INTRA-DAY TRADING CALLS FOR 31.5.2021

 

TRADING CALLS

 

1. CIPLA.

Sell below 931, S/L-936, Target-921/911/900. 

2. AXIS BANK.

Sell below 738.50, S/L-743, Target—726/716/702. 

3. HINDUSTAN UNILEVER.

Sell below 2319, S/L-2329, Target-2300/2265. 

4. TITAN.

Sell below-1570, S/L-1580, Target-1750/1730/1705. 

5. EICHER MOTORS.

Sell below-2626, S/L-2640, Target-2589/2547/2513. 

6. ICICI BANK.

Sell below-638, S/L-644, Target-628/616/601. 

7. L&T.

Sell below -1473, S/L-1483, Target-1447/1435/1410. 

8. STATE BANK OF INDIA.

Sell below-420, S/L, 425, Target-410/403/395/385. 

9. SUN PHARMA.

Sell if it remains below-666, S/L, 671, Target-654/642/636/628. 

10. TATA STEEL.

Sell below-1097, S/L-1105, Target-1083/1072/1047. 

11. TCS.

Sell below-3135, S/L-3150, Target-3120/3088/3073/3050.

 

                    Note: Price stated here is of spot market. 

 

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

 

 Kindly note that make your cost your stop loss in 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.                       

 

 Contact me for strategic guidance to enter and exit the trade

 

 Thanks 

Narendra Kumar Surana

suranank@gmail.com

Mobile—8240951127/9831313654.

 

                        

 

 

 

       

 

 

 

 

                                               

                            

                     

  

 

                    

                            

 

 

A TECHNICAL VIEW ON CNX--BANK NIFTY FOR—31.5.2021

 

CNX--BANK NIFTY

Open-35345.65--High-35436.65--Low—34977.20--Close-35141.45 on 28.5.2021

Support:34976/34893/34658.70/34430/34360/34287/33990.80/33625/33371/33306.80/32842.30/32613.10/32465.45/32415.15/32347/32157.05/32130/31783.60/31661/31649.49/31297.30/31264.05.

Resistance;35428.15/36455.15/36497/36615/37232/37708.75.

(Bold and underlined figures are most important) 

It has been moving up and showing good technical strength, which is positive sign for the continuation of the up move, but moving up the range of 35648---36248 seems tough range to cross. However if it moves above 36248 and sustain on the closing basis then it can retest its all-time high of 37708.75 or may go beyond it also. Similarly sustained break below 34249.33(this figure can change) can push it into short corrective mode and break below 33625 & 33273 could deepen the correction. The other critical support points are at 34662---34410.40---34287---34249.33---33625---33334---33273---33130---32921.15---32613---32465. The technical setup is good for the up move but for sustained up move it has to move above 36248 and sustain on the closing basis, else it may correct. It is therefore suggested to be alert in long trade below 34410 and exit trade below 34249 for sure. It is important to mention here that some technical indicators on the weekly chart are improving but it is still weak which is pointing that it could trigger down move if it does not become positive in coming weeks, so one should be alert and vigilant particularly in the long trade at this point of time. The bias is up as of now.

In view of the above observation long trade can be tried if it moves above 35437 and maintain for some time or can buy on decline also at appropriate points but not below 34410. Please note that long trade could be a risky affair at this juncture particularly buying on decline. Since it has not crossed its critical resistance range as mentioned above, therefore short trade can also be tried after the reasonable rise or can be tried on the price breakdown for taking advantage of the down 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 (Suggested)

1. Buy on decline at appropriate points with self defined short stop loss or near 34410 but not below it with a stop loss of 34200. It is for aggressive traders and could be a highly risky trade.   

Or

Buy if it moves above 35437 and maintain for some time with a stop loss of 35300. It could be a risky trade.

2. Sell on the rise near or within the range of 35600---35700 with a stop loss of 35800. It could be a risky trade but worth trying for intraday gain.

Or

Sell if it moves below 34410 and maintain for some time with a stop loss of 34550. It could be a risky trade but worth trying for intraday gain.

Or

Sell if it moves below 34660 and maintain for some time with a stop loss of 34800. It is for highly aggressive traders and could be a risky bet.

Or

Sell if it does not move above 35437 in first hour of trade with a stop loss of 35480. 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.

 

 

A TECHNICAL VIEW ON CNX-NIFTY FOR-31.5.2021

 

CNX-NIFTY

 Open—15421.20--High—15469.65—Low—15394.75---Close-15435.65 on 28.5.2021.

Support:15431.75/15336.30/15273.15/15257.10/15176.50/15051.60/14984.15/14888.80/14883.20/14753.55/14653.35/14595/14484.12/14467.75/14459.50/14350.10/14264.40/14248/14222.80/14151.40/14024.85/13996.11/13981.75.                                                                                                                                                           

Resistance: 15471/15780/15920/16223/16750/17250/17503/19575/20390.

 (Bold and underlined figures are most important)

It has been exhibiting good strength and continuously rising for the last six days and made a new all-time high of 15469.65 but has not yet crossed its most critical point of 15471. However, even if it crosses this mark it has to sustain above it on the closing basis to give further steady rise. Therefore 15471 is the benchmark point now for up move and sustained close above it could take it to 15780---15920---16223---16750---17250---17503---19575---20390 levels, please note that it could end the up rally for good or may correct at any of these points or earlier then may resume the rally again, but if it moves below 15431.75 and sustain on the closing basis then that it will be a threat to the on-going up move. Therefore moving down 15431.75 is the key point and sustained break below 15176 & 15158.40(this figure can change) levels may trigger moderate to big downside which may please be noted. Moving down other support points would be at 15273---15137---15044---14977---14906---14884.90, break below 14884.90 will accelerate the fall.  Therefore avoid long trade below 15471 for sure and be alert in long trade below 15431.75 and avoid long trade completely below 15176 & 15158.40. It is important to mention here that some technical indicators on the weekly chart are improving but it is still weak which is pointing that it could trigger down move if it does not become positive in coming weeks, so one should be alert and vigilant particularly in the long trade at this point of time. The bias is up as of now.

In view of the above observation for safe trader’s long trade can only be tried if moves above 15471 and sustain on the closing basis therefore a big no for long trade for safe traders at this point of time. However aggressive traders can try long trade if it moves above 15471 and maintain for some time or can try if it holds 15431.75 marks or can buy on decline at appropriate points but not below 15176. Please note that long trade could be a risky affair at this juncture particularly buying on decline. Since it is critical zone therefore short trade can also be tried after reasonable rise or can be tried on the price breakdown for taking advantage of the down 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 (Suggested)

1. Buy on decline at appropriate points with self defined short stop loss or near 15176 but not below it with a stop loss of 15140. It is for aggressive traders and could be a highly risky trade.   

Or

Buy if it holds above 15431.75 levels for some time with a stop loss of 15385. It is for aggressive traders and could be a risky trade.  

Or

Buy if it moves above 15471 and maintain for some time with a stop loss of 15420. It is for aggressive traders and could be a risky trade.  

2. Sell on the rise near or within the range of 15540---15560 with a stop loss of 15585. It could be a risky trade but worth trying for intraday gain.

Or

Sell if it moves below 15385 and maintain for some time with a stop loss of 15440. It could be a risky trade but worth trying for intraday gain.

Or

Sell if it does not move above 15471 in first one hour of trade with a stop loss of 15485. It could be a risky trade but worth trying for intraday gain.

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—25.5.2021

 

CNX--BANK NIFTY

Open-34869.30--High-35216.10--Low—34528.30--Close-34943.60 on 24.5.2021

Support:34893/34658.70/34430/34360/34287/33990.80/33625/33371/33306.80/32842.30/32613.10/32465.45/32415.15/32347/32157.05/32130/31783.60/31661/31649.49/31297.30/31264.05.

Resistance;34976/35428.15/36455.15/36497/36615/37232/37708.75.

(Bold and underlined figures are most important) 

It is showing technical strength, which is good for the continuation of the up move, but moving up the range of 35648---36248 seems tough range to cross. However if it moves above 36248 and sustain on the closing basis then it can retest its all-time high of 37708.75 or may go beyond it also. Similarly sustained break below 34080.76(this figure can change) could push it into very short corrective mode and break below 33625 & 33273 could deepen the correction. The other critical support points are at 33625---33334---33273---33130---32613---32465. The technical setup is good for up move but, it is important to mention here that some technical indicators on the weekly chart are pointing that it could turn weak also in coming days, so one should be alert and vigilant particularly in the long trade at this point of time. The bias is up as of now.

In view of the above observation long trade can be tried if it holds 34695 levels or can buy on decline also at appropriate points but not below 33273.  Since it is still into deep short term correction mode, therefore short trade can also be tried after the reasonable rise or can be tried on the price breakdown for taking advantage of the down 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 (Suggested)

1. Buy on decline at appropriate points with self defined short stop loss or near 33335--33273 but not below it with a stop loss of 33150. It could be a risky trade.

Or

Buy if it holds 34695 levels with a stop loss of 34550. 

2. Sell on the rise near or within the range of 35650---35750 with a stop loss of 35850. It could be a risky trade but worth trying for intraday gain.

Or

Sell if it moves below 34695 and maintain for some time with a stop loss of 34800. It could be a risky trade but worth trying for intraday gain.

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-25.5.2021

 

CNX-NIFTY

 Open—15211.35--High—15256.25—Low—15145.45---Close-15197 on 24.5.2021.

Support:15176.50/15051.60/14984.15/14888.80/14883.20/14753.55/14653.35/14595/14484.12/14467.75/14459.50/14350.10/14264.40/14248/14222.80/14151.40/14024.85/13996.11/13981.75.                                                                                                                                                           

Resistance:15257.10/15273.15/15336.30/15431.75/15471.                  

 (Bold and underlined figures are most important)

It moved in a short range today and closed just few points above its most important and critical level of 15176.50. The technical setup is strong for the continuation of the up move, but please notes that the range of 15176.50---15471 is very tough range and it seems difficult to cross. However if it moves above 15471 and sustain on the closing basis then it will open an upside range of 16750---17250, similarly if it moves below 15176.50 and sustain on the closing basis then on-going up move may end and it may open moderate to big downside. So it is critically poised now, therefore it is important to mention here that some technical indicators on the weekly chart are pointing that it could turn weak in coming days, so one should be alert and vigilant particularly in the long trade at this point of time. The bias is up as of now.

In view of the above observation for safe trader’s long trade can only be tried if moves above 15471 and sustain on the closing basis therefore a big no for long trade at this point of time. However aggressive traders can try long trade if it holds 15190 levels or can buy on decline at appropriate points but not below 15080. Please note that long trade could be a risky affair at this juncture particularly buying on decline. Since it is critical zone therefore short trade can also be tried after reasonable rise or can be tried on the price breakdown for taking advantage of the down 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 (Suggested)

1. Buy at appropriate points with self defined short stop loss or near 15080 but not below it with a stop loss of 15040. It is for aggressive traders and could be a risky trade.   

Or

Buy if it holds 15190 levels with a stop loss of 15140. It is for aggressive traders and could be a risky trade.   

 

2. Sell on the rise near or within the range of 15280---15310 with a stop loss of 15350. It could be a risky trade but worth trying for intraday gain.

Or

Sell if it moves below 15140 and maintain for some time with a stop loss of 15200. It could be a risky trade but worth trying for intraday gain.

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—24.5.2021

 

CNX--BANK NIFTY

Open-33559.80--High-34694.45--Low—33559.75--Close-34606.90 on 21.5.2021

Support:34430/34360/34287/33990.80/33625/33371/33306.80/32842.30/32613.10/32465.45/32415.15/32347/32157.05/32130/31783.60/31661/31649.49/31297.30/31264.05.

Resistance;34658.70/34893/34976/35428.15/36455.15/36497/36615/37232/37708.75.

(Bold and underlined figures are most important) 

Further to my last post for 6.5.2021 it did not violate the critical points for the year 2021 (see my post for 6.5.2021) therefore it moved in a range for few days and gave upside breakout from the downtrend line on 18.5.2021 and still holding it, which is a positive sign. Furthermore overall technical setup looks o.k. therefore it is likely to move up in coming days and moving up it will face stiff resistance at 34919---35648---35985---36248 the up move may exhaust at any of these points, so be watchful, but if it moves above 36248 and sustain on the closing basis then it can retest its all-time high of 37708.75 or may go beyond also. Similarly moving down it will find good support at 33625---33273.95---33130---32613---32465, please be alert in the long trade below 33625 and exit long position below 33273 because it may trigger moderate to sharp fall if it sustains below 33273. Kindly note that some technical indicators on the weekly chart are still weak and it is critically poised at this point of time, so be alert and vigilant particularly in the long trade now. The bias is up as of now.         

In view of the above observation long trade can be tried if it moves above 34695 and maintain for some time or can be tried on decline at appropriate points but not below 33273. Since it is still into short term correction mode, therefore short trade can also be tried after the reasonable rise or can be tried on the price breakdown for taking advantage of the down 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 (Suggested)

1. Buy on decline at appropriate points with self defined short stop loss or near 33335--33273 but not below it with a stop loss of 33000. It could be a risky trade.

Or

Buy if it moves and maintains above 34695 for some time with a stop loss of 34550. 

2. Sell on the rise near or within the range of 35250---35350 with a stop loss of 35450. It could be a risky trade but worth trying for intraday gain.

Or

Sell if it does not move above 34695 in first hour of trade with a stop loss of 34800. It could be a risky trade but worth trying for intraday gain.

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.