INTRA-DAY TRADING CALLS FOR 21.9.2023

 

TRADING CALLS 

1.  BAJAJ AUTO.

Sell below-5166, S/L-5185, Target-5125/5090/5043. 

2. BHARATI AIRTEL.

Sell below -905, S/L-912, Target---901/895/884. 

3. DR.REDDYS LAB.

Sell below -5602, S/L-5620, Target---5550/5538/5544/5515. 

4. HDFC BANK.

Sell below-1558, S/L-1565, Target-1532/1489. 

5. JSW STEEL.

Sell below--785, S/L-790, Target—777/770/760/750. 

6. L&T.

Sell below--2886, S/L-2900, Target—2845/2807. 

7. MARUTI SUZUKI.

Sell below--10337, S/L-10350, Target—10318/10242/10130. 

8. TATA STEEL.

Sell below—127.50, S/L-129, Target—124/121.50. 

PLEASE NOTE THAT INTRADAY TRADES ARE HIGHLY RISKY. 

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 CNX-BANK NIFTY—21.9.2023

 

CNX-BANK NIFTY

Open---45493.70---High—45745.15---Low---45276.40---Close—45384.60 on 20.9.2023.

Support:- 45238.80/45118.05/44949.60/44795/44547.80/44539/44498.60/44459.25/44279.40/44254/44207.25/44151.80/ 43950/43862/43706.15/43600.35/43519.55/43446/43345.95/43078.90/43038.25/42986.45/42582.20/41962

Resistance:45655.50/ 45782.75/45816/45893.80/46310.40/46369.50/46761/47063/47123/47284/47427/47755/48081/48198/48446/49139.           

 (Bold and underlined figures are most important)

It opened with a huge down gap and recovered a bit in first hour for trading but could not sustain and steadily moved down and finally ended the day with a loss of 595.25 points. Please note that as envisaged the down move continued and it slipped into deep short term correction mode today for its recent gain as it decisively closed below its threshold point of 45814 & 45671 (figure may change) the way it got corrected today is highly concerning and if it does not stage a sharp bounce back in next 3-4 trading sessions and moves above 45816 and sustain on the closing basis then the correction may extend further. Furthermore it has also moved below some of its short term moving averages and broken recent bottom on the line chart, which is a very weak sign and indicates further downside may be ahead. However, if it manages to hold the range of 45300---45230 on the closing basis then it could still stage a pullback, else down move may continue. The technical setup still looks good, furthermore all the important technical indicators are positive on the daily chart despite today’s fall, therefore the up move can still resume, but on the weekly& monthly chart few indicators are giving weak signal which is concerning and it can dampen the up move and may get it into deep correction mode if price action weakens. The price action had weakened on 18.9.2023 and today it was terribly bad and it slipped into deep short corrective mode also. It is therefore suggested to keep an eye on the price action and if it does not improve in next 3-4 trading sessions then further downside is open. It is into short correction mode now but the long term trend is up.

Moving up from here it may face resistance at 45671---45782.75---45816---46310.40---46369.50---46761---47063---47123---47284---47427---47755(figure may change) Please note that it may correct at any of these points and may resume the up move again or rally may exhaust for a while. It seems that rally has exhausted for now and to put it back on the up momentum track it has to close above 45816 & 46104(figure may change) and sustain on the closing basis.

Kindly note that moving down from here the  key support points could be 45300----45230---44970---44539---44151.80(figure may change) if it holds the range of 45300---45230 on the closing basis then the hope of  up move will be alive , break below 44970(figure will change every day)  could be very concerning, break below 44539 will push it into deep long term corrective mode and finally break below 44151.80 on the closing basis may dampen the possibility of continuation of the up move and it may slide down and then the next strong support range would be between 43954----43600----43446---43345.

IMPORTANT NOTE: -- It has slipped into deep short corrective mode today, therefore it is sell on the rise market now till it closes above 45816 and sustain, therefore long trade could be risky till correction is on but it can be tried at critical support points for pullback gains. Long trade below 45231 could be a risky bet for the day.

TRADING TIPS:--

1. Long trade can be tried on decline near or within the range of 45300---45230 if it hold the range for some time with a stop loss of 45000.   

2. It is into the long term uptrend therefore short trade in general could be a risky affair, but it has slipped into deep short corrective mode  today, therefore short trade can be attempted but with extreme caution and care on the reasonable rise or on the price breakdown for intraday corrective gains. Short trade can be tried on the rise near or within the range of 45730----45810 with a stop loss of 45950 or sell if it moves below 45230 with a stop loss of 45430.

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 favourable 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

Email—suranank@gmail.com

Mobile—8240951127/9831313654.

 

 

 

 

A TECHNICAL UPDATE ON CNX-NIFTY—21.9.2023

 

CNX-NIFTY

 Open-19980.75---High—20050.65--Low-19878.85--Close-19901.40 on 20.9.2023.

Support: 19901/19887.40/19867.55/19795.60/ 19645.50/ 19615.95/19584.45/19563.10/19523.60/19482.75/19467.50/19465/19458.55/19405/19361.75/ 19303.60/19300/19296.45/19253.60/19245/19223.65/18887.60/18646.70/18555.40/18464.55.

Resistance:19986.73/ 19991.85/20168/20184/20201/20222.45/20245/20285/20390/20467/20500/20568/20760.

 (Bold and underlined figures are most important)

It opened with a huge down gap and recovered a bit but could not sustain and steadily moved down and finally ended the day with a loss of 231.90 points. Please note that as envisaged the down move continued and it slipped into short term correction mode today as it closed below its threshold point of 19986.73(figure may change) the way it got corrected today is highly concerning and if it does not stage a sharp bounce back in next 3-4 trading sessions and moves above 19991.85 and sustain on the closing basis then the correction may extend further. Furthermore it has also moved below some of its short term moving averages and broken recent bottom on the line chart, which is a very weak sign and indicates further downside may be ahead. However, if it manages to hold 19838 on the closing basis then it could still stage a pullback, else down move may continue. The technical setup still looks good, furthermore except for one all the important technical indicators are positive on the daily, weekly & monthly chart despite today’s fall, therefore the up move can still  resume, but please note that one weak indicator could be concerning and can dampen the up move and can get it into corrective mode if price action weakens. The price action has weakened since 18.9.2023 and today it was terribly bad and slipped into corrective mode also. It is therefore suggested to keep an eye on the price action and if it does not improve in next 3-4 trading sessions then further downside is open. It is into short correction mode now but the long term trend is up.

Moving up from here it may face resistance at 19986.73---19991.85---20201---20222.45---20245---20285---20315---20390---20467---20500---20567---20760(figure may change), Please note that it may correct at any of these points and then may resume the up move again or rally may exhaust for a while. It seems that rally has exhausted for now and to put it back on the track it has to close above 19991.85 and sustain on the closing basis.

Kindly note that moving down from here its strong support points would be 19838---19675---19421(figure may change) break below 19838 on the closing basis could lessen the possibility of continuation of the up move, break below 19675 could be very concerning and fall may deepen and break below 19421 will push it into deep medium term corrective mode and it may slide down further and then the next strong support range would be between 19300—19253---19223.60.

IMPORTANT NOTE: - It has slipped into correction mode today, therefore it is sell on the rise market now till it closes above 19991.85 and sustain, therefore long trade could be risky till correction is on but it can be tried at critical support points for pullback gains. Long trade below19865 & 19838 could be a risky bet for the day.

TRADING TIPS:--

1. Safe traders can try long trade on decline if it holds 19838 for a while but not below it with a stop loss of 19790.  But aggressive traders can also try long trade on sharp decline near 19710 with a stop loss of 19670.It could be a risky affair.

2. It is into the long term uptrend therefore short trade in general could be a risky affair, but it has slipped into correction today, therefore short trade can be attempted but with extreme caution and care on the reasonable rise or on the price breakdown for intraday corrective gains. Short trade can be tried on the rise near or within the range of 19990----20030 with a stop loss of 20080 or if it moves below19838 with a stop loss of 19910.

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 favourable 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

Mobile—8240951127/9831313654.

 

 

 

 

 

A TECHNICAL UPDATE ON CNX-BANK NIFTY—20.9.2023

 

CNX-BANK NIFTY

Open---46100.95---High—46252.95---Low---45906.90---Close—45979.85 on 18.9.2023.

Support45893.80/45816/45782.75/45655.50/ 45238.80/45118.05/44949.60/44795/44547.80/44539/44498.60/44459.25/44279.40/44254/44207.25/44151.80/ 43950/43862/43706.15/43600.35/43519.55/43446/43345.95/43078.90/43038.25/42986.45/42582.20/41962

Resistance: 46310.40/46369.50/46761/47063/47123/47284/47427/47755/48081/48198/48446/49139.     

 (Bold and underlined figures are most important)

It opened on a negative note and had both side movement but eventually ended the near the low of the day with a loss of 251.65 points. It corrected today, however the technical setup is still good for the continuation of the up move, but if correction last for few days which seems possible and if it closes below 45511 then it may halt the ongoing up move for a while and may slide down further. Furthermore it is important to mention here that if it closes below 45814 & 45671 (figure may change) then it will slip into short correction mode for its recent rise, which please note. The technical setup is good, furthermore all the important technical indicators are positive on the daily chart and pointing that the up move can continue further from here but with intermittent correction, but on the weekly& monthly chart few indicators are still giving weak signal which is concerning and it can dampen the up move and may get it into deep correction mode if price action weakens. It is therefore suggested to keep an eye on the price action and if it gives weak sign then be alert  and the price action was weak today as it made lower high and lower low and closed below the previous day’s low which is concerning. Therefore it is suggested to watch out next 1-2 trading session for clarity in this regard. The long term trend is up.  

Moving up from here it may face resistance at 46310.40---46369.50---46761---47063---47123---47284---47427---47755(figure may change) Please note that it may correct at any of these points and may resume the up move again or rally may exhaust for a while. It is important to mention here that if it sustains above its critical point of 45816 on the closing basis then it could retest its all-time high of 46369.50(today it went very near to it) or may go beyond it also and scale new highs.

Kindly note that moving down from here the  key support points could be 45816----45814---45671----45511.35(figure may change) break below 45816 & 45782.75  could be an alert point and break below 45814 & 45671 will push it into short and deep corrective mode for its recent rise, break below 45511 will be a weak sign for the ongoing up move and may accelerate the fall but as long as it holds 45300(figure will change every day) on the closing basis the hope of  continuation of up move will be alive , break below 44970(figure will change every day)  could be very concerning and finally break below 44151.80 on the closing basis may dampen the possibility of continuation of the up move and it may slide down and then the next strong support range would be between 43929----43600----43446---43345.

IMPORTANT NOTE: -- It is suggested to try fresh long trade if it moves above 46369.50 and sustain on the closing basis or on decline near or within the range 45816---45782 & then 45671---45511, long trade below 45782 could be a risky bet for the day ,which please note.

TRADING TIPS:--

1. Safe traders can try long trade on decline near or within the range of 45816---45782 with a stop loss of 45650.  But aggressive traders can also try long trade on decline near or within the range of 45671---45511 with a stop loss of 45300.

2. It is into the long term uptrend therefore short trade in general could be a risky affair but as it is still into correction mode but pullback move is also on , therefore short trade can be attempted but with extreme caution on the reasonable rise or on the price breakdown for intraday corrective gains. Short trade can be tried on the rise near or within the range of 46290----46370 with a stop loss of 46450.

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 favourable 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

Email—suranank@gmail.com

Mobile—8240951127/9831313654.

 

 

 

 

A TECHNICAL UPDATE ON CNX-NIFTY—20.9.2023

 

CNX-NIFTY

 Open-20155.95---High—20195.35--Low-20115.70--Close-20133.30 on 18.9.2023.

Support: 19991.85/19901/19887.40/19867.55/19795.60/ 19645.50/ 19615.95/19584.45/19563.10/19523.60/19482.75/19467.50/19465/19458.55/19405/19361.75/ 19303.60/19300/19296.45/19253.60/19245/19223.65/18887.60/18646.70/18555.40/18464.55.

Resistance: 20168/20184/20201/20222.45/20245/20285/20390/20467/20500/20568/20760.

 (Bold and underlined figures are most important)

It opened on a negative note and moved both ways during the day but in a range and eventually closed near the low of the day with a loss of 59.05 points. It corrected today which was quite normal and the technical setup is still good for the continuation of the up move, but if correction last for few days which seems possible and if it closes below 19993 then it may halt the on-going up move for a while and may slide down further. Furthermore it is important to mention here that if it closes below 19986.73(figure may change) then it will slip into short correction mode for its recent rise, which please note. The technical setup is good, furthermore except for one all the important technical indicators are positive on the daily, weekly & monthly chart, therefore the on-going up move is likely to continue further with intermittent correction, but please note that one weak indicator could be concerning and can dampen the up move and can get it into deep correction if price action weakens. It is therefore suggested to keep an eye on the price action and if it gives weak sign then be alert and today price action was weak as it made lower low and lower high, which please note and watch out next 1-2 trading session for clarity. The long term trend is up.

Moving up from here it may face resistance at 20201---20222.45---20245---20285---20315---20390---20467---20500---20567---20760(figure may change), Please note that it may correct at any of these points and then may resume the up move again or rally may exhaust for a while. The range of 20222.45---20245---20285---20315 is very critical, so be alert and vigilant.

Kindly note that moving down from here its strong support points would be 19993---19991.80 &19986.73, break and sustained close below 19993 &19991.80 will be a weak sign for the ongoing up move, break below 19986.73 will push it into short correction mode for its recent rise and may accelerate the fall but as long as it holds the level of  19865(figure may change) on the closing basis the hope of  continuation of up move will be alive, break below 19680 could be very concerning and fall may deepen and break below 19421 will push it into medium term corrective mode and it may slide down further and then the next strong support range would be between 19300—19253---19223.60.

TRADING TIPS:--

1. Safe traders can try long trade on decline near 19993 with a stop loss of 19940.  But aggressive traders can also try long trade on sharp decline near 19870 with a stop loss of 19810. It is important to mention here that long trade below 19993 & 19986.73 could be a risky bet for the day.

2. It is into the long term uptrend therefore short trade in general could be a risky affair, however short trade can be attempted but with extreme caution and care on the reasonable rise or on the price breakdown for intraday corrective gains. Short trade can be tried on the rise near or within the range of 20222----20245 with a stop loss of 20295.

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 favourable 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

Mobile—8240951127/9831313654.