INTRA-DAY TRADING CALLS FOR 22.9.2023

 

TRADING CALLS 

1.  BAJAJ AUTO.

Sell below-5073, S/L-5090, Target-5050/5020/4995/4960/4940. 

2. CIPLA.

Sell below -1204, S/L-1214, Target---1180/1166/1150. 

3. DIVIS LAB.

Sell below -3733, S/L-3750, Target---3720/3694/3650/3597. 

4. HERO MOTOCORP LTD.

Sell below-2990, S/L-3010, Target-2976/2946/2938/2916. 

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-NIFTY—22.9.2023

 

CNX-NIFTY

 Open-19840.55---High—19848.75--Low-19709.95--Close-19742.35 on 21.9.2023.

Support: 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: 19795.60/19867.55/19887.40/19901/19986.73/ 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 down gap for the 2^nd day in a row and steadily moved down and finally ended the day with a loss of 159.05 points. It witnessed sharp fall in the last two days this is showing gross weakness in it and indicates that further fall may be ahead. It is already into short term correction mode for its recent gains. It is below some of its short term moving averages on the daily chart and below its recent bottom on the line chart also which is concerning and if it does not stage a sharp bounce back in next 2-3 trading sessions and moves above 19838 & 19991.85 and sustain on the closing basis then it may not resume the up move again and correction is likely to continue. However, if it manages to hold 19680 (figure will change every day) on the closing basis then there is some hope that it could  stage a pullback rally, else down move may continue. The short term technical setup has weakened a bit, furthermore on the daily chart two out of five important indicators are negative now and if price action does not improve fast others indicators may also turn negative, on the weekly and monthly chart also one indicator is showing weakness as of now. Please note that weak indicators with weak price action can be disastrous. The price action weakened on 18.9.2023 and it created havoc in the market in the last two days. It is therefore suggested to keep an eye on the price action and if it does not improve in next 2-3 trading sessions then further downside is wide open. It is into short correction mode now but the long term trend is up.

Moving up from here it may face resistance at 19811---19838---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. But it seems that up rally has exhausted for now and to put it back on the up momentum track it has to close above 19838 & 19991.85 and sustain on the closing basis.

Kindly note that moving down from here its strong support points would be 19680---19421(figure may change) break and close below 19680 could be very concerning and then fall may accelerate 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 is into short correction mode now, therefore it is sell on the rise market now till it closes above 19838 & 19991.85 and sustain, therefore long trade could be risky thing till correction is on but it can be tried at critical support points for pullback gains. Long trade below 19680 could be a risky bet for the day.

TRADING TIPS:--

1. Safe traders should avoid long trade till correction completion sign emerges or it closes above 19838 at least.  But aggressive traders can try long trade if it holds 19680 levels with a stop loss of 19640.

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 19830----19850 with a stop loss of 19890 or if it moves below19680 with a stop loss of 19750.

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—22.9.2023

 

CNX-BANK NIFTY

Open---45179.60---High—45276.80---Low---44592.45---Close—44623.85 on 21.9.2023.

Support:-44547.80/44539/44498.60/44459.25/44279.40/44254/44207.25/44151.80/ 43950/43862/43830.75/43706.15/43600.35/43519.55/43446/43345.95/43078.90/43038.25/42986.45/42582.20/41962

Resistance:44795/44949.60/45118.05/45238.80/45655.50/ 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 down gap for the 2^nd day in a row and recovered a bit in first hour of trading but could not sustain and steadily moved down and finally ended the day with a huge loss of 700.85 points. It witnessed sharp fall in the last two days this is showing gross weakness in it and indicates that further fall may be ahead. It is already into deep short term correction mode for its recent gains.  It is below some of its short term moving averages on the daily and weekly chart, below some medium term moving averages also and way below its recent bottom on the line chart also which is concerning and if it does not stage a sharp bounce back in next 2-3 trading sessions and moves above 44998 (figure may change) at least and then above 45250(figure may change) & 45816 and sustain on the closing basis then the correction is likely to continue. However, if it manages to hold 44254 & 44151.80on the closing basis then there is some hope that it could stage a pullback, else down move may continue. The short term technical setup has weakened, furthermore on the daily chart three out of five important indicators are negative now and if price action does not improve fast others indicators may also turn negative, on the weekly& monthly chart also few indicators are giving weak signal  as of now. Please note that weak indicators with weak price action can be disastrous. The price action weakened on 18.9.2023 and it created havoc in the market in the last two days. It is therefore suggested to keep an eye on the price action and if it does not improve in next 2-3 trading sessions then further downside is wide open. It is into deep short correction mode now but the long term trend is up.

Moving up from here it may face resistance at 44998—45118---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. It seems that rally has exhausted for now and to give a hope of a pullback rally it has close above 44998 and sustain on the closing basis and to  put it back on the up momentum track it has to close above 45816 & 45967(figure may change) and sustain on the closing basis.

Kindly note that moving down from here the  key support points could be 44539---44254---44151.80(figure may change) break below 44539 will push it into deep long term corrective mode but if it holds 44254 & 44151.80 on the closing basis then the hope of  up move will still  be alive ,but 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 43972----43600----43446---43345. Break below 43972(figure will change every day) will threaten the long term uptrend and break below 43345 may trigger fresh fall.

IMPORTANT NOTE: -- It is already into deep short corrective mode , therefore it is sell on the rise market now till it closes above 45816 and sustain, therefore trying long trade could be risky thing till correction is on but it can be tried at critical support points for pullback gains. Long trade below 44539 could be a risky bet for the day.

TRADING TIPS:--

1. Safe traders should avoid long trade till correction completion sign emerges or it closes above 44998 at least.  But aggressive traders can try long trade on decline near or within the range of 44254---44151 with a stop loss of 44000.  

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 49995----45100 with a stop loss of 45250 or sell if it moves below 44539 with a stop loss of 44750.

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.

 

 

 

 

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.