A TECHNICAL VIEW ON CNX--BANK NIFTY FOR—13.8.2021

 

CNX--BANK NIFTY

Open-35825.40---High-35998.15--Low—35702.90---Close-35937.05 on 12.8.2021

Support:35811/35648/35584.30/35491.95/35428.15/35380/34976/34930/34859.90/34663/34635.95/34555/34525.45/34410/34374/34357.35/34322/34287/34115.20/33908.95/33625/33371/33306.80/32842.30/32613.10/32465.45/32415.15/32347/32157.05/32130/31783.60/31661/31649.49/31297.30/31264.05. 

Resistance;35985.25/36248/36317/36455.15/36497/36615/37100/37232/37708.75/39010/39695/.

(Bold and underlined figures are most important) 

It had an up day today and closed with a gain of 130.65 points. It has made lower bottom on the line chart which is very concerning but there is no price destruction as yet but please note that break below 35797(it may change) on the closing basis will push it into very short term corrective mode and going down it will find good support at 35648---35576---35186---34859.90---34632.60---34525---34410---34115---33908. It is important to mention here that for a steady and strong up momentum, it has to move above 36248 and sustain on the closing basis then it could possibly retest its all time high of 37708.75 or may go beyond also. Going up to the level of 37708.75 it will face resistance at 36248---36497---36615---37232---37417 points. It is important to mention here that it has been trying to cross the critical point of 36248 for the last few days now but failed which is also concerning. Please note that if it is not able to cross it during this week or early next week on the closing basis then it may possibly start drifting down again which may please be noted.

It is important to mention here that its long term technical setup is good for the uptrend to continue. The short term outlook has improved drastically and one very important technical indicator has also become positive on the daily chart but on the weekly chart it is was still negative last weekend which is concerning but if it continues it’s up journey then it may also come into positive territory this weekend and if does not happen then it may start drifting down. So till it comes into positive mode it is suggested that not to be fearless but be cautious and careful in your long trades.

In view of the above observation, for safe traders long trade can be tried if it moves above 36248 and maintain for some time avoid buying on decline for the day. However aggressive traders can also buy if it moves above 36040 and maintain for some time. It is exhibiting some weakness here therefore long trade in general could be a risky affair at this point of time. Since it has not yet crossed some of its critical long term averages, therefore short trade can also be tried after reasonable rise or can be tried on the price breakdown for taking advantage of the intraday or otherwise 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 moves above 36248 and maintain for some time with a stop loss of 36000.It is for both the traders.

Or

Buy if it moves above 36040 and maintain for some time with a stop loss of 35900.It is for the aggressive traders and could be a risky trade.

2. Sell if it moves below 35797 and maintain for some time with a stop loss of 35950. It could be a risky trade but worth trying.

Or

Sell on the rise near or within the range of 36300---36375 with a stop loss of 36475 It could be a highly 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---13.8.2021

 

CNX-NIFTY

 Open—16303.65--High—16375.50—Low—16286.90---Close-16364.40 on 12.8.2021.

Support:16240/16223/16180/16162.55/16074/16024/15962.25/15920/15915.65/15899.80/15885.75/15877/15835.55/15780/15673.95/15635.95/15632.75/15606.55/15578.55/15566/15471/15450.90/15431.75.                                                                                                                                                           

Resistance: -16371/16446/16583/16631/16690/17360/17503/19575/20390.           

 (Bold and underlined figures are most important)

It had an up move today and closed with a gain of 82.15 points. It looks good for the continuation of the up move with intermittent correction and the upside target or resistance points could be 16371---16446---16584---16631---16690---16750,   please note that moving up the range of 16289—16371---16446 would be a very tough resistance range and it could correct in this range, therefore it seems that it will be tough to cross this range, so be vigilant and alert in this range. Please note that break below 16172(it may change) could push it into very short term correction mode, but as long as it holds 15962.25 level there is no major threat to the uptrend. Similarly moving down it will find support at 16289---16223---16172---16135---16085---16074---16024---15962.25, but sustained break below 15962.25 may accelerate the fall.

It is important to mention here that its long term technical setup is good for the uptrend to continue. The short term outlook has improved and one very important technical indicator has also become positive on the daily chart but on the weekly chart it was still negative last weekend which is concerning but if it continues it’s up journey then it may also come into positive territory this weekend and if does not then it may start drifting down. So till it comes into positive mode it is suggested that not to be fearless but be cautious and careful in your long trades.

In view of the above observation, for safe trades long trade can be tried if it moves above 16376 and maintain for some time or on decline near 16289 but not below it. However aggressive traders can try buying on decline near 16238 or near 16172 but not below it. Please note that buying below 16238 could be a risky affair. It is in strong up move but still below some of its critical long term averages, therefore short trade can also be tried after reasonable rise or can be tried on the price breakdown for taking advantage of the intraday gains.

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 moves above 16376 and maintain for some time with a stop loss of 16340. It is for both the traders. It could be a risky trade.

Or

Buy on decline near 16289 but not below it with a stop loss of 16260. It is for both the traders.

Or

Buy on decline near 16238 and then near 16172 but not below it with a stop loss of 16200 and 16140 respectively. It is for the aggressive traders and could be a risky trade.

2. Sell on the rise near or within the range of 16425---16450 for some time with a stop loss of 16475. It could be a risky trade but worth trying for intraday gain.

Or

Sell if it moves below 16238 and maintain for some time with a stop loss of 16290. It could be a highly risky trade but worth trying for intraday gain.

Or

Sell if it moves below 16172 and maintain for some time with a stop loss of 16260. It could be a highly 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—12.8.2021

 

CNX--BANK NIFTY

Open-36218.25---High-36227.55--Low—35531.35---Close-35806.40 on 11.8.2021

Support:35648/35584.30/35491.95/35428.15/35380/34976/34930/34859.90/34663/34635.95/34555/34525.45/34410/34374/34357.35/34322/34287/34115.20/33908.95/33625/33371/33306.80/32842.30/32613.10/32465.45/32415.15/32347/32157.05/32130/31783.60/31661/31649.49/31297.30/31264.05. 

Resistance;35811/35985.25/36248/36317/36455.15/36497/36615/37100/37232/37708.75/39010/39695/.

(Bold and underlined figures are most important) 

It had another volatile day today and it closed with a loss of 227.70 points. It has broken its recent bottom of 35809.25 on the line chart which is  very concerning and please note that break below 35797(it may change) on the closing basis will push it into very short term corrective mode and  going down it will find good support at 35648---35576---35186---34859.90---34632.60---34525---34410---34115---33908. It is important to mention here that for a steady and strong up momentum, it has to move above 36248 and sustain on the closing basis then it could possibly retest its all time high of 37708.75 or may go beyond also. Going up to the level of 37708.75 it will face resistance at 36248---36497---36615---37232---37417 points. It is important to mention here that it has been trying to cross the critical point of 36248 for the last six days now but failed which is also concerning. Please note that if it is not able to cross it during this week or early next week on the closing basis then it may possibly start drifting down again which may please be noted.

It is important to mention here that its long term technical setup is good for the uptrend to continue. The short term outlook has improved drastically and one very important technical indicator has also become positive on the daily chart but on the weekly chart it is was still negative last weekend which is concerning but if it continues it’s up journey then it may also come into positive territory this weekend and if does not happen then it may start drifting down. So till it comes into positive mode it is suggested that not to be fearless but be cautious and careful in your long trades.

In view of the above observation, for safe traders long trade can be tried if it moves above 36248 and maintain for some time avoid buying on decline for the day. However aggressive traders can also buy if it moves above 35830 and maintain for some time. It is exhibiting some weakness here therefore long trade in general could be a risky affair at this point of time. Since it has not yet crossed some of its critical long term averages, therefore short trade can also be tried after reasonable rise or can be tried on the price breakdown for taking advantage of the intraday or otherwise 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 moves above 36248 and maintain for some time with a stop loss of 36000.It is for both the traders.

Or

Buy if it moves above 35830 and maintain for some time with a stop loss of 35730.It is for the aggressive traders and could be a risky trade.

2. Sell if it moves below 35797 and maintain for some time with a stop loss of 35900. It could be a risky trade but worth trying.

Or

Sell on the rise near or within the range of 36300---36375 with a stop loss of 36475 It could be a highly 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---12.8.2021

 

CNX-NIFTY

 Open—16327.30--High—16338.75—Low—16162.55---Close-16282.25 on 11.8.2021.

Support:16240/16223/16180/16074/16024/15962.25/15920/15915.65/15899.80/15885.75/15877/15835.55/15780/15673.95/15635.95/15632.75/15606.55/15578.55/15566/15471/15450.90/15431.75.                                                                                                                                                           

Resistance: -16362/16439/16583/16631/16690/17360/17503/19575/20390.           

 (Bold and underlined figures are most important)

It had another volatile day today and it had wild swings both sides but finally it managed to close with a meager gain of 2.15 points. Please note that last two day  volatility was disturbing and gives an indication of weak undertone but since there is no price destruction as yet on the closing basis, therefore it still looks good to move up and the upside target or resistance points could be 16362---16439---16584---16631---16690---16750,   please note that moving up the range of 16280—16362---16439 would be a very tough resistance range and it could correct in this range and it did reacted again today within this range, therefore it seems that it will be tough to cross this range, so be vigilant and alert in this range. Please note that break below 16159.64(it may change) could push it into very short term correction mode, but as long as it holds 15962.25 level there is no major threat to the uptrend. Similarly moving down it will find support at 16223---16159---16135---16085---16074---16024---15962.25, but sustained break below 15962.25 may accelerate the fall.

It is important to mention here that its long term technical setup is good for the uptrend to continue. The short term outlook has improved and one very important technical indicator has also become positive on the daily chart but on the weekly chart it was still negative last weekend which is concerning but if it continues it’s up journey then it may also come into positive territory this weekend and if does not then it may start drifting down. So till it comes into positive mode it is suggested that not to be fearless but be cautious and careful in your long trades.

In view of the above observation, for safe trades long trade can be tried if it moves above 16295 and maintain for some time, avoid buy on decline for the day. However aggressive traders can try buy on decline near 16238 or near 16159 but not below it. Please note that buying below 16238 could be a risky affair. It is in strong up move but still below some of its critical long term averages, therefore short trade can also be tried after reasonable rise or can be tried on the price breakdown for taking advantage of the intraday gains.

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 moves above 16295 and maintain for some time with a stop loss of 16230. It is for both the traders. It could be a risky trade.

Or

Buy on decline near 16238 and then near 16159 but not below it with a stop loss of 16200 and 16100 respectively. It is for the aggressive traders and could be a risky trade.

2. Sell on the rise near or within the range of 16360---16375 for some time with a stop loss of 16410. It could be a risky trade but worth trying for intraday gain.

Or

Sell if it moves below 16238 and maintain for some time with a stop loss of 16275. It could be a highly risky trade but worth trying for intraday gain.

Or

Sell if it moves below 16159 and maintain for some time with a stop loss of 16200. It could be a highly 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---11.8.2021

 

CNX-NIFTY

 Open—16274.80--High—16359.25—Low—16202.25---Close-16280.10 on 10.8.2021.

Support:16240/16223/16180/16074/16024/15962.25/15920/15915.65/15899.80/15885.75/15877/15835.55/15780/15673.95/15635.95/15632.75/15606.55/15578.55/15566/15471/15450.90/15431.75.                                                                                                                                                           

Resistance: -16345/16423/16583/16631/16690/17360/17503/19575/20390.           

 (Bold and underlined figures are most important)

It had a volatile day today and it hit a new all-time high of 16359.25 and then slipped to hit a low of 16202.25 but managed to close with a gain of 21.85 points. Today’s volatility was disturbing but it still looks good to move up and the upside target or resistance points would be 16354---16431---16584---16631---16690---16750,   please note that moving up the range of 16273—16345---16423 would be a very tough resistance range and it could correct in this range and it did reacted again today within this range, therefore it seems that it will be tough to cross this range, so be vigilant and alert in this range. Please note that break below 16159.64(it may change) could push it into very short term correction mode, but as long as it holds 15962.25 level there is no major threat to the uptrend. Similarly moving down it will find support at 16223---16159---16135---16085---16074---16024---15962.25, but sustained break below 15962.25 may accelerate the fall.

It is important to mention here that its long term technical setup is good for the uptrend to continue. The short term outlook has improved drastically and one very important technical indicator has also become positive on the daily chart but on the weekly chart it is still negative last weekend which is concerning but if it continues it’s up move then it may also come into positive territory this weekend and if does not then it may start drifting down. So till it comes into positive mode it is suggested that not to be fearless but be cautious and careful in your long trades.

In view of the above observation, for safe trades long trade can be tried if it moves above 16295 and maintain for some time, avoid buy on decline for the day. However aggressive traders can try buy on decline near 16238 or near 16159 but not below it. Please note that buying below 16238 could be a risky affair. It is in strong up move but still below some of its critical long term averages, therefore short trade can also be tried after reasonable rise or can be tried on the price breakdown for taking advantage of the intraday gains.

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 moves above 16295 and maintain for some time with a stop loss of 16240. It is for both the traders.

Or

Buy on decline near 16238 and then near 16159 but not below it with a stop loss of 16200 and 16100 respectively. It is for the aggressive traders and could be a risky trade.

2. Sell on the rise near or within the range of 16350---16360 for some time with a stop loss of 16390. It could be a risky trade but worth trying for intraday gain.

Or

Sell if it moves below 16238 and maintain for some time with a stop loss of 16275. It could be a highly risky trade but worth trying for intraday gain.

Or

Sell if it moves below 16150 and maintain for some time with a stop loss of 16200. It could be a highly 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—11.8.2021

 

CNX--BANK NIFTY

Open-35954.55---High-36317--Low—35890.50---Close-36034.10 on 10.8.2021

Support:35985.25/35811/35648/35584.30/35491.95/35428.15/35380/34976/34930/34859.90/34663/34635.95/34555/34525.45/34410/34374/34357.35/34322/34287/34115.20/33908.95/33625/33371/33306.80/32842.30/32613.10/32465.45/32415.15/32347/32157.05/32130/31783.60/31661/31649.49/31297.30/31264.05. 

Resistance;36248/36317/36455.15/36497/36615/37100/37232/37708.75/39010/39695/.

(Bold and underlined figures are most important) 

It had a volatile day but eventually it closed with a meager gain of 5.15 points. It seems that it is on track to move up further, but today’s move was concerning and please note that break below 35797(it may change) on the closing basis will push it into very short term corrective mode and  going down it will find good support at 35648---35576---35186---34859.90---34632.60---34525---34410---34115---33908. It is important to mention here that for a steady and strong up momentum, it has to move above 36248 and sustain on the closing basis then it could possibly retest its all time high of 37708.75 or may go beyond also. Going up to the level of 37708.75 it will face resistance at 36248---36497---36615---37232---37417 points. It is important to mention here that it has been trying to cross the critical point of 36248 for the last five days and today it moved above this mark intraday but failed to close above it. Please note that if it is not able to cross it during this week on the closing basis then it may possibly start drifting down again which may please be noted.

It is important to mention here that its long term technical setup is good for the uptrend to continue. The short term outlook has improved drastically and one very important technical indicator has also become positive on the daily chart but on the weekly chart it is was still negative last weekend which is concerning but if it continues it’s up journey then it may also come into positive territory this weekend and if does not happen then it may start drifting down. So till it comes into positive mode it is suggested that not to be fearless but be cautious and careful in your long trades.

In view of the above observation, long trade can be tried if it moves above 36248 and maintain for some time or buy on decline near 35809 but not below it. However aggressive traders can also buy if it moves above 36040 and maintain for some time.  Since it has not yet crossed some of its critical long term averages, therefore short trade can also be tried after reasonable rise or can be tried on the price breakdown for taking advantage of the intraday or otherwise 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 moves above 36248 and maintain for some time with a stop loss of 36000.It is for both the traders.

Or

Buy on decline at appropriate points or near 35809 but not below it with a stop loss 35690. It is for both the traders and could be a risky trade.

Or

Buy if it moves above 36040 and maintain for some time with a stop loss of 35870.It is for the aggressive traders and could be a risky trade.

2. Sell if it moves below 35797 and maintain for some time with a stop loss of 35900. It could be a risky trade but worth trying.

Or

Sell on the rise near or within the range of 36450---36500 with a stop loss of 36600 It could be a highly 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.