A TECHNICAL VIEW ON CNX-NIFTY FOR—13.7.2022

 

CNX-NIFTY

 Open—16126.20--High—16158.75—Low—16031.15---Close-16058.30 on 12.7.2022.

Support:15991//15986.42/15962.25—914---903---895/15775/15735.75/15671.45/15632.72/15578.55/15566/15513.45/15511.05/15450.90/15431.75/15367.50/15183.40.                                                                                                                                                           

Resistance:16133.57/16162.55/16172.60/16203.25/16275.50/16376.05/16410.20/16472/16490//16565/16695/16701.55/16752.40/16793.85/16824.70---833---837/16888.70/16891.70/16894/17006--003.

 (Bold and underlined figures are most important)

It sharply corrected today and closed with a loss of 157.70 points. It slipped into very short corrective mode today as it is below its threshold point of 16095.89 and break below the range of 16017---15991---15986.42 will weaken it further and close below 15810(as of now, this figure may change) may signal the end of this rally.  But it is still positive on the daily chart on all important parameters as of now, so up move may continue once this correction ends and provided it hold its key points. It is important to mention here that in all probability it is a pullback rally and you are well aware that these rallies can end abruptly as it happened in the past also and I have always alert you about it from time to time, so although up move is still on and short term bias is up now, but one should be extremely alert and vigilant in the long trade at this juncture.

 However moving up it will face stiff resistance at 16095.89---16173---16276---16376---16414---16435---16472---16490---16662---16793.55---16894 and this rally may end at any of these points or earlier also, but if it moves above 16435(this figure change may every day) and sustain on the closing basis then, it may show meaningful strength and the rally can extend further. I once again reiterate that as it broke 16095.89 on the closing basis therefore it slipped into very short corrective mode today and sustained break below the range of 16017---15991---15986.42 on the closing basis may weaken it further and finally if it closes below 15810 then it may signal the end of the rally and down move may start. So be watchful.

In view of the above observation, long trade can be tried if it moves above 16221 and maintains for some with a stop loss of 16130 or on decline  near  or within the range of 16017---15991---15986.42 but not below this range with a stop loss of 15940. Today’s corrective move could be a signal of the end of the rally if it does not bounce back above its key points. Therefore,  it is suggested to be extremely cautious and watchful in the long trade at this point of time. Short trade can also be attempted on the rise near or within the range of 16160---16220 with a stop loss of 16290 or on the price breakdown i.e. sell below 15940 with a stop loss of 16030 for intraday corrective gains. The short term trend is positive as of now, but the medium and long term trend is still in danger.

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.

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--13.7.2022

 

CNX-BANK NIFTY

Open—35298.70---High—35419.65---Low—35047.50---Close—35132.25 on 12.7.2022.

Support:35100/35016.30/34817.50/34658.70/34650.95/34528/34327/34287/34233/34018.85/33908.95/33273.95/33080.45/33001/32842.30/32652.15/32415.25/32290.55/32155.35/32115.05/31906.55.

 

Resistance:35327.90/35481.70/35511//35585.20/35762/35810.90/35926/35985.25/36083.70/36375.35/36497.35/36651.85/36718.80/36876.35/37232.20/37581.05/37708.75/37988.60.

(Bold and underlined figures are most important).

After 4 days of rise it sharply corrected today and closed with a loss of 337.40 points. But it is still above its important point of 35102(this figure may change every day) and as long as it holds this point chances of moving up will be alive. But it may pick up strong up momentum only once it crosses its critical resistance range of 35481—35585---35762. It is still positive on the daily chart on all important parameters as of now, so the up move may continue. It is important to mention here that in all probability it is a pullback rally and you are well aware that these rallies can end abruptly as it happened in the past also, so although up move is indicating strength and short term bias is up now, but one should be extremely alert and vigilant in the long trade at this juncture.

Moving up it may face stiff resistance at 35327.90---35481---35485---357162---35850---35958.45---36084 and this rally may end at any of these points or earlier also. But I once again reiterate that if it moves above the range of 35481—35585---35762 and sustain on the closing basis then it may pick up strong up momentum and rally can extend further. In this context please note that if it holds 35105 levels (this figure will change every day) on the closing basis, then the chances will remain intact for the up move to continue. Similarly moving down break below 34961(figure will scale up if it crosses it recent high of 35543.10) on the closing basis can push it into very short term corrective mode and sustained break below 34775.50(figure will scale up if it crosses it recent high of 35543.10)  may make the correction little deeper and sustained break below 34439 on the closing basis will indicate that up move will be difficult to resume and finally break below 33940 on the closing basis will indicate potential weakness in the on-going uptrend and break below 33815.90(figure may change as rally progress) on the closing basis may  end the ongoing up move for good and it may start down journey again. So watch out

In view of the above observation, long trade can be tried if it holds 35105 and maintains for some with a stop loss of 34900 or on decline near or within the range of 34775---34440 with a stop loss of 34300. Please note that long trade below 35105 could be a risky affair for the day. Today’s corrective move could be a signal of the end of the rally; if it does not bounce back above its key points. Therefore, it is suggested to be extremely cautious and watchful in long trade at this point of time. Short trade can also be attempted on the reasonable rise and at appropriate points or on the price breakdown for intraday corrective gains. The short term trend is positive as of now, but the medium and long term trend is still in danger. 

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.

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--12.7.2022

 

CNX-BANK NIFTY

Open—35017.60---High—35543.10---Low—35006.55---Close—35469.65 on 11.7.2022.

Support:35327.90/35100/35016.30/34817.50/34658.70/34650.95/34528/34327/34287/34233/34018.85/33908.95/33273.95/33080.45/33001/32842.30/32652.15/32415.25/32290.55/32155.35/32115.05/31906.55.

 

Resistance:35481.70/35511//35585.20/35762/35810.90/35926/35985.25/36083.70/36375.35/36497.35/36651.85/36718.80/36876.35/37232.20/37581.05/37708.75/37988.60.

(Bold and underlined figures are most important).

It opened weak on a note and but ended the day with a moderate gain of 345.59 points. It is exhibiting good strength in comparison with Nifty. It is still positive on the daily chart on all important parameters as of now, so the up move may continue. It is important to mention here that in all probability it is a pullback rally and you are well aware that these rallies can end abruptly as it happened in the past also, so although up move is indicating strength and short term bias is up now, but one should be extremely alert and vigilant in the long trade at this juncture.

Moving up it may face stiff resistance at 35481---35485---357162---35850---35958.45---36084 and this rally may end at any of these points or earlier also, but if it moves above the range of 35481—35585---35762 and sustain on the closing basis then it may pick up strong up momentum and rally can extend further. In this context please note that if it holds 35103 levels (this figure will change every day) on the closing basis, then the chances will remain intact for the up move to continue. Similarly moving down break below 34961(figure will scale up if it crosses it recent high of 35543.10) on the closing basis can push it into very short term corrective mode and sustained break below 34775.50(figure will scale up if it crosses it recent high of 35543.10)  may make the correction little deeper and sustained break below 34439 on the closing basis will indicate that up move will be difficult to resume and finally break below 33940 on the closing basis will indicate potential weakness in the on-going uptrend and break below 33815.90(figure may change as rally progress) on the closing basis may  end the ongoing up move for good and it may start down journey again. So watch out

In view of the above observation, long trade can be tried if it moves above 35586 and maintains for some with a stop loss of 35400 or on decline near or within this range of 35000----34961 but not below it stop loss of 34750. The highly aggressive traders can also try long trade on decline at appropriate points or near 34439 but not below it with a stop loss of 34250. It is suggested to be extremely cautious and watchful in long trade at this point of time because with every rise chances of rally fizzle out is also becoming greater till it moves above its critical points mentioned above. Short trade can also be attempted on the reasonable rise and at appropriate points or on the price breakdown for intraday corrective gains. The short term trend is positive as of now, but the medium and long term trend is still in danger. 

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.

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—12.7.2022

 

CNX-NIFTY

 Open—16136.15--High—16248.55—Low—16115.50---Close-16216 on 11.7.2022.

Support:16203.25/16172.60/16162.55/16133.57/15991//15986.42/15962.25—914---903---895/15775/15735.75/15671.45/15632.72/15578.55/15566/15513.45/15511.05/15450.90/15431.75/15367.50/15183.40.                                                                                                                                                           

Resistance:16275.50/16376.05/16410.20/16472/16490//16565/16695/16701.55/16752.40/16793.85/16824.70---833---837/16888.70/16891.70/16894/17006--003.

 (Bold and underlined figures are most important)

It opened weak on a note and ended the day with a meager loss of 4.59 points. It is still positive on the daily chart on all important parameters as of now, so up move may continue. It is important to mention here that in all probability it is a pullback rally and you are well aware that these rallies can end abruptly as it happened in the past also, so although up move is indicating strength and short term bias is up now, but one should be extremely alert and vigilant in the long trade at this juncture.

Moving up it will face stiff resistance at 16276---16376---16414---16440---16472---16490---16662---16793.55---16894 and this rally may end at any of these points or earlier also, but if it moves above 16440(this figure change may every day) and sustain on the closing basis then, it may show meaningful strength and the rally can extend further. Similarly moving down break below 16095.89(figure will move up if it crosses it recent high of 16275.50) on the closing basis can push it into very short term corrective mode and sustained break below the range of 16017---15991---15986.42 on the closing basis may end the rally for good and down move will start. But bounce back above this range may resume the up move again, which may please be noted.

In view of the above observation, long trade can be tried if it moves above 16276 and maintains for some with a stop loss of 16170 or on decline  near 16100 and then near or within the range of 16017---15991---15986.42 but not below this range with a stop loss of 16050 & 15940 respectively. The highly aggressive traders can also try long trade if it moves and maintains above 16250 for some time with a stop loss of 16200.  It is suggested to be extremely cautious and watchful in long trade at this point of time because with every rise chances of rally fizzle out is also becoming greater till it moves above the critical points mentioned above. Short trade can also be attempted on the rise near or within the range of 16250---16276 with a stop loss of 16340 or on the price breakdown for intraday corrective gains. The short term trend is positive as of now, but the medium and long term trend is still in danger.

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.

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--11.7.2022

 

CNX-BANK NIFTY

Open—35258.90---High—35262.10---Low—34977.75---Close—35124.05 on 8.7.2022.

Support:35100/35016.30/34817.50/34658.70/34650.95/34528/34327/34287/34233/34018.85/33908.95/33273.95/33080.45/33001/32842.30/32652.15/32415.25/32290.55/32155.35/32115.05/31906.55.

 

Resistance:35327.90/35481.70/35511//35585.20/35762/35810.90/35926/35985.25/36083.70/36375.35/36497.35/36651.85/36718.80/36876.35/37232.20/37581.05/37708.75/37988.60.

(Bold and underlined figures are most important).

The pullback rally is on and it has decisively crossed its critical point of 34439, which is a positive sign. Please note that it is above its short and some of the medium term moving averages now and some important technical indicators on the daily chart are also positive (but technical indicators are weak on the weekly and monthly chart as of now and it is still below its long term moving averages also, therefore it is very much likely to resume  down move again once the on-going rally ends ), furthermore it is also making higher top & bottom on the line and the bar chart, therefore all together it is showing good strength now and indicate that up move may continue for some more time. It is important to mention here that in all probability it is a pullback rally and you are well aware that these rallies can end abruptly as it happened in the past also, so although up move is indicating strength and short term bias is up now, but one should be extremely alert and vigilant in the long trade at this juncture.

Kindly note that moving up it may face stiff resistance at 35189---35262---35325---35481---35485---357162---35850---35958.45 and this rally may end at any of these points or earlier also, but if it moves above the range of 35481—35585---35762 and sustain on the closing basis then it may pick up strong up momentum and rally can extend further. In this context please note that if it holds 35104 levels (this figure will change every day) on the closing basis, then chances will remain intact that it may cross the above mentioned range. Similarly moving down break below 34823.65(figure will move up if it crosses it recent high of 35262.10) on the closing basis can push it into very short term corrective mode and sustained break below 34637 may make the correction little deeper and sustained break below 34439 on the closing basis will indicate that up move will be difficult to resume and finally break below 33940 on the closing basis will indicate potential weakness in the on-going uptrend and break below 33815.90(figure may change as rally progress) on the closing basis may  end the ongoing up move for good and it may start down journey again. So watch out

In view of the above observation, long trade can be tried if it moves above 35270 and maintains for some with a stop loss of 35050 or on decline near or within the range of 34637---34439  but not below this range with a stop loss of 34200. The highly aggressive traders can also try long trade on decline near 33940 but not below it with a stop loss of 33790. Please note that long trade below 34439 could be a risky affair. It is suggested to be extremely cautious and watchful in long trade at this point of time. Short trade can also be attempted on the reasonable rise and at appropriate points or on the price breakdown for intraday corrective gains. The short term trend is positive as of now, but the medium and long term trend is still in danger. 

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.

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.