A TECHNICAL VIEW ON CNX-NIFTY FOR---6.9.2021

 

CNX-NIFTY

 Open—17262.45--High—17340.15—Low—17212.20---Close-17323.60 on 3.9.2021.

Support:17229/16996/16903/16826/16790/16701.85/16701.85/16688/16677/16376.05/16359.25/16240/16223/16180/16162.55/16074/16024/15962.25/15920/15915.65/15899.80/15885.75/15877/15835.55/15780/15673.95/15635.95/15632.75/15606.55/15578.55/15566/15471/15450.90/15431.75.                                                                                                                                                           

Resistance: -17340.10/17415/17504/17756/19575/20390.                    

 (Bold and underlined figures are most important)

It is in very strong up move and making new all time high frequently and for the last six days in a row it has made new high every day and today it closed with a gain of 89.45 points. It is in strong uptrend and exhibiting strength and the on-going up move is expected to continue off course with intermittent correction and provided it holds its key support points of 17157---17112---17062---16909(figures may change) on the down move, break below 17157 can push it into very short term correction mode, sustained break below 17112 &17062 will weaken it further and break below 16909 will push it into deep short term correction mode and may accelerate the fall. Moving up its potential target or resistance points would be at 17415---17420---17504---17756---19575---20390.

It is important to mention here that its long term technical setup is good for the uptrend to continue. The short term technical outlook is very strong as of now; therefore further rise is expected to continue off course with in between corrective move from time to time and provided it holds its critical support points mentioned above. The bias is hugely positive as of now but caution should be exercised in long trade with every rise in it.

In view of the above observation,  long trade can be tried if it moves above 17341 and maintain for some time or on decline  at appropriate points or near 17157 and not below it. However, aggressive traders can also try long trade on decline at appropriate points or near 17076 but not below it. It is in strong up move but intraday correction will always happen, 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 17341 and maintain for some time with a stop loss of 17290. It is for both the traders and could be a risky trade.

Or

Buy on decline at appropriate points or near 17157 but not below it with a stop loss of 17100. It is for both the traders.

Or

Buy on decline at appropriate points or near 17076 but not below it with a stop loss of 17030. It is for the aggressive traders and could be a risky trade.

2. Sell on the rise near or within the range of 17400---17425 with a stop loss of 17455. It could be a highly risky trade but worth trying for intraday gain.

Or

Sell if it moves below 17076 and maintain for some with a stop loss of 17130. 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—6.9.2021

 

CNX--BANK NIFTY

Open-36883.65---High-37140--Low—36563.20---Close-36761.15 on 3.9.2021

Support:36615/36553/36497/36455.15/36248/35985.25/35811/35648/35584.30/35491.95/35428.15/35380/34976/34930/34859.90/34663/34632.60/34555/34525.45/34410/34374/34357.35/34322/34287/34115.20/33908.95/33625/33371/33306.80/32842.30/32613.10/32465.45/32415.15/32347/32157.05/32130/31783.60/31661/31649.49/31297.30/31264.05. 

Resistance;37100/37140/37232/37708.75/38743/39010/39695/40498/40855/42222/42808.

(Bold and underlined figures are most important) 

It opened on a flat to positive note and went up further and made an intraday high of 37140 but could not sustain at the upper levels and finally closed with a loss of 70.15 points. But as long as it sustains above its critical point of 36248 on the closing basis then it could possibly retest its all time high of 37708.75 or may go beyond it also. Going up to the level of 37708.75 it will face resistance at 37100---37140---37244---37417 points. Similarly moving down its critical support points would be at 36591.90---36553---36426---36377.50---36248---36140(figures may change), please note that break below 36591.90 will push it into very short term correction mode, sustained break below 36377.50 on the closing basis will push it into deep short term correction mode and sustained break below 36248 & 36140 on the closing basis may accelerate the fall, which may be kept in mind.

It is important to mention here that its long term technical setup is still good for the uptrend to continue till it holds 34823(figure will change every day) on the closing basis. The short term technical setup is also looking good as of now but it is not exhibiting enough strength in comparison with Nifty-50, furthermore one very important technical indicator is still weak on the weekly charts this weekend also, which is slightly concerning and if it does move up sharply in coming weak then it may slip down , so watch out and be alert in long trade at this point of time. However as long as it holds 36248 levels on the closing basis it seems o.k. for the continuation of the up move.

In view of the above observation, long trade can be tried if it moves above 36835 and maintain for some time or buy on decline near 36590 and finally near 36248 but not below it. It is suggested to avoid buy on decline below 36590 for the day. It is in the uptrend but it is not that strong enough at this point of time, 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 36835 and maintain for some time with a stop loss of 36710.It is for both the traders.

Or

Buy on decline at appropriate points or near 36590 but not below it with a stop loss of 36400. It is for both the traders.

Or

Buy on decline near 36248 but not below it with a stop loss of 36100. It is for both the traders. It could be a risky trade.

2. Sell if it moves below 36400 and maintain for some time with a stop loss of 36600. It could be a highly risky trade but worth trying for intraday gains.

Or

Sell on the rise near or within the range of 37250---37350 with a stop loss of 37450. 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—3.9.2021

 

CNX--BANK NIFTY

Open-36588.40---High-36895.55--Low—36469---Close-36831.30 on 2.9.2021

Support:36615/36553/36497/36455.15/36248/35985.25/35811/35648/35584.30/35491.95/35428.15/35380/34976/34930/34859.90/34663/34632.60/34555/34525.45/34410/34374/34357.35/34322/34287/34115.20/33908.95/33625/33371/33306.80/32842.30/32613.10/32465.45/32415.15/32347/32157.05/32130/31783.60/31661/31649.49/31297.30/31264.05. 

Resistance;37100/37232/37708.75/38743/39010/39695/40498/40855/42222/42808.

(Bold and underlined figures are most important) 

It continued the up move today and closed with a gain of 257 points. It is well above its critical point of 36248 which is a positive sign and if it sustains above it on the closing basis then it could possibly retest its all time high of 37708.75 or may go beyond it also, chances of which looking pretty good at this point of time. Going up to the level of 37708.75 it will face resistance at 36700---37100---37244---37417 points. Similarly moving down its critical support points would be at 36553---36483---36248---36130(figures may change), please note that break below 36553 would be an alert sign for long trade, break below 36483 will push it into very short term correction mode and sustained break below 36248 on the closing basis will push it into deep short term correction mode and break below 36100 may accelerate the fall, which may be kept in mind.

It is important to mention here that its long term technical setup is still good for the uptrend to continue till it holds 34791(figure will change every day) on the closing basis. The short term technical setup is also looking good as of now. Furthermore one very important technical indicator has also turned positive on the daily chart but still weak on the weekly charts, however if it continues to move up it may turn positive this weekend, so watch out. The short term bias now looks positive as long as it holds 36248 levels on the closing basis.

In view of the above observation, long trade can be tried if it moves above 36900 and maintain for some time or buy on decline near 36650 and finally near 36248 but not below it. It is suggested to avoid buy on decline below 36650 for the day. It is in the uptrend but it is not that strong enough at this point of time, 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 36900 and maintain for some time with a stop loss of 36700.It is for both the traders.

Or

Buy on decline at appropriate points or near 36650 with a stop loss of 36500. It is for both the traders.

Or

Buy on decline near 36248 but not below it with a stop loss of 36100. It is for both the traders. It could be a risky trade.

2. Sell if it moves below 36100 and maintain for some time with a stop loss of 36270. It could be a risky trade but worth trying for intraday gains.

Or

Sell on the rise near or within the range of 37250---37350 with a stop loss of 37450. 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---3.9.2021

 

CNX-NIFTY

 Open—17095.40--High—17245.50—Low—17059.70---Close-17234.05 on 2.9.2021.

Support:17229/16996/16903/16826/16790/16701.85/16701.85/16688/16677/16376.05/16359.25/16240/16223/16180/16162.55/16074/16024/15962.25/15920/15915.65/15899.80/15885.75/15877/15835.55/15780/15673.95/15635.95/15632.75/15606.55/15578.55/15566/15471/15450.90/15431.75.                                                                                                                                                           

Resistance: -17415/17504/17756/19575/20390.                                    

 (Bold and underlined figures are most important)

It opened on a positive note today after yesterday’s short correction and steadily moved up during the day and hit a new all-time high of 17245.50 and closed near the high with a gain of 157.90 points. It is in strong uptrend and exhibiting strength and geared up for further up move off course with intermittent correction and provided it holds its key support points of 17135---17085---17040---16990---16836.75(figures may change) on the down move, break below 17135 would be an alert sign for the long trade, break below 17085 can push it into very short term correction mode, sustained break below 17040 &16990  will weaken it further and break below 16836.75 will push it into deep short term correction mode and may accelerate the fall. Moving up its potential target or resistance points would be at 17415---17504---17756---19575---20390.

It is important to mention here that its long term technical setup is good for the uptrend to continue. The short term technical outlook is also good as of now; therefore further rise is expected to continue off course with in between corrective move from time to time and provided it holds its critical support points mentioned above. The bias is hugely positive as of now but caution should be exercised in long trade with every rise in it.

In view of the above observation, for safe traders long trade can be tried if it moves above 17246 and maintain for some time or on decline  at appropriate points or near 17135 and not below it. However, aggressive traders can also try long trade on decline at appropriate points or near 17085 but not below it. It is in strong up move but intraday correction will always happen, 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 17246 and maintain for some time with a stop loss of 17180. It is for both the traders.

Or

Buy on decline at appropriate points or near 17135 with a stop loss of 17110. It is for both the traders.

Or

Buy on decline at appropriate points or near 17085 with a stop loss of 17030. It is for the aggressive traders and could be a risky trade.

2. Sell on the rise near or within the range of 17390---17425 with a stop loss of 17440. It could be a highly risky trade but worth trying for intraday gain.

Or

Sell if it moves below 17030 and maintain for some with a stop loss of 17090. 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—2.9.2021

 

CNX--BANK NIFTY

Open-36591.45---High-36997.70--Low—36487.15---Close-36574.30 on 1.9.2021

Support:36553/36497/36455.15/36248/35985.25/35811/35648/35584.30/35491.95/35428.15/35380/34976/34930/34859.90/34663/34632.60/34555/34525.45/34410/34374/34357.35/34322/34287/34115.20/33908.95/33625/33371/33306.80/32842.30/32613.10/32465.45/32415.15/32347/32157.05/32130/31783.60/31661/31649.49/31297.30/31264.05. 

Resistance;36615/37100/37232/37708.75/39010/39695/.

(Bold and underlined figures are most important) 

It had strong up move during the day but could not sustain at the higher levels but closed with a gain of 149.70 points. It is holding its critical point of 36248 which is a positive sign and if it sustains above it on the closing basis then it could possibly retest its all time high of 37708.75 or may go beyond it also. Going up to the level of 37708.75 it will face resistance at 36592---36655---36724---36810---37100---37244---37417 points. Similarly moving down its critical support points would be at 36553---36483---36248---36100(figures may change), please note that break below 36553 would be an alert sign for long trade, break below 36483 will push it into very short term correction mode and sustained break below 36248 on the closing basis will push it into deep short term correction mode and break below 36100 may accelerate the fall, which may be kept in mind.

It is important to mention here that its long term technical setup is still good for the uptrend to continue till it holds 34760(figure will change every day) on the closing basis. The short term technical setup is also looking good as of now. Furthermore one very important technical indicator has also turned positive on the daily chart but still weak on the weekly charts, however if it continues to move up it may turn positive this weekend, so watch out. The short term bias now looks positive as long as it holds 36248 levels on the closing basis.

In view of the above observation, long trade can be tried if it moves above 36670 and maintain for some time or buy near if it holds 36553 for some time and finally near 36248 but not below it. It is in the uptrend but it is not that strong enough at this point of time, 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 36670 and maintain for some time with a stop loss of 36530.It is for both the traders.

Or

Buy if it holds 36553 for some time with a stop loss of 36370. It is for both the traders.

Or

Buy on decline near 36248 but not below it with a stop loss of 36100. It is for both the traders.

2. Sell if it moves below 36100 and maintain for some time with a stop loss of 36270. It could be a risky trade but worth trying for intraday gains.

Or

Sell on the rise near or within the range of 37000---37100 with a stop loss of 37200. 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---2.9.2021

 

CNX-NIFTY

 Open—17185.60--High—17225.75—Low—17055.05---Close-17076.25 on 1.9.2021.

Support:16996/16903/16826/16790/16701.85/16701.85/16688/16677/16376.05/16359.25/16240/16223/16180/16162.55/16074/16024/15962.25/15920/15915.65/15899.80/15885.75/15877/15835.55/15780/15673.95/15635.95/15632.75/15606.55/15578.55/15566/15471/15450.90/15431.75.                                                                                                                                                           

Resistance: -17229/17415/17504/17756/19575/20390.                         

 (Bold and underlined figures are most important)

It opened with an up gap today and went up further and made a new all-time high of 17225.75 but could not sustain at the higher level and as expected it corrected after 7 days of rise and closed with loss of 55.95 points. It was a normal correction and it is still in strong uptrend and exhibiting strength, but please note that the gap it created on 30.8.2021 is still there and if it makes an effort to fill this gap in next 1-2 trading session, which is technically possible then it could come down to 16722 and if it does not fill this gap in the stipulated time then chances of filling it will fade out for now. It is important to mention here that today it closed below its important and alert point of 17110(it will change every day) for 2.9.2021, therefore till it moves above this mark and sustain it may not resume the steady up move. Moving down further its other critical support points would be at 17070---17025---16974---16923---16822(figures may change) since it is already below its alert point of 17110 therefore avoid long trade below this mark, break below 17070 can push it into very short term correction mode, sustained break below 17025---16974 & 16923 will weaken it further and break below 16822 will push it into deep short term correction mode and may accelerate the fall. I once again reiterate that if it moves above its most critical point of 17110(figure will change every day) and sustains on the closing basis then it could be heading for the upside target of 17229---17415---17504---17756---19575---20390. It did come very close to 17229 intraday today but slipped down.

It is important to mention here that its long term technical setup is good for the uptrend to continue. The short term technical outlook is also good as of now; therefore further rise is expected to continue off course with in between corrective move from time to time and provided it holds its critical support points mentioned above. The bias is hugely positive as of now but caution should be exercised in long trade with every rise in it.

In view of the above observation, for safe traders long trade can be tried if it moves above 17154 and maintain for some time. However, aggressive traders can also try long trade if it moves above 17110 and maintain for some time, it is suggested to avoid buy on decline for both the traders for the day. It is in strong up move but intraday correction will always happen as it happen today, 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 17154 and maintain for some time with a stop loss of 17100. It is for both the traders. It could be a risky trade.

Or

Buy if it moves above 17110 and maintain for some time with a stop loss of 17040. It is for the aggressive traders. It could be a risky trade.

2. Sell on the rise near or within the range of 17230---17250 with a stop loss of 17280. It could be a highly risky trade but worth trying for intraday gain.

Or

Sell if it moves below 17025 and maintain for some with a stop loss of 17085. It could be a highly risky trade but worth trying for intraday gain.

Or

Sell if it does not move above 17154 in first one and half hour of trade even intraday with a stop loss of 17190 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.