INTRA-DAY TRADING CALLS FOR 18.6.2021

 

TRADING CALLS

 

1. AXIS BANK.

Sell below 736, S/L-742, Target-725/718/709/702. 

2. EICHER MOTORS.

Sell below 2664, S/L-2680, Target—2610/2589/2549. 

3. ADANI PORT.

Sell below 638, S/L-645, Target-628/594/675/562. 

4. HDFC BANK.

Sell below-1460, S/L-1472, Target-1439/1421/1393/1381. 

5. HDFC LTD.

Sell below-2482, S/L-2495, Target-2465/2440/2402. 

6. BHARTI AIRTEL.

Sell below-527, S/L-532, Target-518/514/506/499. 

7. BAJAJ AUTO.

Sell below-4042, S/L-4060, Target-4028/3996/3975/3966. 

8. CIPLA.

Sell below-943, S/L-953, Target-931/921/911/896. 

9. HERO MOTO CORP.

Sell below-2902, S/L-2922, Target-2880/2835/2802. 

10. SUN PHARMA.

Sell below-659, S/L-667, Target-640/630/622/609. 

11. JSW STEEL.

Sell below-692, S/L-700, Target-680/671/661/650. 

12. L&T.

Sell below-1478, S/L-1490, Target-1455/1435/1416. 

13. TATA STEEL.

Sell below-1093, S/L-1105, Target-1085/1072/1043. 

14. STATE BANK OF INDIA.

Sell below-416, S/L-420, Target-413/406/403/396.

 

                    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—18.6.2021

 

CNX--BANK NIFTY

Open-34619.80--High-34882.40--Low—34458.10--Close-34605.40 on 17.6.2021

Support:34410/34374/34287/33990.80/33625/33371/33306.80/32842.30/32613.10/32465.45/32415.15/32347/32157.05/32130/31783.60/31661/31649.49/31297.30/31264.05.

 

Resistance;34641/34658.70/34893.25/34930/34976/35380/35428.15/35584.30/35648/35810.90/35902.90/36248/36455.15/36497/36615/37232/37708.75.

(Bold and underlined figures are most important)

It has broken it’s both the bottom of 34950.36 & 34800.50 on the line chart decisively, thereby pushing it into very short term corrective mode again, furthermore it is also below some of its short term moving averages now, which is an extremely weak sign and if it does not bounce back sharply and move above 35248(this figure can change) as of now on the closing basis in the next 2-3 trading sessions, then down move may continue with intermittent relief rally.  It is important to mention here that it will only resume the steady up move once it crosses its critical range of 35648---36248 and sustain above it on the closing basis, else down move will definitely continue. Please note that if it sustain above 36248 on the closing basis then it could retest its all-time high of 37708.75 or may go beyond also. But looking at last few days movement chances of moving above 36248 and sustain looks extremely bleak at this point of time. However going up to 36248 level from here it will face critical resistance at 34641.20---34894---34930---35070---35176---35472---35527---35584.30---35649---35810.90---36248. Similarly moving down its critical support points would be at 34535.26(this figure can change)—34410---33625 & 33273.  It has gotten into very short term corrective mode today, sustained break below 34535.26 will push it into deep short term corrective mode, sustained break below 34410 will accelerate the down move and sustained break below 33625 & 33273 could deepen the correction further. The other critical support points are at 34287---34249.33---33625---33334---33273---33130---32921.15---32613---32465. The long term outlook is positive as of now but with today’s move short term bias looks weak as of now. 

It is important to mention here that technically this on-going uptrend is showing enough strength and looking good for the continuation of the up move but this up rally is not in sync with the fundamentals and you are well aware that it is the fundamentals which eventually hold the Priceline. Therefore this on-going up rally may deceive you at any point of time, so be alert and careful in long trade henceforth.   

In view of the above observation, it is into very short corrective mode again; therefore it is suggested to avoid long trade in general till clarity on correction completion emerges. However highly aggressive traders can try long trade if it moves above 34700 and maintain for some time or can buy on decline at appropriate points or near 34374 but not below it. Please note that any type of long trade in the corrective mode could be a risky affair, mind you. Since it has not crossed its critical resistance range as mentioned above and into corrective mode again, therefore short trade should be tried after the reasonable rise or can be tried on the price breakdown for taking advantage of the corrective move.

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

TRADING STRATEGY (Suggested)

1. Buy on decline near 34374 but not below it with a stop loss of 34140. It is for the highly aggressive traders and could be a highly risky trade.

Or

Buy if it moves above 34700 and maintain for some time with a stop loss of 34570. It is for the highly aggressive traders and could be a highly risky trade.

2. Sell on the rise near or within the range of 34990---35100 with a stop loss of 35175. It could be a highly risky trade but worth trying for intraday gain.

Or

Sell if it moves below 34374 and maintain for some time with a stop loss of 34550. It could be a highly 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-NIFTY FOR-18.6.2021

 

CNX-NIFTY

 Open—15648.30--High—15769.35—Low—15616.75---Close-15691.40 on 17.6.2021.

Support:15678/15629.65/15606.55/15566/15471/15431.75/15336.30/15273.15/15263/15257.10/15176.50/15051.60/14984.15/14888.80/14883.20/14753.55/14653.35/14595/14484.12/14467.75/14459.50/14350.10/14264.40/14248/14222.80/14151.40/14024.85/13996.11/13981.75.                                                                                                                                                           

Resistance: - 15780/15835.55/15877/15902/ 15920/ 15989/16085/16223/16750.   

 (Bold and underlined figures are most important)

It continued the down move today and closed with a loss of 76.15 points. Please note that the range for it as of now is between 15780---15606 and breakout on the either side will decide its future direction till then it will oscillate in the range. Therefore as long as it holds 15635 & 15606 levels it could still bounce back but it will resume the steady up move only if it moves above 15780 and sustain on the closing basis. Similarly sustained break below 15606 can pull it down sharply. The long term technical setup is looking good for  the up move to continue as of now but with intermittent down correction and as long as it holds  15471 & 15431.75 levels on the closing basis, then it could still scale up to 15780---15920---16223---16750---17250---17503---19575---20390 levels, but please note that it could end the up rally for good at any of these points or earlier also or may correct at any of these points and then may resume the rally again, both the possibilities are there which may be kept in mind. Similarly moving down its critical support points are at 15635.35---16606.35---15566.90---15488.55---15471---15431.75.  Please note that sustained break below 15635 may push it again into a very short corrective mode, sustained break below 15566 could accelerate the fall, sustained break below 15488.55(this figure can change) on the closing basis will push it into deep short term corrective mode and sustained break below 15471 & 15431.75 on the closing basis will deepen the correction further and may threaten the uptrend also, which may please be noted. Moving down other critical support levels will be at 15374---15273---15257---15176---15111---15084---14977---14906---14884.  The long term outlook is positive as of now but in light of today’s move the short term bias looks jittery now.

It is important to mention here that technically this on-going uptrend is showing enough strength and looking good for the continuation of the up move but this up rally is not in sync with the fundamentals and you are well aware that it is the fundamentals which eventually hold the Priceline. Therefore this on-going up rally may deceive you at any point of time, so be alert and careful in long trade henceforth.   

In view of the above observation, it is suggested to trade the range of 15780—15606 as of now. Please note that long trade below 15635 could be a risky trade mind you because if it moves and sustain below it for a longer time during the day then it could move down sharply. Since it has not yet crossed some of its critical long term averages and broken some short term moving average today, therefore short trade can also be tried after reasonable rise or can be tried on the price breakdown for taking advantage of the corrective move.

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

TRADING STRATEGY (Suggested)

1. Buy on decline at appropriate points with self defined stop losses or near 15635 but not below it with a stop loss of 15580. It could be a highly risky trade.

Or

Buy if it moves above 15780 and maintain for some time with a stop loss of 15740. It could be a risky trade.

2. Sell on the rise near 15780 with a stop loss of 15810. It could be a risky trade but worth trying for intraday gain.

Or

Sell if it moves below15606 and maintain for some time with a stop loss of 15645.

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.

 

 

INTRA-DAY TRADING CALLS FOR 17.6.2021

 

TRADING CALLS 

1. AXIS BANK.

Sell below 746, S/L-751, Target-740/734/725/704. 

2. GRASIM.

Sell below 1463, S/L-1475, Target—1435/1425/1408. 

3. ADANI PORT.

Sell near but below 713, S/L-718, Target-697/689/681/665/657.

Or

Sell below 697, S/L-707, Target-689/681/665/657. 

4. HCL TECH.

Sell below-974, S/L-985, Target-965/953/941/934. 

5. HDFC LTD.

Sell below-2512, S/L-2525, Target-2488/2465/2440. 

6. BHARTI AIRTEL.

Sell below-534, S/L-538, Target-528/518/508. 

7. BAJAJ AUTO.

Sell below-4102, S/L-4115, Target-4064/4047/4028/4000. 

8. CIPLA.

Sell below-953, S/L-960, Target-943/930/919/903. 

9. HERO MOTO CORP.

Sell below-2970, S/L-2985, Target-2943/2913/2890. 

10. HINDALCO.

Sell below-381, S/L-384, Target-377/368/360/354. 

11. JSW STEEL.

Sell below-703, S/L-710, Target-688/676/671/663. 

12. KOTAK MAHINDRA BANK.

Sell near but below 1775, S/L-1780, Target-1753/1736/1725/1705/1685.

Or

Sell below 1753, S/L-1763, Target-1736/1725/1705/1685. 

13. L&T.

Sell below-1498, S/L-1508, Target-1490/1478/1455. 

14. TATA STEEL.

Sell below-1131, S/L-1140, Target-1121/1114/1102/1089. 

15. STATE BANK OF INDIA.

Sell below-425, S/L-428, Target-418/412/406. 

                    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—17.6.2021

 

CNX--BANK NIFTY

Open-35196.25--High-35380--Low—34916.20--Close-35003.80 on 16.6.2021

Support:34976/34930/34893/34658.70/34641/34430/34360/34287/33990.80/33625/33371/33306.80/32842.30/32613.10/32465.45/32415.15/32347/32157.05/32130/31783.60/31661/31649.49/31297.30/31264.05.

 

Resistance;35380/35428.15/35584.30/35648/35810.90/35902.90/36248/36455.15/36497/36615/37232/37708.75.

(Bold and underlined figures are most important)

It corrected today and almost wiped out yesterdays gain on the closing basis and closed with a loss of 244.25 points. Please note that after making higher top and bottom on the line chart yesterday, it went below its recent bottom of 34950.60 intraday today but managed to close above it, whereas it should have shown strength but instead it showed weakness which is not a good sign. Kindly note that sustained break below 34950.60 on the closing basis as of now may push it back into very short corrective mode again. It is important to mention here that it will only resume the steady up move once it crosses its critical range of 35648---36248 and sustain above it on the closing basis, else down move may continue. Please note that if it sustain above 36248 on the closing basis then it could retest its all-time high of 37708.75 or may go beyond also. Going up 36248 level from here it will face critical resistance at 35070---35176---35472---35527---35584.30---35649---35810.90---36248. Similarly moving down its critical support points would be at 34930---34641.20---34535.26(this figure can change)—34410---33625 & 33273, sustained break below 34930 will push it into very short correction mode again, sustained break below 34535.26 will push it into deep short term corrective mode, sustained break below 34410 will accelerate the down move and sustained break below 33625 & 33273 could deepen the correction further. The other critical support points are at 34287---34249.33---33625---33334---33273---33130---32921.15---32613---32465. The long term bias is positive as of now and short term bias also looks positive as of now. 

It is important to mention here that technically this on-going uptrend is showing enough strength and looking good for the continuation of the up move but this up rally is not in sync with the fundamentals and you are well aware that it is the fundamentals which eventually hold the Priceline. Therefore this on-going up rally may deceive you at any point of time, so be alert and careful in long trade henceforth.   

In view of the above observation, since it has came out of very short corrective mode therefore long trade can be tried if it moves above 35250 and maintain for some time or can buy on decline at appropriate points  or near 34950 but not below it. Although it is making higher top and bottom on the line chart but today’s movement created some doubt in the mind that it may get into corrective mode again, so be cautious in the long trade. Since it has not crossed its critical resistance range as mentioned above, therefore short trade should be tried after the reasonable rise or can be tried on the price breakdown for taking advantage of the corrective move.

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

TRADING STRATEGY (Suggested)

1. Buy on decline near 34950 but not below it with a stop loss of 34890. It could be a risky trade.

Or

Buy if it moves above 35250 and maintain for some time with a stop loss of 35150.

2. Sell on the rise near or within the range of 35450---35500 with a stop loss of 35600. It could be a highly risky trade but worth trying for intraday gain.

Or

Sell if it moves below 34915 and maintain for some time with a stop loss of 35080. It could be a highly 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.