A TECHNICAL VIEW ON CNX-NIFTY FOR—25.7.2022

 

CNX-NIFTY

 Open—16661.25--High—16752.25—Low—16610.90---Close-16719.45 on 22.7.2022.

Support:16701.95/16695/16627/16588/16565/16490/16472/16410.20/16376.05/16275.50/16203.25/16172.60/16162.55/16133.57/15991/15986.42/15962.25/15914/15895/15775/15735.75/15671.45/15632.72/15578.55/15566/15513.45/15511.05/15450.90/15431.75/15367.50/15183.40.                                                                                                                                                           

Resistance:16752.40/16793.85/16824.70---837/16888.70/16891.70/16894/16995/17006—003/17140/17298/17354.05/17387.15.

 (Bold and underlined figures are most important)

It is exhibiting good strength and continued the up move for the 6^th day in a row, but its vertical rise is a concern because a vertical rise may have vertical fall also, therefore if it corrects to some extent in a day or two and then resume the up move then it will be good for the continuation of the up move, else with every rise fear of sharp fall would always be there, because correction is bound to happen with this kind of straight rise. Please note that in correction it should not break below 16541(figure may change) and sustain because then the correction may deepen. Furthermore in next 2 days it could make an attempt to fill the gap also which it left on 20.7.2022 and if it does then it could come down to 16360. However, as of now the up move is likely to continue with intermittent down correction and if it holds 16490 on the closing basis then the next potential upside target could be 16894 and sustained close above it could take it to 17298 levels which may please be noted. Similarly sustained break below 16490 will weaken the rally and sustained break below 16418(figure will change every day) on the closing basis may end this up rally. Moving up it will face resistance at 16767---16794---16894---16995---17140---17175---17298---17354.05---17387.15. Similarly moving down key support points are at 16580---16541---16490---16418.

The overall short term technical setup looks pretty good as of now, furthermore some important technical indicators are positive on the daily chart and most importantly it is making higher top and bottom on the line and bar chart, so the up move is likely to continue provided it holds the key points on the downside as mentioned in the above paragraph. Be alert in long trade if it moves below its important point of 16490 and then 16418 and sustain on the closing basis. It is important to note here that this rally is a pullback rally and it is vertically moving up which is more concerning because it may end abruptly also, so since it already had a good run up one should be extremely cautious and vigilant in the long trade at this point of time.

In view of the above observation for safe trader’s long trade can be tried if it moves above 16753 and maintains for some time with a short stop loss of 16690 and it is suggested to avoid buy on decline for the day. But aggressive traders can also try buy on decline near 16610 but not below it with a stop loss of 16570, please note that long trade below 16570 could be a risky trade for the day, so be watchful in the long trade. Although it is in uptrend now but short trade can also be attempted after a reasonable rise or on the price breakdown for intraday corrective gains. Sell on the rise near or within the range of 16850--16900 with a short stop loss of 16930 or sell if it moves below 16540 with a short stop loss of 16620 or sell near if it does not move above 16753 even intraday in first one hour of trade with a stop loss of 16800.The short trade could be a risky bet but worth trying at this juncture because vertical rise has made it vulnerable for correction now. The short term bias is positive but medium and long term bias is still in danger as of now.

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. 

m 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--25.7.2022

 

CNX-BANK NIFTY

Open—36322.90---High—36823.45---Low—36286.35---Close—36738.95 on 22.7.2022.

Support 36718.80/36651.85/36497.35/36375.35/36332/36083.70/35985.25/35926/35810.90/35762/35585.20/35543.10/35511/35481.7035327.90/35081/35016.30/34817.50/34650.95/34528/34327/34287/34233/34018.85/33908.95/33273.95/33080.45/33001/32842.30/32652.15/32415.25/32290.55/32155.35/32115.05/31906.55.

 

Resistance 36876.35/36993/37238/37471/37581.05/37708.75/37988.60/38134.

(Bold and underlined figures are most important).

It is exhibiting robust strength and continued the up move for the 6^th day in a row, but its vertical rise is a concern because a vertical rise may have vertical fall also, therefore if it corrects to some extent in a day or two and then resume the up move then it will be good for the continuation of the up move, else with every rise fear of sharp fall would always be there, because correction is bound to happen with this kind of straight rise. Please note that in correction it should not break below 36266(figure may change) and sustain because then the correction may deepen. Furthermore in next 2 days it could make an attempt to fill the gap also which it left on 20.7.2022 and if it does then it could come down to 35762. However, as of now the up move is likely to continue with intermittent down correction and if it moves above 36993 and sustain on the closing basis then the next potential upside target could be 38134. Similarly sustained break below its critical range of 35762---35585---35481 will weaken the rally and sustained break below 35112(figure will change every day) on the closing basis may end this up rally. Moving up it will face resistance at 36993---37238---37471---37708.75---37971---38134. Similarly moving down key support points will be at 36266---35850---35762---35585---35481---35112.

The overall short term technical setup looks extremely good as of now, furthermore some important technical indicators are positive on the daily chart and some have turned positive on the weekly chart also which is a huge positive sign and most importantly it is making higher top and bottom on the line and bar chart, so the up move is likely to continue with in between down correction and provided it holds the key points on the downside as mentioned in the above paragraph. Be alert in long trade if it moves below its recent important point of 36266 and sustain on the closing basis. It is important to note here that this rally is a pullback rally and it is vertically moving up which is more concerning because it may end abruptly also, so since it already had a good run up one should be extremely cautious and vigilant in the long trade at this point of time.

In view of the above observation for safe trader’s long trade can be tried if it moves above 36825 and maintains for some time with a short stop loss of 36670 and it is suggested to avoid buy on decline for the day. But aggressive traders can also try buy on decline at appropriate points or near 36266 but not below it with a stop loss of 36050, please note that long trade below 36266 could be a risky trade for the day, so be watchful in the long trade. Although it is in uptrend now but short trade can also be attempted after a reasonable rise or on the price breakdown for intraday corrective gains. Sell on the rise near or within the range of 37275---37350 with a short stop loss of 37450 or sell if it moves below 36266 with a short stop loss of 36400 or sell near if it does not move above 36825 even intraday in first one hour of trade with a stop loss of 37000.The short trade could be a risky bet but worth trying at this juncture because vertical rise has made it vulnerable for correction now. The short term bias is positive but medium and long term bias is still in danger as of now.

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--22.7.2022

 

CNX-BANK NIFTY

Open—36026.55---High—36331.70---Low—35887.35---Close—36201 on 21.7.2022.

Support36083.70/35985.25/35926/35810.90/35762/35585.20/35543.10/35511/35481.7035327.90/35081/35016.30/34817.50/34650.95/34528/34327/34287/34233/34018.85/33908.95/33273.95/33080.45/33001/32842.30/32652.15/32415.25/32290.55/32155.35/32115.05/31906.55.

 

Resistance36332/36375.35/36497.35/36651.85/36718.80/36876.35/37232.20/37581.05/37708.75/37988.60.

(Bold and underlined figures are most important).

It is exhibiting good strength and in last 5 days it has vertically moved up by more than 1850 points intraday, please note that a vertical rise may have vertical fall, therefore if it corrects to some extent in a day or two and then resume the up move then it will be good for the continuation of the up move, else fear of sharp fall would always be there. Furthermore in next 3 days it could make an attempt to fill the gap also which it left on 20.7.2022 and if it does then it could come down to 35762. However as on now the up move is likely o continue with intermittent down correction as long as it holds the range of 35762---35585---35481 on the closing basis. Moving up it will face resistance at 36375.35---36497.35---36651.81---36718.80---36993---37238.

The overall short term technical setup looks good as of now, furthermore some important technical indicators are positive on the daily chart and most importantly it is making higher top and bottom on the line and bar chart, so the up move is likely to continue provided it holds the key points on the downside as mentioned in the above paragraph. Be alert in long trade if it moves below its important range of 35762---35585---35481 and sustain on the closing basis. It is important to note here that this rally is a pullback rally and it is vertically moving up which is more concerning because it may end abruptly also, so since it already had a good run up one should be extremely cautious and vigilant in the long trade at this point of time.

In view of the above observation for safe traders long trade can be tried if it moves above 36332 and maintains for some time with a stop loss of 36150 it is suggested to avoid buy on decline for the day. But aggressive traders can also try buy on decline near 35890 but not below it with a stop loss of 35700 or finally near or within the range of 35762---35585---35481 with a stop loss of 35350. Please note that long trade below 35890 could be a risky bet for the day, so be watchful in the long trade below this mark. Although it is in short term uptrend now but short trade can also be attempted after a reasonable rise or on the price breakdown for intraday corrective gains. Sell on the rise near or within the range of 36650---36700 with a short stop loss of 36800 or sell below 35890 with a short stop loss of 35980. The short trade could be a risky bet but worth trying at this point of time. The short term bias is positive but medium and long term bias is still bearish as of now.

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—22.7.2022

 

CNX-NIFTY

 Open—16523.55--High—16626.95—Low—16483.90---Close-16605.25 on 21.7.2022.

Support:16588/16565/16490/16472/16410.20/16376.05/16275.50/16203.25/16172.60/16162.55/16133.57/15991/15986.42/15962.25/15914/15895/15775/15735.75/15671.45/15632.72/15578.55/15566/15513.45/15511.05/15450.90/15431.75/15367.50/15183.40.                                                                                                                                                           

Resistance:16627/16695/16701.55/16752.40/16793.85/16824.70---833---837/16888.70/16891.70/16894/17006--003.

 (Bold and underlined figures are most important)

It is exhibiting good strength and in last 5 days it has vertically moved up by almost 700 points intraday, please note that a vertical rise may have vertical fall, therefore if it corrects to some extent in a day or two and then resume the up move then it will be good for the continuation of the up move, else fear of sharp fall would always be there. Furthermore in next 3 days it could make an attempt to fill the gap also which it left on 20.7.2022 and if it does then it could come down to 16360. However as on now the up move is likely o continue with intermittent down correction as long as it holds 16417(figure changes every day) on the closing basis. Moving up it will face resistance at 16649—16695---16767---16794---16894---16995---17140---17298---17354.05---17387.15.

The overall short term technical setup looks good as of now, furthermore some important technical indicators are positive on the daily chart and most importantly it is making higher top and bottom on the line and bar chart, so the up move is likely to continue provided it holds the key points on the downside as mentioned in the above paragraph. Be alert in long trade if it moves below its important point of 16417 (it changes every day) and sustain on the closing basis. It is important to note here that this rally is a pullback rally and it is vertically moving up which is more concerning because it may end abruptly also, so since it already had a good run up one should be extremely cautious and vigilant in the long trade at this point of time.

In view of the above observation for safe traders it is suggested to avoid long trade for the day. But aggressive traders can try long trade if it maintains above 16627 for some time with a stop loss of 16570 or can try buy on decline near 16417 but not below it with a stop loss of 16350, please note that long trade below 16570 could be a risky trade for the day, so be watchful in the long trade. Although it is in short term uptrend now but short trade can also be attempted after a reasonable rise or on the price breakdown for intraday corrective gains. Sell on the rise near or within the range of 16750--16795 with a short stop loss of 16830 or sell if it stays below 16570 with a short stop loss of 16630. The short trade could be a risky bet but worth trying at this juncture. The short term bias is positive but medium and long term bias is still negative as of now.

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. 

m 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--21.7.2022

 

CNX-BANK NIFTY

Open—36061.30---High—36182.70---Low—35876.55---Close—35972.10 on 20.7.2022.

Support35926/35810.90/35762/35585.20/35543.10/35511/35481.7035327.90/35081/35016.30/34817.50/34650.95/34528/34327/34287/34233/34018.85/33908.95/33273.95/33080.45/33001/32842.30/32652.15/32415.25/32290.55/32155.35/32115.05/31906.55. 

Resistance35985.25/36083.70/36375.35/36497.35/36651.85/36718.80/36876.35/37232.20/37581.05/37708.75/37988.60.

(Bold and underlined figures are most important).

It opened with an up gap and closed with a gain of 251.75 points. It decisively crossed its important range of 35481—35585---35762,  which is a good sign and as long as it hold this range the up move is likely to continue with intermittent down correction, but sustained break below this range and finally break below 35092(figure will change every day) may put the on-going uptrend in jeopardy. Moving up it will face resistance at 35975---36083.70---36183---36293---36375.35---36497.35---36651.81---36718.80. It is important to mention here that technically it can fill the gap in next 3-4 day and if it does makes an effort to fill the gap it can come down to 35762 levels, furthermore in last 4 trading session it closed near the high of the day for 2 days, for 1 day it closed in mid range but today it closed moderately above the low of the day, therefore it indicates that it could correct tomorrow, which may please be noted.

The overall short term technical setup looks good as of now, furthermore some important technical indicators are positive on the daily chart and most importantly it is making higher top and bottom on the line and bar chart, so the up move is likely to continue provided it holds the key points on the downside as mentioned in the above paragraph. Be alert in long trade if it moves below its important range of 35762---35585---35481 and sustain on the closing basis. It is also important to note here that this rally is a pullback rally and it may end abruptly also, so since it already had a good run up one should be extremely cautious and vigilant in the long trade at this point of time.

In view of the above observation for safe traders long trade can be tried if it moves above 36084 and maintains for some time with a stop loss of 35950 it is suggested to avoid buy on decline for the day. But aggressive traders can also buy on decline near or within the range of 35762---35585---35481 with a stop loss of 35400, please note that long trade below 35876 could be a risky bet for the day. The up move is on and it is buying on decline market now but today’s price movement suggests that it could correct tomorrow, so be watchful in long trade. Although it is in short term uptrend now but short trade can also be attempted after a reasonable rise or on the price breakdown for intraday corrective gains. Sell on the rise near or within the range of 36280---36350 with a short stop loss of 36450 or sell below 35876 with a short stop loss of 35980 but the authentic stop loss would be 36100,  can  add short position if it breaks and sustain below 35481 with a stop loss of 35600. The short trade could be a risky bet but worth trying at this point of time. The short term bias is positive but medium and long term bias is still bearish as of now.

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—21.7.2022

 

CNX-NIFTY

 Open—16562.80--High—16588—Low—16490.95---Close-16520.85 on 20.7.2022.

Support:16490/16472/16410.20/16376.05/16275.50/16203.25/16172.60/16162.55/16133.57/15991/15986.42/15962.25/15914/15895/15775/15735.75/15671.45/15632.72/15578.55/15566/15513.45/15511.05/15450.90/15431.75/15367.50/15183.40.                                                                                                                                                           

Resistance:16565/16588/16695/16701.55/16752.40/16793.85/16824.70---833---837/16888.70/16891.70/16894/17006--003.

 (Bold and underlined figures are most important)

It opened with a huge up gap and closed with a gain of 180.30 points. It decisively crossed its important point of 16415(figure will change every day) which is a good sign and as long as it hold this level up move is likely to continue with intermittent down correction, sustained break below this mark will put the on-going uptrend in jeopardy. Moving up it will face resistance at 16565---16588---16649—16695---16767---16794---16894---16995---17140---17298---17354.05---17387.15. It is important to mention here that technically it can fill the gap in next 3-4 day and if it does makes an effort to fill the gap it can come down to 16360 levels, furthermore in last 4 trading session it closed near the high of the day for 3 days but today it closed near the low of the day, therefore it indicates that it could correct tomorrow, which may please be noted.

The overall short term technical setup looks good as of now, furthermore some important technical indicators are positive on the daily chart and most importantly it is making higher top and bottom on the line and bar chart, so the up move is likely to continue provided it holds the key points on the downside as mentioned in the above paragraph. Be alert in long trade if it moves below its important point of 16415 (it changes every day) and sustain on the closing basis. It is important to note here that this rally is a pullback rally and it may end abruptly also, so since it already had a good run up one should be extremely cautious and vigilant in the long trade at this point of time.

In view of the above observation for safe traders it is suggested to avoid long trade for the day. But aggressive traders can try long trade if it maintains above 16521 for some time with a stop loss of 16470 or can try buy on decline near 16415 but not below it with a stop loss of 16350, please note that long trade below 16470 and below 16415 for sure could be a risky trade for the day. The up move is on and it is buying on decline market but today’s price movement suggests that it could correct tomorrow, so be watchful in long trade. Although it is in short term uptrend now but short trade can also be attempted after a reasonable rise or on the price breakdown for intraday corrective gains. Sell on the rise near or within the range of 16590--16620 with a short stop loss of 16660 or sell below 16470 with a short stop loss of 16540 and add position if it breaks and sustain below 16415 with a stop loss of 16480. The short trade could be a risky bet but worth trying at this point of time. The short term bias is positive but medium and long term bias is still bearish as of now.

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. 

m 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--20.7.2022

 

CNX-BANK NIFTY

Open—35113.25---High—35761.65---Low—35110.50---Close—35720.35 on 19.7.2022.

Support35585.20/35543.10/35511/35481.7035327.90/35081/35016.30/34817.50/34650.95/34528/34327/34287/34233/34018.85/33908.95/33273.95/33080.45/33001/32842.30/32652.15/32415.25/32290.55/32155.35/32115.05/31906.55.

 

Resistance35762/35810.90/35926/35985.25/36083.70/36375.35/36497.35/36651.85/36718.80/36876.35/37232.20/37581.05/37708.75/37988.60.

(Bold and underlined figures are most important).

The up move continued for the 3rd day in a row and it closed with a good gain of 361.65 points. Most importantly today it closed above its critical point of 35469.65 & 35543.10 on the line and the bar chart respectively which is an extremely positive sign and indicate that the up move is likely to continue. But it is still shade below its most critical range of 35481—35585---35762, sustained close above 35762 will push the rally ahead. But break below 35469.15(figure may change with the price movement) on the closing basis could be an alert sign, and break below 34651.20 & 34463(figure may change with the price movement) as of now may signal the end of the rally. However, as long as it holds 35085(figure changes every day) chances of continuation of the up move will be alive. Moving up it will face resistance at 35762---35851---35975---36083.70---36211---36375.35---36497.35.

The overall short term technical setup looks good as of now, furthermore some important technical indicators are positive on the daily chart and most importantly it is making higher top and bottom on the line and bar chart, so the up move is likely to continue provided it holds the key points on the downside as mentioned in the above paragraph. But kindly note that this rally is a pullback rally and it may end abruptly also, so since it already had a good run up one should be extremely cautious and vigilant in the long trade at this point of time.

In view of the above observation long trade can be tried if it maintains above 35762 with a stop loss of 35650 or can buy on decline near 35085 with a short stop loss of 34900.But aggressive traders can also try buy on decline at appropriate points with self defined stop loss or near 34650 but not below it with a stop loss of, please note that long trade below 35585 and finally below 35085 could be a risky bet for the day. Although the up move is on and it is buy on decline market now but short trade can also be attempted after a reasonable rise or on the price breakdown for intraday corrective gains. Sell on the rise near or within the range of 36275---36350 with a short stop loss of 36450 or sell below 35481 with a short stop loss of 35600 or sell if it does not move above 35762 in first hour of trade with a stop loss of 35900. The short trade could be a risky bet but worth trying at this point of time. The short term bias is positive but medium and long term bias is still bearish as of now.

In view of the above observation for safe traders long trade can be tried if it moves and maintains above 35762 with a stop loss of 35650 and avoid buy on decline for the day. But aggressive traders can also try buy on decline near 34800 but not below it with a stop loss of 34630, please note that long trade below 35081 could be a slightly risky proposition for the day. Although the up move is on and it is buy on decline market now but short trade can also be attempted after a reasonable rise or on the price breakdown for intraday corrective gains. Sell on the rise near or within the range of 35760---35875 with a stop loss of 35980  or sell below 34650 with a stop loss of 34775 or sell if it does not move above 35470 in first hour of trade with a stop loss of 35600 . The short term bias is positive but medium and long term bias is still bearish as of now.

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.