INTRA-DAY TRADING CALLS FOR 28.9.2021

 

TRADING CALLS

 

1.BAJAJ AUTO.

Buy above 3924, S/L-3900, Target-3965/3990/4030. 

2. BHARTI AIRTEL.

Sell below 720, S/L-725, Target—715/712/702/687. 

3. DIVIS LAB.

Sell below 4925, S/L-4940, Target-4824/4757. 

4. DR.REDDYS LAB.

Buy above-4806, S/L-4790, Target-4840/4880/4920. 

5. EICHER MOTORS.

Sell below-2868, S/L-2888, Target-2846/2808/2756. 

6. HCL TECH.

Sell below-1290, S/L-1305, Target-1267/1250/1240/1200. 

7. HERO MOTOR CORP.

Buy above-2928, S/L-2908, Target-2955/2993/3010. 

8. HINDUSTAN UNILIVER.

Sell below-2699, S/L-2715, Target-2653/2636/2610. 

9. INFOSYS.

Sell below-1718, S/L-1730, Target-1706/1693/1675/. 

10. WIPRO.

Sell below-651, S/L-655, Target-643/625/618. 

11. MARUTI SUZUKI.

Sell near-7480, S/L-7495, Target-7448/7403/7366. 

12. RELIANCE INDUSTRIES.

Buy if it holds 2505, S/L-2490, Target-2530/2548/2575/2600

Or

Buy above-2530, S/L-2515, Target-2548/2575/2600. 

13. TECH MAHINDRA.

Sell below-1459, S/L-1470, Target-1420/1406/1370. 

IMPORTANT: - Please note that these are intraday calls valid for the day only and does not reflect the overall trend of the stock. 

                    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—28.9.2021

 

CNX--BANK NIFTY

Open-38054.75---High-38355.20--Low—37968.20---Close-38171.25 on 27.9.2021.

Support:38112.75/37811.95/37708.75/37232/37140/36615/36525.95/36317/36248/36151.95/35531/34817.50. 

Resistance :- 38545/38719-743/38888/38914/39093/39695/40234/40337/40498/40680/40746/40855/41169.

(Bold and underlined figures are most important) 

It opened on a positive note and went up further and made new all-time high of 38355.20 and finally closed with a gain of 340.95 points and crossed double top of 38112.75, which is a positive sign. The price movement is exhibiting good strength therefore it seems that the uptrend should continue off course with intermittent correction. Moving up from here its target or critical resistance point could be at 38355---38545---38743---38914---39093---39340---39770---40234---40500---40680(figures may change) it could correct at any of these points before moving up further. Similarly moving down its critical support points would be at 37923.50--37835---37795.40---37520---37306---36900.50---36880---36655---36393---36248(figures may change) , break below 37923.50 & 37835 on the closing basis will push it into very short term correction mode, sustained break below 37795 on the closing basis will weaken it further, break below 37520.30 will push it into short term corrective mode and sustained break below 37305.90 on the closing basis could push it into deep short term corrective mode which could drag it down further. Please note that its most important and solid support range is 36915---36693---36431---36248(figures may change) therefore break below 36915 on the closing basis could be a strong warning signal for long trade and  sustained break below 36393 and finally  break below 36248 on the closing should be the exit point. Similarly moving up its most critical resistance range would be between 39005---39770(figures may change); break above this range will accelerate the up momentum.

It is important to mention here that its long term technical setup is good for the uptrend to continue. The short term technical setup is also good, furthermore the technical indicators have also turned positive, therefore up move is likely to continue in coming days with in between down move. The short & long term bias is positive as of now.

In view of the above observation, for safe traders long trade can be tried if it holds 38112.75 levels for some time and avoid buy on decline for the day. However, aggressive traders can also try long trades on decline near the range of 37923----37835 but not below it. It is in the uptrend but intraday correction always happens, therefore short trade can also be attempted after reasonable rise or can be tried on the price breakdown for taking advantage of the intraday gains. Please note that short trade could be a risky proposition as it is in the uptrend, so be alert and watchful in the short trade.

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 the range of 37923---37835 with a stop loss of 37700. It is for the aggressive traders and could be a risky trade.

Or

Buy if it holds 38112.75 for some time with a stop loss of 37800. It is for both the traders.

2. Sell if it moves below 37700 and maintain for some time with a stop loss of 37850. It could be a risky trade but worth trying for intraday gains.

Or

Sell if it does not move above 38360 in first one and half hour of trade with a stop loss of 38450. It could be a risky trade but worth trying for intraday gains.

Or

Sell on the rise near or within the range of 38650---38750 with a stop loss of 38850. 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---28.9.2021

 

CNX-NIFTY

 Open—17932.20--High—17943.50—Low—17802.90---Close-17855.10 on 27.9.2021.

Support:17792.95/17756/17700/17630/17458/17436.50/17254.20/17055/16701.85/16656.60/16376.05/16349.45/16162.55/15962.25.                                                                                                                                                           

Resistance: -17920/17947.65/17971/18027/18081/18548/19303.70/19575/20390.09.        

 (Bold and underlined figures are most important)

It opened up on a positive note today and went up further and came pretty close to its all time high of 17947.65 but could not cross it and slipped to make a low of 17802.80 but bounced back again and finally closed with a meager gain of 1.90 points. It is still looking good for the continuation of the up move provided it holds the key levels, but moving up from here its target points or stiff resistance points could be at 17920---17947.65---17971---18027---18062---18081.50---18548(figures may change), it could correct at any of these points before moving up further and it did retreated again for the second day from 17920—17971 range today but it is still o.k. pricewise. It seems that for further steady up momentum it has to cross the range of17920—17971 and sustain on the closing basis. Similarly moving down its critical support points would be at 17800---17792.95---17784---17700---17576.75---17526---17373---17358(figures may change) , break below 17800 &17784 (figure may change) on the closing basis will push it into very short term correction mode, sustained break below 17700 on the closing basis will weaken it further, sustained break below 17576.75 & 17526 will push it into short term corrective mode and sustained break below 17358 on the closing basis could push it into deep short term corrective mode which could drag it down with an accelerated pace. But if it holds the range of 17800---17784 (figure can change) then the up move shall continue with intermittent correction.  

 It is important to mention here that its long term technical setup is good for the uptrend to continue. It is out of corrective mode also but certain important technical indicators are giving weak signal and for the last two days it is not holding the prices at the upper level and breaking previous day’s low, which is concerning, therefore one has to be cautious and alert till the indicators turn positive or it crosses the tough range of 17920--17971.  I once again repeat that till it holds the range of 17800---17784 on the closing basis then it is likely that the up move shall continue. It is suggested to avoid long trade below the aforesaid range. The long term bias is positive as of now. The short term bias is still positive but little caution is to be exercised in wake of the weak technical indicators and weak price patter for the last two days.

In view of the above observation, long trade can be tried if it holds the range of 17800—17784 but not below it or if it moves above 17950 and sustain for some time. However aggressive traders can also try long trade on sharp decline near 17700, but please note that long trade below 17784 could be a risky affair. It is in the uptrend  but intraday corrections always happens as it has been happening for last two trading sessions, therefore short trade can also be attempted after reasonable rise and at appropriate point or can be tried on the price breakdown for taking advantage of the intraday gains. Please note that short trade could be a risky affair as it is in the uptrend, so be alert and watchful in short trade.

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 if it holds the range of 17800-17784 with a stop loss of 17750. It is for both the traders.

Or

Buy if it moves above 17950 and maintain for some time with a stop loss of 17920. It is for both the traders and could be a risky trade.

Or

Buy on decline near 17700 with a stop loss of 17650. It is for the aggressive traders and could be a highly risky trade.

2. Sell it on the rise near 17950 with a stop loss of 17980. It could be a highly risky trade but worth trying for intraday gain.

Or

Sell if it moves below 17760 and maintain for some with a stop loss of 17825. 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 UPDATE ON NASDAQ COMPOSITE –26.9.2021

 

NASDAQ COMPOSITE

Open—14962.41--High—15067.56—Low—14947.65—Close—15047.70 on 24.9.2021.

Support:14984.68/14939.56/14896.47/14803.68/14753.93/14584.09/14530.07/14503.70/14424.33/14371.59/14178.66/13907.86

Resistance: 15085.44/15205.50/15288.05/15403.44

(Bold and underlined figures are most important)

It hit an all-time high of 15403.44 on 7.9.2021 and then started correcting and made a recent bottom of 14530.07 on 20.9.2021. It is still into corrective mode but pullback rally is on and it could come out of corrective mode if it closes above 15172.37 and sustain and thereafter if it moves above 15228.77 and sustain on the closing basis then it could retest it all-time high of 15403.44 or may go beyond it also. Moving up further from 15403.44 levels, it will face very stiff resistance in the range of 15430---15600(figures may change daily). It is important to mention here that some important technical indicators are showing distinct weakness on the daily & weekly chart as of now which is highly concerning therefore it seems that the up journey from here may not be smooth. Furthermore its long term uptrend threshold point range is between 14365---14206(figures may scale up every day) and sustained break below this range will potentially threaten the uptrend which may please be noted.

REMARKS: -- The long term trend is still up. The overall bias is mixed with slight tilt towards downside in short term as of now. Therefore it is suggested to be cautious particularly in the long trade at this point of time.

NOTE: - It is a technical assessment of the indices as of now, the technical interpretation changes with the price movement and time; therefore it needs periodic updating, which may please be noted.

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 27.9.2021

 

TRADING CALLS

 

1.ADANI PORT.

Sell below 743, S/L-747, Target-738/734/727/713. 

2. AXIS BANK.

Sell below 795, S/L-802, Target—789/781/772. 

3. DIVIS LAB.

Sell below 5092, S/L-5112, Target-5059/5001/4950/4900. 

4. HDFC LTD.

Buy above-2850, S/L-2835, Target-2875/2896/2920/2940. 

5. ICICI BANK.

Buy above-725, S/L-720, Target-732/735/745. 

6. HDFC BANK.

Buy above-1608, S/L-1595, Target-1636/1641/1710. 

7. SBI.

Sell below-440, S/L-443, Target-433/425/418. 

8. TECH MAHINDRA.

Sell below-1511, S/L-1520, Target-1478/1456/1420. 

9. ULTRATECH CEMENT.

Sell below-7500, S/L-7530, Target-7437/7288/7173. 

10. WIPRO.

Sell below-675, S/L-680, Target-658/652/645. 

11. BANDHAN BANK.

Sell below-281, S/L-284, Target-277/273/270/259. 

12.GODREJ CONSUMER PRODUCTS.

Sell below-1037, S/L-1045, Target-1025/1000/970/957. 

13. LUPIN.

Sell below-922, S/L-930, Target-914/912/875. 

14.TATA CONSUMER PRODUCTS.

Sell below-834, S/L-840, Target-823/798/788. 

IMPORTANT: - Please note that these are intraday calls valid for the day only and does not reflect the overall trend of the stock. 

                    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 UPDATE ON CRUDE OIL LIGHT (NYMEX) –25.9.2021

 

CRUDE OIL LIGHT (NYMEX)

Open---$77.25---High---$78.24---Low---$76.90---Close---$78.05---on 25.9.2021.

Support:$77.83/76.70/76.12/75.64/73.27/72.02/71.28/70.42/67.61/67.48/64.96/64.57.

Resistance: $79.60/80.50/82.90/86.74/88.49/89.58/96.75/98.74/105.92/113.02/115.71/121.20.

(Bold and underlined figures are most important)

It is on a strong technical footing as of now and most importantly on the verge of giving major upside breakout from its downtrend line drawn from the all-time high top of $147.25 it made on 11.7.2008. Please note that the breakout points are $80.40 & 79.90 for the month of September & October-2021 respectively and if it gives breakout and sustains it on the closing basis then it could be heading for good rise. Moving up its target or stiff resistance points could be at $83---90---97.50---102---105---114---121.20. Similarly if it fails to give breakout then it could fall and moving down it will find good support at $76.51---75.11---74---68.21(figure can change if it moves above $78.24), break below $76.51 will push it into very short term correction mode, break below $75.11 will push it into short term correction mode, break below $74 will push it into deep short term correction mode and break below $68.21 will push it into medium term correction mode. The overall technical setup as of now indicates that the chances of upside breakout look great in coming days.

REMARKS:--The long term bias is up and short term outlook is also positive as of now.   

NOTE: - It is a technical assessment of the indices as of now, the technical interpretation changes with the price movement and time; therefore it needs periodic updating, which may please be noted.

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 UPDATE ON S&P 500 INDEX –25.9.2021

 

S&P 500 INDEX

Open---4438.04---High---4463.12---Low---4430.27---Close---4455.48---on 24.9.2021.

Support: 4435.46/4429.97/4393.68/4367.73/4305.91/4289.37/4233.13/4167.50

4164.40/4128.43/4118.38/4061.41/4056.88/3990.31/3886.75/3853.50/

Resistance:4465.40/4468.99/4480.26/4486.87/4501.71/4537.36/4545.85/4611.11/4637.51/4694.13.

(Bold and underlined figures are most important)

It hit an all-time high of 4545.85 on 2.9.2021 and then started correcting and made a recent bottom of 4305.91 on 20.9.2021. It is still into corrective mode but pullback rally is on and it could come out of corrective mode if it closes above 4503.81 and sustain then it could retest it all-time high of 4545.85 or may go beyond it also. Moving up further from 4545.85 levels, it will face very stiff resistance in the range of 4553---4600(figures may change daily). It is important to mention here that some important technical indicators are showing distinct weakness on the daily & weekly chart as of now which is highly concerning therefore it seems that the up journey from here may not be smooth. Furthermore its long term uptrend threshold point range is between 4276---4090(figures may scale up every day) and sustained break below this range will potentially threaten the uptrend and finally break below 3990.31 (figure may change) will push it into long term corrective mode which may be kept in mind. Please note that it did come near to the threshold point upper band but bounced back. In view of the above observation, it is suggested to be alert in long trade below 4276 and exit long position if it closes below 4090 and sustain.

REMARKS:--The overall bias is mixed with slight tilt towards downside as of now. Therefore it is suggested to be cautious particularly in the long trade.

NOTE: - It is a technical assessment of the indices as of now, the technical interpretation changes with the price movement and time; therefore it needs periodic updating, which may please be noted.

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 UPDATE ON DOW JONES INDUSTRIAL AVERAGE –25.9.2021

 

DOW JONES INDUSTRIAL AVERAGE

Open—34762.31--High—34857.06—Low—34650.88—Close—34798 on 24.9.2021.

Support:34715.21/34691.58/34510.30/34256.75/34145.59/33741.76/33687.01/33613.03/33473.80/33271.93/33227.78/32074.60.

Resistance:34849.32/34879.78/35091.56/35192.11/35510.71/35631.19/35940/36180.13/36402.13/36610/36878.41

(Bold and underlined figures are most important)

It hit an all-time high of 35631.19 on 16.8.2021 and then started correcting and made a recent bottom of 33613.03 on 20.9.2021. It is still into corrective mode but pullback rally is on and it could come out of corrective mode if it closes above 35075 and sustain and thereafter if it moves above 35227.56 and sustain on the closing basis then it could retest it all-time high of 35631.19 or may go beyond it also. Moving up further from 35631.19 levels, it will face very stiff resistance in the range of 35940---36610(figures may change daily). It is important to mention here that some important technical indicators are showing distinct weakness on the daily & weekly chart as of now which is highly concerning therefore it seems that the up journey from here may not be smooth. Furthermore its long term uptrend threshold point range is between 34332---32980(figures may scale up every day) and sustained break below this range will potentially threaten the uptrend and finally break below 31520.65 (figure may change) will push it into long term corrective mode which may be kept in mind. Please note that it did break the upper band of the range recently but fortunately bounced back but breaking it was a weak indication. In view of the above observation, it is suggested to be alert in long trade below 34332 and exit long position if it closes below 32980 and sustain.

REMARKS:--The overall bias is mixed with slight tilt towards downside as of now. Therefore it is suggested to be cautious particularly in the long trade.

NOTE: - It is a technical assessment of the indices as of now, the technical interpretation changes with the price movement and time; therefore it needs periodic updating, which may please be noted.

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.