INTRA-DAY TRADING CALLS FOR 24.6.2021

 

TRADING CALLS

 

1. AXIS BANK.

Sell below 730, S/L-735, Target-725/718/709/702. 

2. BAJAJ AUTO.

Sell below 4191, S/L-4201, Target—4167/4155/4131/4106. 

3. ADANI PORT.

Sell below 715, S/L-721, Target-701/689/681/657. 

4. HDFC LTD.

Sell below-2493, S/L-2503, Target-2482/2451/2440/2402. 

5. INDUSIND BANK.

Sell below-996, S/L-1006, Target-982/960/929. 

6. DIVIS LAB.

Sell below-4221, S/L-4240, Target-4205/4180/4162/4146/4124. 

7. ASIAN PAINTS.

Sell below-2983, S/L-2993, Target-2973/2935/2919/2903. 

8. ICICI BANK.

Sell below-623, S/L-627, Target-616/603/591. 

9. DR.REDDYS LAB.

Sell below-5287, S/L-5305, Target-5250/5227/5182/5150. 

10. KOTAK MAHINDRA BANK.

Sell below-1725, S/L-1740, Target-1701/1685/1669. 

11. HCL TECH.

Sell below-971, S/L-981, Target-961/942/932/922. 

12. L&T.

Sell below-1476, S/L-1486, Target-1447/1416/1400. 

13. TATA STEEL.

Sell below-1097, S/L-1107, Target-1085/1072/1050/1042. 

14. TATA MOTORS.

Sell below-334, S/L-337, Target-330/326/320/315. 

15. TCS.

Sell below-3251, S/L-3268, Target-3239/3211/3186. 

16. HERO MOTO CORP.

Sell below-2921, S/L-2940, Target-2896/2877/2852/2835. 

17. INFOSYS.

Sell below-1498, S/L-1508, Target-1484/1477/1467/1445. 

18. JSW STEEL.

Sell below-664, S/L-670, Target-646/630/615. 

19. RELIANCE INDUSTRIES.

Sell below-2200, S/L-2215, Target-2179/2157/2146. 

20. WIPRO.

Sell below-538, S/L-543, Target-528/518/503/492. 

                    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—24.6.2021

 

CNX--BANK NIFTY

Open-34911.85--High-34937.65--Low—34525.45--Close-34574 on 23.6.2021

Support:34535.26/34410/34374/34287/33990.80/33625/33371/33306.80/32842.30/32613.10/32465.45/32415.15/32347/32157.05/32130/31783.60/31661/31649.49/31297.30/31264.05.

 

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)

Its price movement is showing extreme weakness for the last few days and today also it closed with a loss of 171 points. It is making lower top and bottom on the line chart, so it is already into very short correction mode, but it is just holding its recent bottom of 34558 but sustained break below it could drag it down fast, similarly if it moves up from here and closes above 34872 then chances are that it could further move up, else down move will continue , furthermore it is still below some of its short term moving averages and some important technical indicators are also showing potential weakness and most importantly it has broken its short term rising trend line on 22.6.2021 which is a very bad sign and if it remains below it then it may drag it down further in coming days. Please note the rising trend line is placed at 35140 (it will move up every day) for 24.6.2021, so to give it some strength it has to move above 35140 on the closing basis and then maintain above the trend line on the closing basis then the chances are that the up move may start again, else down move will continue with intermittent relief rallies. Please note that chances of moving above the trend line looks bleak at this point of time.

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’ price movements chances of moving above 36248 and sustain looks extremely slim 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 34558---34535.26(this figure can change)—34410---33908.95---33625 & 33273.  It is already into very short term corrective mode, sustained break below 34535.26 will push it into deep short term corrective mode, sustained break below 33908.95 will accelerate the down move and sustained break below 33625 & 33273 could deepen the correction further. Moving down the other critical support points will be at 34287---34249.33---33625---33334---33273---33130---32921.15---32613---32465. The long term outlook is positive as of now but short term bias still looks extremely weak at this point of time. 

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; therefore it is suggested to avoid long trade in general till clarity on correction completion emerges. However aggressive traders can try long trade if it moves above 34872 or above 35140 and maintain for some time or can buy if it holds the level of 34558 for some time but not below it. Please note that long trade below 34558 could be a highly risky trade 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 crossed its critical resistance range as mentioned above and into corrective mode and other technical indicators are also weak, 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 if it holds the level of 34558 but not below it with a stop loss of 34435. It is for the aggressive traders and could be a highly risky trade.

Or

Buy if it moves above 34872 and maintain for some time with a stop loss of 34720. It is for the aggressive traders and could be a highly risky trade.

Or

Buy if it moves above 35140 and maintain for some time with a stop loss of 35050. It is for the aggressive traders and could be a highly risky trade.

2. Sell on the rise near or within the range of 35000---35100 with a stop loss of 35200. It could be a highly risky trade but worth trying for intraday gain.

Or

Sell if it moves below 34535 and maintain for some time with a stop loss of 34640. It could be a risky trade but worth trying.

Or

Sell if it does not move above 34938 in first one and half hour of trade with a stop loss of 35040. 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-24.6.2021

 

CNX-NIFTY

 Open—15862.80--High—15862.95—Low—15673.95---Close-15686.95 on 23.6.2021.

Support:15683.35/15678/15629.65/15606.55/15566/15471/15450.90/15431.75/15336.30/15273.15/15263/15257.10/15176.50/15051.60/14984.15/14888.80/14883.20/14753.55/14653.35/14595/14484.12/14467.75/14459.50/14350.10/14264.40/14248/14222.80/14151.40/14024.85/13996.11/13981.75.                                                                                                                                                           

Resistance: - 15780/15835.55/15877/15901.60/ 15920/ 15989/16085/16223/16750.          

 (Bold and underlined figures are most important)

It again moved above the upper band of the range of 15780---15606 intraday today but could not sustain above it and in the late afternoon it moved down sharply and closed just shade above its recent bottom of 15683.35 on the line chart, which is weak sign. It has made lower top on the line chart today and if it breaks the bottom of 15683.35 on the closing basis then it will establish lower bottom also and will get into very short corrective mode, which may please be noted. Furthermore it is also below some of its short term moving averages and some important technical indicators are showing potential weakness and pointing towards down move in coming days, which is tremendously weak indication , provided it does not move above 15780 and sustain on the closing basis. Kindly note that looking at last two days price movement it will not be easy for it to cross the point of 15780 and sustain on the closing basis. So watch out and be alert and cautious.   

The long term technical setup is still 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 15683.35---16606.35---15566.90---15488.55---15471---15431.75.  Please note that sustained break below 15683.35 may push it 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 short term bias still looks extremely dicey till it moves above 15780 and sustain on the closing basis. Therefore it is suggested to be extra cautious and careful in the long trade at this point of time, because chances of moving down look pretty bright at this point of time.

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, for safe traders it is suggested to try long trade only once it closes above 15780 and sustain. However aggressive trader can try long trade if it moves above 15780 and maintain for some time or can try long trade if it holds 15683 levels for some time, else avoid.  Please note that long trade below 15683 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 below some of its short term moving averages, 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 if it holds the level of 15683 for some time with a stop loss of 15650. It for the aggressive traders and 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 is for the aggressive traders and could be a highly risky trade.

2. Sell on the rise near or within the range of 15780---15820 with a stop loss of 15860. It could be a risky trade but worth trying for intraday gain.

Or

 

Sell if it moves below15683 and maintain for some time with a stop loss of 15730.

Or

Sell if it moves below15606 and maintain for some time with a stop loss of 15640.

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 23.6.2021

 

TRADING CALLS 

1. AXIS BANK.

Sell below 737, S/L-742, Target-730/725/718/709/702. 

2. AUROBINDO PHARMA.

Sell below 947, S/L-955, Target—937/931/917/905. 

3. ADANI PORT.

Sell below 738, S/L-746, Target-727/713/701/689/657. 

4. HDFC BANK.

Sell below-1480, S/L-1490, Target-1462/1455/1439/1428/1419. 

5. INDUSIND BANK.

Sell below-996, S/L-1006, Target-982/960/929. 

6. BHARTI AIRTEL.

Sell below-535, S/L-540, Target-526/52/514/508. 

7. ASIAN PAINTS.

Sell below-3004, S/L-3020, Target-2973/2935/2919/2903. 

8. ICICI BANK.

Sell below-629, S/L-633, Target-622/616/603. 

9. GRASIM.

Sell below-1493, S/L-1503, Target-1475/1453/1441/1420. 

10. KOTAK MAHINDRA BANK.

Sell below-1754, S/L-1764, Target-1731/1721/1701/1685. 

11. BANDHAN BANK.

Sell below-339, S/L-343, Target-332/327/324/313/309. 

12. L&T.

Buy above-1505, S/L-1490, Target-1524/1536/1555/1575. 

13. TATA STEEL.

Sell below-1106, S/L-1116, Target-1093/1085/1072/1050/1042. 

14. TATA MOTORS.

Sell below-336, S/L-340, Target-330/326/320/315. 

15. TECH MAHINDRA.

Sell below-1053, S/L-1063, Target-1034/1015/994. 

                    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.