A TECHNICAL VIEW ON CNX--BANK NIFTY FOR—19.4.2021

 

CNX--BANK NIFTY

Open-32161.45--High-32325.15--Low—31911.90--Close-31977.45 on 16.4.2021

Support:31783.60/31661/31649.45/31297.30/31264.05/30870/30669/30648/30520/30338.35/30220.20/29687.70/29612.55/29156/28976.75/28525.45/28388.65/27652/26641—560/26441/25598.

Resistance;32157.05/32347.20/32415.15/32465.45/32613.10/32842.30/33306.80/33990.80/34360/34430/34658.70.

(Bold and underlined figures are most important)

After two days of rise it took a breather today  and closed with a loss of 135.40 points.It is on an extremely weak technical footing and into long term correction mode, therefore significant rise from here is less likely and chances are that the on-going up move has either exhausted today or it will exhaust anytime soon, which may be kept in mind. Its critical and most important points for the year 2021 are placed at- 32613.10---32465.45---31297.30 & 31264.05 it is above its last two points but still  below its first two points which is a weak sign, furthermore it is way below all its other key points which are placed at-36063.50---35815.75---35648---33625---32612.92(figures can change) which is hugely negative sign. Please note that it slipped into long term correction mode on 9-4-2021 and it could only come out of it if it moves above 32613.10 and sustain on the closing basis else it will drift downward in coming days and down move could be very painful price-wise and time wise both and most importantly it can potentially threaten the long term uptrend, which may please be noted. 

It is into long term correction mode. It is well below its short and medium term moving averages on daily and weekly chart which indicate extreme weakness, furthermore it is below some of its long term averages and other parameters and some technical indicators are showing very weak sign on the weekly chart also and most importantly it has decisively broken its long term rising trend line way back on 24-3-2021, which indicates even greater weakness therefore  further fall looks inevitable but with intermittent short relief rallies in coming days and provided it sustains below 32613.10 on the closing basis. Please note that its pullback threshold point is now at 32218(figure can change) and it is still below it, but if it moves above it and sustain on the closing basis then only it could continue with some up move else it will drift down again. Going up it will face resistance at-32141---32330---32415.15---32465---32613.10---32842.30---33303.90---33455.50---33588---33625---33991---34268---34438---34658.70---35062---35687---35815.75---36460---36650levels. Please note that if it remains below  32613.10 then it is very likely to hit 30500—30000 level again or much below on the downside on the closing basis in coming days. I once again reiterate that it has to move above 32613.10 and sustain on the closing basis to give positive indication and to keep the hope alive for resumption of strong up momentum else down move will continue with in between short relief rallies. Going down it can find support at-31757---31650---31402----31297.30---31264.05---31030---30520---30220---29687.7---29612.55---29156---28976.75---28525.45---28388---27652. Kindly, note that the short term technical setup and parameters are tremendously weak. So short term bias is hugely negative as of now, but it is still holding up the long term uptrend some how with a very thin margin ,so it has to be watched for next couple of days to judge the long term direction.

In view of the above observation, it is into long term correction mode, therefore for safe trader or otherwise long trade in general should be avoided till it gives visible indication of correction completion. It is suggested to try long trade only once it closes above 31300 & 32218(pullback threshold point) and sustain, it is  above 31300 but could not sustain above 32218 on the closing basis therefore the range for now is 31300—32218---32613.10. The aggrressive traders can trade this range avoid long trade below 31264 for sure. Please note that long trade in long term corrective mode could be a very risky propositions, particularly buying on decline. Since it is into long term corrective mode therefore adopt sell on the rise strategy  or sell on the price breakdown for taking advantage of the down move till clarity on correction completion emerges.

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(Suggested)

1. Buy on decline near 31300 but not below it with a stop loss of 31180. It could be a risky trade.  

Or

Buy if it moves and maintaim above 32218 for some time with a stop loss of 32080. It could be a risky trade.  

2. Sell on the rise near or within the range of 32500---32613 with a stop loss of 32700. It could be a risky trade but worth trying for intraday gain in weak market.

Or

Sell if it moves below 31900 and sustain for some time with a stop loss of 32000. It could be a risky trade but worth trying for intraday gain in weak market.

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

Kindly note that make your cost your stop loss in favorable  trade and then trail it as the price move up/down to gain maximum profit and avoid losses. Use support and resistance levels as entry, exit, target and trailing stop loss points. DO NOT TRADE WITHOUT STOP LOSS.

 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-19.4.2021

 

CNX-NIFTY

 Open—14599.60--High—14697.70—Low—14559---Close-14617.85 on 16.4.2021.

Support:14528/14467.75/14459.50/14350.10/14264.40/14222.80/14024.85/13996.11/13981.75/13777.50/13596.75/13399.30/13145.85/13131.45.                                                                                                                                                           

Resistance:14653.35/14753.55/14883.20/14984.15/15051.60/15176.50/15257.10/15273.15/15336.30/15431.75/15471.                                                                                                                

 (Bold and underlined figures are most important)

It opened on a positive note and went up further but could not sustain at higher level  and slipped in the late afternoon but closed with a meager gain of 36.40 points. Todays movement showed some weakness therefore it seems that the last three days up move is likely to exhaust anytime soon  and down move should resume again.  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 15131.35---14998.70---14888.80---14336.34---13562.48---12430.50(except for 12430.50 other figures can change). It is way below its first 3 key points of15131.35---14998.70 &14888.80 for the last so many days, therefore it is already  into  deep short term correction mode and it seems that it will last long. Please note that sustained break below 14336.34  on the closing basis will push it into medium term correction mode which 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 is still into deep short term correction mode. It is  below its short and  some medium term moving averages, furthermore it is well below some of its long term avreages and parameters and some technical indicators are showing very weak sign on the weekly chart also, which gives potential indication that further fall from here looks inevitable in coming days off course with in between short relief rallies from time to time and provided it does not bounce back sharply above its key points mentioned above, which seems less likely to happen at this point of time. The good point is that it is above its  pullback rally threshold point of 14528(it can change) today and if it sustain above it on the closing basis then it could move up further and could give a moderate to reasonable recovery but here one thing should be kept in mind that pullback rallies are trecherous in nature and can end abruptly also therefore be cautious and alert in the trade initiated for pullback gains. It is most important to mention here that its major rising trend line is at 14400(this figure will rise with each passing day)  for 19.4.201 and if it breaks it and sustain on the closing basis then it could witness an accelerated fall, which may please be noted.  Going up it will face critical resistance at-14653---14703---14753.55----14811---14840--14888.80---14998.70---14985---15131.32---15156.30---15176.50---15198.30---15273.15---15336.35---15431.75---15471 levels. Please note that the pullback rally may exhaust  at any of these points or earlier also but if it closes above 14691 and sustain then it could provide some speed to the up move and if it move and sustain above 14888.80 on the closing basis then it could see some steady rise but to get back to strong up momentum it has to go a long way and move above 15196 and sustain on the closing basis, chances of  a significant rise from here looks  very slim at this point of time. Going down it can find critical support at-14528---14467.75—14375---14350---14264.10---14248.70---14222.80---14024.85---13996.11---13981.75---13953.75---13777.50---13596.75---13562.50---13399---13131. Kindly, note that the short term technical setup looks very weak. Therefore short term bias is negative as of now, but the long term setup is still holding up as of now.

In view of the above observation, it is in deep short term correction mode and the overall short term technical setup is weak as of now, therefore for safe trader long trade  should be avoided till it gives visible indication of correction completion or till it closes above 14691. Aggressive traders can try long trade if it holds 14528  or can buy on decline near 14400 but not below it. I once again caution you that long trade for pullback gains in a corrective market could be risky propositions and particularly buying on decline. Since it is still in corrective mode therefore adopt sell on the rise strategy or sell on the price breakdown for taking advantage of the down move till clarity on correction completion emerges.

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(Suggested)

1. Buy on decline  near 14400 level with a stop loss of 14370. It is for aggressive traders and could be a highly risky trade.  

Or

Buy if it hold above 14528 for some time with a stop loss of 14490. It is for aggressive traders and could be a highly risky trade. 

2. Sell on the rise near or within the range 14785---14825 with a stop loss of 14865. It could be a risky trade but worth trying in a corrective market for intraday gain.

Or

Sell near if it does not move above 14698 in first hour of trade even in  intraday with a stop loss of 14730. It could be a risky trade but worth trying for intraday gain in corrective market.

Or

Sell if it move below 14528 and maintain for sometime with a stop loss of  14570. It could be a risky trade but worth trying for intraday gain in corrective market.

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

Kindly note that make your cost your stop loss in favorable trade and then trail it as the price move up/down to gain maximum profit and avoid losses. Use support and resistance levels as entry, exit, target and trailing stop loss points. DO NOT TRADE WITHOUT STOP LOSS.

 

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—16.4.2021

 

CNX--BANK NIFTY

Open-31929.10--High-32187.05--Low—31406.40--Close-32112.85 on 15.4.2021

Support:31783.60/31661/31649.45/31297.30/31264.05/30870/30669/30648/30520/30338.35/30220.20/29687.70/29612.55/29156/28976.75/28525.45/28388.65/27652/26641—560/26441/25598.

Resistance;32157.05/32347.20/32415.15/32465.45/32613.10/32842.30/33306.80/33990.80/34360/34430/34658.70.

(Bold and underlined figures are most important)

It continued the up move today and closed with a gain of 341.25 points. Please note that this up move  may last another 1-2 days but a steady and significant rise looks less likely at this point of time because it is still into long term correction mode , therefore chances are that on-going up move may exhaust anytime soon also which may be kept in mind. Its critical and most important points for the year 2021 are placed at- 32613.10---32465.45---31297.30 & 31264.05 it bounced back above last two points today but still way below its first two points which is a weak sign, furthermore it is way below all its other key points which are placed at-36063.50---35815.75---35648---33625---32612.92(figures can change) which is hugely negative sign. Please note that it slipped into long term correction mode on 9-4-2021 and it could only come out of it if it moves above 32613.10 and sustain on the closing basis else it will drift downward in coming days and down move could be very painful price wise and time wise both and most importantly it can potentially threaten the long term uptrend, which may please be noted. 

It is into long term correction mode. It is well below its short and medium term moving averages on daily and weekly chart which indicate extreme weakness, furthermore it is below some of its long term averages and other parameters and some technical indicators are showing very weak sign on the weekly chart also and most importantly it has decisively broken its long term rising trend line way back on 24-3-2021, which indicates even greater weakness therefore  further fall looks inevitable but with intermittent short relief rallies in coming days and provided it sustains below 32613.10 on the closing basis. Please note that its pullback threshold point is now at 32217(figure can change) and it is still below it, but if it moves above it and sustain on the closing basis then only it could continue with some up move else it will drift down. Going up it will face resistance at-32141---32330---32415.15---32465---32613.10---32842.30---33303.90---33455.50---33588---33625---33991---34268---34438---34658.70---35062---35687---35815.75---36460---36650levels. Please note that if it remains below  32613.10 then it is very likely to hit 30500—30000 level again or much below on the downside on the closing basis in coming days. I once again reiterate that it has to move above 32613.10 and sustain on the closing basis to give positive indication and to keep the hope alive for resumption of strong up momentum else down move will continue with in between short relief rallies. Going down it can find support at-31650---31297.30---31264.05---30520---30220---29687.7---29612.55---29156---28976.75---28525.45---28388---27652. Kindly, note that the short term technical setup and parameters are tremendously weak. So short term bias is negative as of now and the long term setup got a jolt on 12.4.2021 but bounced back on 13.4.2021 and continued the up move today also which is comforting but still its movement has to be watched  for the next 2-3 days to judge the long term direction.

In view of the above observation, it is into long term correction mode, therefore for safe trader or otherwise long trade in general should be avoided till it gives visible indication of correction completion. It is suggested to try long trade only once it closes above 31300 & 32218(pullback threshold point) and sustain, it is closing  above 31300 for the last two days therefore traders can try long trade on decline if it holds 31300 but not below it or if it moves above 32218 and sustain for sometime Please note that long trade in long term corrective mode could be a very risky propositions, particularly buying on decline. Since it is into long term corrective mode therefore adopt sell on the rise strategy  or sell on the price breakdown for taking advantage of the down move till clarity on correction completion emerges.

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(Suggested)

1. Buy if it holds 31300 for some time with a stop loss of 31200. It could be a risky trade.  

Or

Buy if it moves and maintaim above 32218 for some time with a stop loss of 32080. It could be a risky trade.  

2. Sell on the rise near or within the range of 32500---32613 with a stop loss of 32700. It could be a risky trade but worth trying for intraday gain in weak market.

Or

Sell if it moves below 31200 and sustain for some time with a stop loss of 31350. It could be a risky trade but worth trying for intraday gain in weak market.

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

Kindly note that make your cost your stop loss in favorable  trade and then trail it as the price move up/down to gain maximum profit and avoid losses. Use support and resistance levels as entry, exit, target and trailing stop loss points. DO NOT TRADE WITHOUT STOP LOSS.

 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-16.4.2021

 

CNX-NIFTY

 Open—14522.40--High—14597.55—Low—14353.20---Close-145581.45 on 15.4.2021.

Support:14528/14467.75/14459.50/14350.10/14264.40/14222.80/14024.85/13996.11/13981.75/13777.50/13596.75/13399.30/13145.85/13131.45.                                                                                                                                                           

Resistance:14653.35/14753.55/14883.20/14984.15/15051.60/15176.50/15257.10/15273.15/15336.30/15431.75/15471.                                                                                                                

 (Bold and underlined figures are most important)

It continued the up move today and closed with a gain of 76.65 points. Please note that this up move  may last another 1-2 days but a steady and significant rise looks less likely at this point of time because it is still into deep short term correction mode , therefore chances are that on-going up move may exhaust anytime soon also which may be kept in mind. 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 15131.35---14998.70---14888.80---14336.34---13562.48---12430.50(except for 12430.50 other figures can change). It is way below its first 3 key points of15131.35---14998.70 &14888.80 for the last so many days, therefore it is already  into  deep short term correction mode and it seems that it will last long. Please note that sustained break below 14336.34  on the closing basis will push it into medium term correction mode which 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 is still into deep short term correction mode. It is decisively below its short and medium term moving averages, furthermore it is well below some of its long term parameters and some technical indicators are showing very weak sign on the weekly chart also, which gives potential indication that further fall from here looks inevitable in coming days off course with in between short relief rallies from time to time and provided it does not bounce back sharply above its key points mentioned above, which seems less likely to happen at this point of time. But the good point is that it has moved above its  pullback rally threshold point of 14528(it can change) today and if it sustain above it on the closing basis then it could move up further and could give moderate to good  recovery but here one thing should be kept in mind that pullback rallies are trecherous in nature and can end abruptly also therefore be cautious and alert in the trade initiated for pullback gains. It is most important to mention here that its major rising trend line is at 14390(this figure will rise with each passing day)  for 16.4.201 and if it breaks it and sustain on the closing basis then it could witness an accelerated fall, which may please be noted.  Going up it will face critical resistance at-14653---14703---14753.55----14811---14840--14888.80---14998.70---14985---15131.32---15156.30---15176.50---15198.30---15273.15---15336.35---15431.75---15471 levels. Please note that the pullback rally may exhaust  at any of these points or earlier also but if it move and sustain above 14888.80 on the closing basis then it could see some steady rise but to get back to strong up momentum it has to go a long way and move above 15196 and sustain on the closing basis, chances of which looks very slim at this point of time. Going down it can find critical support at-14528---14467.75—14375---14350---14264.10---14248.70---14222.80---14024.85---13996.11---13981.75---13953.75---13777.50---13596.75---13562.50---13399---13131. Kindly, note that the short term technical setup looks very weak. Therefore short term bias is negative as of now, but the long term setup is still holding up as of now.

In view of the above observation, it is in deep short term correction mode and the overall short term technical setup is weak as of now, therefore for safe trader long trade  should be avoided till it gives visible indication of correction completion. But since it closed above its pullback threshold point of 14528 therefore aggressive traders can try long trade if it holds 14528  or can buy on decline near 14390 but not below it. I once again caution you that long trade for pullback gains in a corrective market could be risky propositions and particularly buying on decline. Since it is still in corrective mode therefore adopt sell on the rise strategy or sell on the price breakdown for taking advantage of the down move till clarity on correction completion emerges.

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(Suggested)

1. Buy on decline  near 14390 level with a stop loss of 14350. It is for aggressive traders and could be a highly risky trade.  

Or

Buy if it hold above 14528 for some time with a stop loss of 14480. It is for aggressive traders and could be a highly risky trade. 

2. Sell on the rise near or within the range 14750---14780 with a stop loss of 14820. It could be a risky trade but worth trying in a corrective market for intraday gain.

Or

Sell near if it does not move above 14690 in first hour of trade even intraday with a stop loss of 14720. It could be a risky trade but worth trying for intraday gain in corrective market.

Or

Sell if it move below 14528 and maintain for sometime with a stop loss of  14590. It could be a risky trade but worth trying for intraday gain in corrective market.

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

Kindly note that make your cost your stop loss in favorable trade and then trail it as the price move up/down to gain maximum profit and avoid losses. Use support and resistance levels as entry, exit, target and trailing stop loss points. DO NOT TRADE WITHOUT STOP LOSS.

 

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—15.4.2021

 

CNX--BANK NIFTY

Open-30901.80--High-31885.45--Low—30722.85--Close-31771.60 on 13.4.2021

Support:31661/31649.45/31297.30/31264.05/30870/30669/30648/30520/30338.35/30220.20/29687.70/29612.55/29156/28976.75/28525.45/28388.65/27652/26641—560/26441/25598.

Resistance;31783.60/32157.05/32347.20/32415.15/32465.45/32613.10/32842.30/33306.80/33990.80/34360/34430/34658.70.

(Bold and underlined figures are most important)

After the huge fall on 12.4.2021 and since it hit near its crucial support point of 30500 the same day, therefore a bounce back was expected and that is what had happened today and it moved up and closed with a gain of 979.60 points. Please note that this up move can last may be for next 2-3 days but a steady and significant rise looks less likely because it is into long term correction mode therefore the trend is down, which may be kept in mind. Its critical and most important points for the year 2021 are placed at- 32613.10---32465.45---31297.30 & 31264.05 it bounced back above last two points today but still way below its first two points which is a weak sign, furthermore it is way below all its other key points which are placed at-36063.50---35815.75---35648---33625---32612.92(figures can change) which is hugely negative sign. Please note that it slipped into long term correction mode on 9-4-2021 and it could only come out of it if it moves above 32613.10 and sustain on the closing basis else it will drift downward in coming days and down move could be very painful pricewise and time wise both and most importantly it can potentially threaten the long term uptrend, which may please be noted. 

It slipped into long term correction mode on 9-4-2021. It is well below its short and medium term moving averages on daily and weekly chart which indicate extreme weakness, furthermore it is below some of its long term averages and other parameters and some technical indicators are showing very weak sign on the weekly chart also and most importantly it has decisively broken its long term rising trend line way back on 24-3-2021, which indicates even greater weakness therefore  further fall looks inevitable but with intermittent short relief rallies in coming days. Please note that its pullback threshold point is now at 32217(figure can change), so if it moves above it and sustain on the closing basis then only it could continue with some up move else it will drift down. Going up it will face resistance at-32141---32415.15---32465---32613.10---32842.30---33303.90---33455.50---33588---33625---33991---34268---34438---34658.70---35062---35687---35815.75---36460---36650levels. Please note that if it remains below 33625 & 32613.10 then it is very likely to hit 30500—30000 level again or much below on the downside on the closing basis in coming days. I once again reiterate that it has to move above 32613.10 and sustain on the closing basis to give positive indication and to keep the hope alive for resumption of strong up momentum else down move will continue with in between short relief rallies. Going down it can find support at-31650---31297.30---31264.05---30520---30220---29687.7---29612.55---29156---28976.75---28525.45---28388---27652. Kindly, note that the short term technical setup and parameters are tremendously weak. So short term bias is negative as of now and the long term setup got a jolt yesterday but bounced back today which is comforting but still its movement has to be watched  for the next 3-4 days to judge the long term direction.

In view of the above observation, it is into long term correction mode, therefore for safe trader or otherwise long trade in general should be avoided till it gives visible indication of correction completion. It is suggested to try long trade only once it closes above 31300 & 32218(pullback threshold point) and sustain, it did close above 31300 today and therefore traders can try long trade if it holds 31300. It is suggested to avoid long trade below 31300 for sure. Please note that long trade in long term corrective mode could be a very risky propositions, particularly buying on decline. Since it is into long term corrective mode therefore adopt sell on the rise strategy  or sell on the price breakdown for taking advantage of the down move till clarity on correction completion emerges. Short trade should be tried but with extreme alertness and caution because the long term technical setup still seems 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(Suggested)

1. Buy if it holds 31300 for some time with a stop loss of 31200. It could be a risky trade.  

2. Sell on the rise near or within the range of 32500---32600 with a stop loss of 32750. It could be a risky trade but worth trying for intraday gain in weak market.

Or

Sell if it moves below 31200 and sustain for some time with a stop loss of 31350. It could be a risky trade but worth trying for intraday gain in weak market.

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

Kindly note that make your cost your stop loss in favorable  trade and then trail it as the price move up/down to gain maximum profit and avoid losses. Use support and resistance levels as entry, exit, target and trailing stop loss points. DO NOT TRADE WITHOUT STOP LOSS.

 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.