A TECHNICAL VIEW ON CNX--BANK NIFTY FOR—12.3.2021

 

CNX--BANK NIFTY

Open-36112.25--High-36176.90--Low—35764.35—Close-35938.30 on10.3.2021

Support:35884/35815.75/35648/35584.60/35428.15/35379/34893.25/34803.60/32842.30/32718.75/31725.85/31650.90/31510.25/30945.20/30893.65/30197.85/29687.70

Resistance: 36086/36397/36455/36466/36477/36615.20/36647/36897/37170/37284/37708.25/38286/38520.

(Bold and underlined figures are most important)

It moved above its pullback giving threshold points of 35427 & 35378 but to give momentum to the pullback move it has to cross many more hurdles, however as long as it holds 35427 & 35378 (figures can change) levels chances are that the pullback move may last for some time. Please note that its critical and most important points for the year 2021 are 32613.10---32465.45---31297.30 & 31264.05 and it is well above these points now and as long as it hold these points on the closing basis uptrend will remain intact. Its other key points are placed at 36031---35815.75---35648---33625---32612.92(figures can change). ). It is still below its first critical point of 36031 which is weak sign. Please note that sustained break below 35815.75 & 35648 will push it again into deep short corrective mode which can last for 4-7 days or more, sustained break below 33625 will push it into medium term correction mode and it can last even longer and most importantly sustained break below 32612.92 on the closing basis can push it into long term correction mode and can potentially threaten the uptrend also which may please be noted.

It did moved above its pullback giving threshold points of 35427 & 35379 but to come out of complete corrective mode and pick, up momentum it has to move above 36031 and then above 36718 and sustain on the closing basis, so still it has to go a long way. But as long as it holds 35427 & 35379 levels chances of moving up is there. Please note that sustained close above 36718 may help it to pick, up momentum and sustained close above 37100 will ensure that it may retest its all-time high of 37708.75 or may go beyond also. Moving up it will face resistance at 36031---36177---36718---36989---37100---37232.20---37708.75---37932---38215---38539---38822. Similarly moving down it can find support at 35815.75---35648----35428----35379---35018---34893.25—34658.70---34373---34114---33625. Please note that the short term technical setup is improving now, but the long term technical setup is o.k. as of now.

 In view of the above observation, long trade can be tried if it moves and maintains above 36031  for some time or can buy on decline at appropriate points or near 35427 but not below it. Please note that buy on decline for the day could be a risky proposition. Since it has not come out of corrective phase completely therefore short trade can also be tried after a reasonable rise in the appropriate range or on the price breakdown for taking advantage of the intraday down correction but with extreme alertness and caution because the long term technical setup is still o.k. as of now.

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 36031 for some time with a stop loss of 35890. It is for aggressive traders and could be a risky trade.

Or

Buy on decline but not below 35427 with a stop loss of 35200. It could be a highly risky trade.

2. Sell if it moves and maintains below 35379 for some time with a stop loss of 35500. It could be a risky trade but worth trying for intraday correction.

Or

Sell on the rise near or within the range of 36480---36650with a stop loss of 36750. It could be a 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-NIFTY FOR—12.3.2021

 

CNX-NIFTY

 Open—15202.15--High—15218.45—Low—15100.85---Close-15174.80on 10.3.2021.

Support:15165/15102/15069/14998.80/14977.20/14899/14862.10/14823.07/14753.55/14653.35/14222.80/13953.75/13777.50/13596.75/13399.30/13145.85/13131.45.                                                                                                                     

Resistance:15176.50/15273.15/15305/15325/15369/15431.75/15471/15615/15694/15800/16028/16323/16991.50/17470.                                                                                                                

 (Bold and underlined figures are most important)

It moved above all its key points on 9.3.2021 and today further moved up and closed with a gain of 76.39 points which is a good sign and as long as it holds 15083 on the closing basis chances are that it can continue the up move with intermittent correction. Its most critical points for the year 2021 are 14024.85---13996.11 & 13981.75 and it is way above these points now and as long as it holds these points on the closing basis uptrend will remain intact. Its other key points are at 15083---14998.70---14888.80---14336.34---13562.48---12430.50(except for 12430.50 other figures can change). It has moved above all its key points now therefore it is out of correction mode now, which is positive sign. Please note that sustained break below 15083 & 14998.70 again can will push it into very short term correction mode which can last for 4-7 days or more, sustained close below 14888.80 can push it again into deep short term correction mode which can last longer, sustained break below 14336.34 on the closing basis will push it into medium term correction mode and it can last even longer and most importantly sustained break below 13562.48 on the closing basis can push it into long term correction mode and will potentially threaten the uptrend and finally sustained break below 12430.50 on the closing basis will further dampen the uptrend for sure, which may please be noted.

It moved above all its key points so it seems that correction may be over and if it holds 15083(figure can change) it is expected to move up and may pick, up momentum once it closes above 15239 and sustain. It is important to mention here that the further strong and sustainable up move can only be expected if it moves above 15431.75 & 15471 and sustain on the closing basis else with zigzag movement it may drift down again in coming days. Therefore moving up the critical range is between 15239---15431.75---15471(first two figures can change) please note that sustained close above 15471 will open the big upside range for it. Going up it will face resistance at 15176.50---15204---15239---15273.15---15369---15431.75---15471---15615---15694---15800---16028---16323. Similarly moving down it can find support at 15083---14998.80---14888.80---14753.55---14695.25---14635.05---14529.15---14467.75---14428---14336.34---14300---14258---14222.80---14024.85---13996.11---13981.75 levels.  Please note that the short term technical setup is improving now but the long term technical setup is still o.k. as of now.

In view of the above observation, safe traders can try long trade if it moves and maintain above 15239 for some time but avoid buy on decline for the day. However aggressive traders can try long trade if it moves and maintain 15239 for some time or can buy on decline but not below 15083. Since correction seems to be over therefore short trade in general should be avoided but can be tried after a reasonable rise in the appropriate range or on the price breakdown for taking advantage of the intraday down correction but with extreme alertness and caution because the long term technical setup is good for continuation of the up move as of now.

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 maintains above 15239 for some time with a stop loss of 15170.

Or

Buy on decline but not below 15083 with a stop loss of 15030. It is for aggressive traders and could be a risky trade.

2. Sell on the rise near or within the range 15390---15430 with a stop loss of 15490. It could be a risky trade but worth trying for intraday correction.

Or

Sell if it moves and sustain below 15083 for some time with a stop loss of 15140. It could be a 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-NIFTY FOR—9.3.2021

 

CNX-NIFTY

 Open—15002.45--High—15111.15—Low—14919.90---Close-14 956.20on 8.3.2021.

Support:14899/14823.07/14753.55/14653.35/14222.80/13953.75/13777.50/13596.75/13399.30/13145.85/13131.45.                                                                                                                                                           

Resistance:14977.20/14998.90/15069/15102/15165/15273.15/15305/15325/15369/15431.75/15471/15615/15694/15800/16028/16323/16991.50/17470.                                                                                                                

 (Bold and underlined figures are most important)

As expected it gave both ways swing today and finally ended the day with a meager gain of 18.10 points. It is not exhibiting enough strength at this point of time for a steady up move and facing rejection at 15000 plus levels, which is a weak indication. Its most critical points for the year 2021 are 14024.85---13996.11 & 13981.75 and it is way above these points now and as long as it holds these points on the closing basis uptrend will remain intact. Its other key points are at 15083---14998.70---14888.80---14336.34---13562.48---12430.50(except for 12430.50 other figures can change). It is running below its first 2 key point of 15083 & 14998.70 therefore it is in very short term correction mode now and it could last for 4-7 days or more. Please note that sustained close below 14888.80 can push it again in the deep short term correction mode which can last longer, sustained break below 14336.34 on the closing basis will push it into medium term correction mode and it can last even longer and most importantly sustained break below 13562.48 on the closing basis can push it into long term correction mode and will potentially threaten the uptrend and finally sustained break below 12430.50 on the closing basis will further dampen the uptrend for sure, which may please be noted.

It still has the long term technical strength, but it is in very short term correction mode now, but chances of pullback rally is still on as long as it holds 14695 on the closing basis but it may pick, up momentum only if it moves and maintain above 15083 and then above 15239(figures can change) on the closing basis, but if it fails to move above the said points in next 3-4 trading session then it could correct further from here. It is important to mention here that the further strong and sustainable up move can only be expected if it moves above 15431.75 & 15471 and sustain on the closing basis else with zigzag movement it may drift down in coming days. Therefore moving up the critical range is between 15239----15471(first two figures can change) and it seems really tough to cross this range as of now. However going up it will face resistance at 14998.80--15083---15176.50---15204---15239---15273.15---15369---15431.75---15471---15615---15694---15800---16028---16323. Similarly moving down it can find support at 14888.80---14753.55---14695.25---14635.05---14529.15---14467.75---14428---14336.34---14300---14258---14222.80---14024.85---13996.11---13981.75 levels.  Please note that the short term technical setup is weak but the long term setup is still o.k. as of now.

In view of the above observation for safe traders it is suggested to avoid long trade till it closes above 15239 and sustain on the closing basis. However aggressive traders can try long trade if it moves and maintain either above 14998.80 or 15083 for some time or can buy on decline but not below 14919. It is important to mention here that it is in corrective and pullback mode both and pullback rallies are treacherous in nature and can end abruptly also as it happened few days back, so be alert and extremely cautious in the long trade initiated for pullback gains.    Since it is not giving clear direction at this point of time therefore short trade can also be tried after a reasonable rise in the appropriate range or on the price breakdown for taking advantage of the intraday down correction or otherwise but with extreme alertness and caution because the long term technical setup is good o.k. as of now.

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 maintains above 14998.80 or 15083 levels for some time with a stop loss of 14945 & 15030. It is for aggressive traders and could be a risky trade.

Or

Buy on decline but not below 14919 with a stop loss of 14880. It is for aggressive traders and could be a risky trade.

2. Sell on the rise near or within the range 15115---15160 with a stop loss of 15190. It could be a risky trade but worth trying for intraday correction.

Or

Sell if it moves and sustain below 14880 for some time with a stop loss of 14930. It could be a 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—9.3.2021

 

CNX--BANK NIFTY

Open-35462.45--High-35827.30--Low—35090.75—Close-35275.75 on 8.3.2021

Support:34893.25/34803.60/32842.30/32718.75/31725.85/31650.90/31510.25/30945.20/30893.65/30197.85/29687.70

Resistance: 35379/35428.15/35584.60/35648/35815.75/25884/36086/36397/36615.20/36647/36897/37170/37284/37708.25/38286/38520.

(Bold and underlined figures are most important)

Although it closed on a positive note with a meager gain of 47.60 points, but it is still in deep short term corrective mode, which is a very weak sign and indicate that it could drift further down from here if it does not bounce back sharply in next 3-4 trading session. . Please note that its critical and most important points for the year 2021 are 32613.10---32465.45---31297.30 & 31264.05 and it is well above these points now and as long as it hold these points on the closing basis uptrend will remain intact. Its other key points are placed at 36031---35815.75---35648---33625---32612.92(figures can change). ). It is decisively below its first 3 key points of 36031 -- 35815.75 & 35648 therefore it is in deep short corrective mode which can last for 4-7 days or more. Please note that sustained break below 33625 will push it into medium term correction mode and it can last even longer and most importantly sustained break below 32612.92 on the closing basis can push it into long term correction mode and can potentially threaten the uptrend also which may please be noted.

It still has the long term technical strength but short term technical setup is very weak and it is into deep short term correction mode now and it can only give a pullback up move if it moves above 35427(figure can change) and sustain on the closing basis, else correction may deepen. Kindly, note that to come out of corrective mode completely it has to move above 35648---35815.75---36031 and finally above 36718 and sustain on the closing basis, which seems slightly tough at this point of time.  However moving up it will face resistance at 35648---35815.75---36031---36718---36989---37100---37232.20---37708.75---37932---38215---38539---38822, please note that sustained close above 36718 may help it to pick, up momentum and sustained close above 37100 will ensure that it may retest its all time high of 37708.75 or may go beyond also.  Similarly moving down it can find support at 35018---34893.25—34658.70---34373---34114---33625. Please note that the short term technical setup is weak now, but the long term setup is still o.k. 

In view of the above observation, it is suggested that safe traders should avoid long trade till it closes at least above 35427 and sustain but it would be safe to try long trade if it closes above 36031 and sustain. However aggressive traders can try long trade if it moves above 35427 and maintain for some time or buy on decline near but not below 35090.  Please note that long trade could be a risky proposition because it is in corrective mode. Since it is still in corrective phase therefore short trade can be tried after a reasonable rise in the appropriate range or on the price breakdown for taking advantage of the intraday down correction or otherwise but with extreme alertness and caution because the long term technical setup is still o.k. as of now.

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 35427 for some time with a stop loss of 35250. It is for aggressive traders and could be a risky trade.

Or

Buy on decline but not below 35090 with a stop loss of 35000. It could be a highly risky trade.

2. Sell if it moves and maintains below 35090 for some time with a stop loss of 35300. It could be a risky trade but worth trying for intraday correction.

Or

Sell on the rise near or within the range of 35900---36000with a stop loss of 36100. It could be a risky trade but worth trying for intraday correction.

Or

Sell if it moves and maintains below 34893 for some time with a stop loss of 35100. It could be a 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—8.3.2021

 

CNX--BANK NIFTY

Open-35458.50--High-35616.05--Low—34893.25—Close-35228.25 on 5.3.2021

Support:34893.25/34803.60/32842.30/32718.75/31725.85/31650.90/31510.25/30945.20/30893.65/30197.85/29687.70

Resistance: 35379/35428.15/35584.60/35648/35815.75/25884/36086/36397/36615.20/36647/36897/37170/37284/37708.25/38286/38520.

(Bold and underlined figures are most important)

It is exhibiting high volatility so it can swing both ways in coming days, it is in deep short term corrective mode and continued the down move today and closed with a loss of 574.35 points. This kind of volatility is not good for a steady up move and if it does not bounce back sharply in next 3-4 trading session and sustain then it can sharply move down. Please note that its critical and most important points for the year 2021 are 32613.10---32465.45---31297.30 & 31264.05 and it is well above these points now and as long as it hold these points on the closing basis uptrend will remain intact. Its other key points are placed at 36031---35815.75---35648---33625---32612.92(figures can change). ). It is decisively below its first 3 key points of 36031 -- 35815.75 & 35648 therefore it is in deep short corrective mode which can last for 4-7 days or more. Please note that sustained break below 33625 will push it into medium term correction mode and it can last even longer and most importantly sustained break below 32612.92 on the closing basis can push it into long term correction mode and can potentially threaten the uptrend also which may please be noted.

It still has the long term technical strength but short term technical setup is very weak and it is into deep correction mode now and it seems that the pullback move has also ended if it does not bounce back above 35427(figure can change) in 1-2 days and sustain on the closing basis. Kindly, note that to come out of corrective mode completely it has to move above 35648---35815.75---36031 and finally above 36718 and sustain on the closing basis, which seems slightly tough as of now.  However moving up it will face resistance at 35648---35815.75---36031---36718---36989---37100---37232.20---37708.75---37932---38215---38539---38822, please note that sustained close above 36718 may help it to pick, up momentum and sustained close above 37100 will ensure that it may retest its all time high of 37708.75 or may go beyond also.  Similarly moving down it can find support at 35018---34893.25—34658.70---34373---34114---33625. Please note that the short term technical setup is getting jolt from time to time so it is weak now, but the long term setup is still o.k.

 

In view of the above observation, it is suggested that safe traders should avoid long trade till it closes at least above 35427 and sustain but it would be safe to try long trade if it closes above 36031 and sustain. However aggressive traders can try long trade if it moves above 35427 and maintain for some time or buy on decline at appropriate points but not below 34890.  Please note that long trade could be a risky proposition because it is in corrective mode. Since it is still in corrective phase therefore short trade can be tried after a reasonable rise in the appropriate range or on the price breakdown for taking advantage of the intraday down correction or otherwise but with extreme alertness and caution because the long term technical setup is still o.k. as of now.

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 35427 for some time with a stop loss of 35190. It is for aggressive traders and could be a risky trade.

Or

Buy on decline but not below 34890 with a stop loss of 34800. It could be a risky trade.

2. Sell if it maintains below 34890 for some time with a stop loss of 35020. It could be a risky trade but worth trying for intraday correction.

Or

Sell on the rise near or within the range of 35900---36000with a stop loss of 36080. It could be a 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-NIFTY FOR—8.3.2021

 

CNX-NIFTY

 Open—14977.95--High—15092.35—Low—14862.10---Close-14938.10 on 5.3.2021.

Support:14899/14823.07/14753.55/14653.35/14222.80/13953.75/13777.50/13596.75/13399.30/13145.85/13131.45.                                                                                                                                                           

Resistance:14977.20/14998.90/15069/15102/15165/15273.15/15305/15325/15369/15431.75/15471/15615/15694/15800/16028/16323/16991.50/17470.                                                                                                                

 (Bold and underlined figures are most important)

It is exhibiting high volatility so it can swing both ways in coming days, it is in corrective mode and continued the down move today and closed with a loss of 142.65 points. But it is still not out of the pullback mode as long as it holds 14695 level but it may pick up momentum only if it moves and sustain above 15083 & 15239 (figures can change) on the closing basis which may please be noted. Its most critical points for the year 2021 are 14024.85---13996.11 & 13981.75 and it is way above these points now and as long as it holds these points on the closing basis uptrend will remain intact. Its other key points are at 15083---14998.70---14888.80---14336.34---13562.48---12430.50(except for 12430.50 other figures can change). It is running below its 1^st key point of 15083 and today it has gone below its 2^nd key point of 14998.70 therefore it is in very short term correction mode now and it could last for 4-7 days. Please note that sustained close below 14888.80 can push it again in the deep short term correction mode which can last longer, sustained break below 14336.34 on the closing basis will push it into medium term correction mode and it can last even longer and most importantly sustained break below 13562.48 on the closing basis can push it into long term correction mode and will potentially threaten the uptrend and finally sustained break below 12430.50 on the closing basis will further dampen the uptrend for sure, which may please be noted.

It has the long term technical strength , but it is in very short term correction mode now, but chances of pullback rally is still on as long as it holds 14695 on the closing basis but it may pick ,up momentum only if it moves and maintain above 15083 and then above 15239(figures can change) on the closing basis. It is important to mention here that the further strong and sustainable up move can only be expected if it moves above 15431.75 & 15471 and sustain on the closing basis else with zigzag movement it may drift down in coming days. Therefore moving up the critical range is between 15239----15471(first two figures can change) and it seems tough to cross this range as of now. However going up it will face resistance at 14998.80--15083---15176.50---15204---15239---15273.15---15369---15431.75---15471---15615---15694---15800---16028---16323. Similarly moving down it can find support at 14888.80---14753.55---14695.25---14635.05---14529.15---14467.75---14428---14336.34---14300---14258---14222.80---14024.85---13996.11---13981.75 levels.  Please note that the short term technical setup is weak but the long term setup is still o.k.

In view of the above observation for safe traders it is suggested to avoid long trade till it closes above 15239 and sustain on the closing basis. However aggressive traders can try long trade if it moves and maintain either above 14998.80 or 15083 for some time or can buy on decline but not below 14888.80. It is important to mention here that it is in corrective and pullback mode both and pullback rallies are treacherous in nature and can end abruptly also as it happened few days back, so be alert and extremely cautious in the long trade initiated for pullback gains.    Since it is not giving clear direction therefore short trade can also be tried after a reasonable rise in the appropriate range or on the price breakdown for taking advantage of the intraday down correction or otherwise but with extreme alertness and caution because the long term technical setup is good o.k. as of now.

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 maintains above 14998.80 or 15083 levels for some time with a stop loss of 14945 & 15030. It is for aggressive traders and could be a risky trade.

Or

Buy on decline but not below 14888 with a stop loss of 14840. It is for aggressive traders and could be a risky trade.

2. Sell on the rise near or within the range 15100---15140 with a stop loss of 15180. It could be a risky trade but worth trying for intraday correction.

Or

Sell if it moves and sustain below 14860 for some time with a stop loss of 14940. It could be a 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.