Furthermore before closing above 28845 if it breaks below 28278 on the closing basis then it could still slip into the correction mode, which may please be noted. The overall technical setup is strong and indicates further up move ahead in coming days but off course with intermittent correction.

Moving down its critical support points at 28523---28367---28210---28016---27752---27595---27165---26995.15---26961---26321---25983---25735---24891---24696.

Moving up its critical resistance points at 28673---28720---29030.90---29314---29613---30220.

In view of the above observation for safe traders long trade can be tried if it maintains above 28600 for some time and avoid long trade on the decline for the day, but aggressive traders can try long trade on decline also up to 28278 but not below it, but this could be a risky trade mind you. Please note that it may pick up momentum if it moves above 28845 on the closing basis. Since it is showing good strength for the continuation of the up move, therefore short trade should be avoided in general but can be attempted after a reasonable rise or on the price breakdown for taking advantage of possible intraday correction or may be for long correction at times.

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 at appropriate points or near 28278 but not below it with a stop loss of 28200.It is for aggressive traders.  

Or

Buy if it maintains above 28600 for some time with a stop loss of 28425.

2. Sell on the rise near or within the range of 29240--29320 with a stop loss of 29400. It could be a risky trade but worth trying for intraday corrective move.

Or

Sell if it moves and maintains below 28200 for some time with a stop loss of 28300. It could be a risky trade.

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 are of spot market.

 

Contact me for strategic guidance to enter and exit trade.

 

Thanks 

Narendra Kumar Surana

suranank@gmail.com

Mobile—8240951127/9831313654.