Nifty-Technical View-22-7-14

NIFTY CLOSED AT 7684.20 ON 21-07-14

 SUPPORT: -7661 / 7629 / 7611.35 / 7593 / 7563.50 / 7487.50 / 7481.30 / 7447.20/ 7441.60 / 7422.15 / 7402.25/ 7382 / 7291 / 7229/ 7118.45 / 7067 / 7020.

 RESISTANCE:   7685 / 7700.05 / 7731.05 / 7808.85 /7873 / 8060 / 8125.

  (Figures in bold are important)

 Nifty opened with a gap up today and made a high of 7722.10 and made a low of 7674 during the day before closing the day near the low at 7684.20. Its today’s movement suggest that avoid fresh long call below 7701.65 & 7685 during the week and below 7629 & 7611.35 for the month of July-14.Kindly get alerted if it goes below 7610 (this figure will change every day) and get out of the long trade if it closes below 7582(this figure will change every day). Your stop loss for the long trade in nifty is close below 7582 for 22-7-14. Kindly note that nifty will face tough resistance in the range of 7700-7735 , if it manages to cross and stays above it then it may cross the previous high of 7808.35.

 REMARKS:-Long term trend is intact, therefore it is buy on dip market now but avoid long calls below 7685 and one can try fresh long call near 7630 or above 7685 & 7701.65 with a strict stop loss of below 7582 on closing basis for 22-7-14. Kindly note that make your cost your stop loss in favorable trade and then trail it as the price moves 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 IS OF SPOT MARKET

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Trading Calls For 21-7-14

CNX-Bank Index-Technical View For The Week Stating From-21-7-14

CNX-Bank Index closed at 15389.45 on 18-7-2014

Range for the week ended 18-7-14 was :-15463.15----14338.35

SUPPORT: - 15288.30 / 15241.90 / 15089.30 / 14965 / 14858.90 / 14857.50 / 14770  / 14709.30 / 14338.65 /  14063.60 / 13885 / 13489 / 13414.30 / 12738.60

RESISTANCE: - 15463.15 / 15568.05 / 15592.80 / 15725.80 / 15742.05/ 15930 / 16308 / 16367 / 16608.

(Figures in bold are important)

 Index after making a low of14338.65 on14-7-14 moved steadily up during the week and made a high of 15463.15 on 18-7-14 before closing the week near the high at 15389.45. It seems that bottom of index is in place at 14338.65 for now and its movement suggest long call in it above 15241.90 & 15288.80, avoid fresh long call below this but hold long call if one already having it, get alerted in long call if it goes below 15129(the figure will change every day) and get out of the long trade if it closes below 15020(the figure will change every day) and re-enter only if it move again above its short term DMA range which is between 15129—14987 for 21-7-14. Your stop loss for the long trade in index is close below 15020 for 21-7-14. Kindly note that index will face tough resistance in the range of 15700-15742.

 REMARKS:-Long term trend is intact, therefore it is buy on dip market now and one can take long call above 15288.80 with a strict stop loss of below 15020 on closing basis for 21-7-14. Kindly note that make your cost your stop loss in favorable trade and then trail it as the price moves 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 IS OF SPOT MARKET

Contact me for strategic guidance to enter and exit the trade

                                            

Nifty-Technical View For The Week Starting From-21-7-14

NIFTY CLOSED AT 7663.90 ON 18-07-14

Range for the week ended on 18-07-14 was: - 7685--- 7422.15

 SUPPORT: -7661 / 7629 / 7611.35 / 7593 / 7563.50 / 7487.50 / 7481.30 / 7447.20/ 7441.60 / 7422.15 / 7402.25/ 7382 / 7291 / 7229/ 7118.45 / 7067 / 7020.

 RESISTANCE:   7685 / 7700.05 / 7731.05 / 7808.85 /7873 / 8060 / 8125.

  (Figures in bold are important)

 Nifty after making a low of 7422.15on14-7-14 moved steadily up during the week and made a high of 7685 on 18-7-14 before closing the week near the high at 7663.90. It seems that bottom of nifty is in place at 7422.15 for now and its movement suggest long call in it above 7611.35 & 7629, avoid fresh long call below this but hold long call if one already having it, get alerted in long call if it goes below 7600(the figure will change every day) and get out of the long trade if it closes below 7580(the figure will change every day) and re-enter only if it move again above its short term DMA range which is between 7600—7580 for 21-7-14. Your stop loss for the long trade in nifty is close below 7580 for 21-7-14. Kindly note that nifty will face tough resistance in the range of 7700-7735 , if it manages to cross and stays above it then it may cross the previous high of 7808.35.

 REMARKS:-Long term trend is intact, therefore it is buy on dip market now and one can take long call above 7629 with a strict stop loss of below 7580 on closing basis for 21-7-14. Kindly note that make your cost your stop loss in favorable trade and then trail it as the price moves 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 IS OF SPOT MARKET

Contact me for strategic guidance to enter and exit the trade

Trading Calls For 17-7-14

CNX-Bank Index-Technical View For-17-7-14

CNX-Bank Index closed at 15265.45 on 16-7-2014

SUPPORT: - 15241.90 / 15113.56 / 14965 / 14946.85 / 14858/ 14770  / 14709.30 / 14338.65 /  14063.60 / 13885 / 13489 / 13414.30 / 12738.60

RESISTANCE: -15288.80 / 15341.95 / 15568.05 / 15592.80 / 15725.80 / 15742.05/ 15930 / 16390

(Figures in bold are important)

Index in last three trading session moved up by 961.15 points, which is phenomenal, It gave a robust up move today and made a high of 15299.80 for the day before closing the day near the high at 15265.45. Please note that it had given gap up opening on 15th & 16^th July-14 and did not fill the gap as yet ,so if it opens with a up gap on 17-7-14 then watch the market for some time before taking any call  because after 3^rd gap it tries to fill the earlier gaps also most of the time, as the three gaps in a row  on the either side is a rare  phenomena . However today’s movement indicate that the on- going down correction may be over ,furthermore index has crossed all its short term moving averages today therefore as of now the negative divergence will take a back seat as long as it hold the range of short term moving averages which is between 15100--14978 for 17-7-14(it keeps on changing every day, I will keep on updating it).I would suggest long call in the index above 15241.90 &15288.80 ,but get alerted if it goes below 15241.90 & 15100 and get out of the long trade if it closes below 15022 and re-enter only if it move again above its short term DMA range and stays. Your stop loss for the long trade in index is close below 15022 for 17-7-14. 

 REMARKS:-Long term trend is intact. it seems that the on- going down correction may be over therefore one can take long call  above 15241.90 with a strict stop loss of below 15022 on closing basis for 17-7-14 . Kindly note that make your cost your stop loss in favorable trade and then trail it as the price moves up/down to gain maximum profit and avoid losses. Use support and resistance levels as entry, exit and trailing stop loss points. DO NOT TRADE WITHOUT STOP LOSS

                                             Note:-PRICE STATED HERE IS OF SPOT MARKET 

Contact me for strategic guidance to enter and exit the trade

Nifty-Technical View For-17-7-14

NIFTY CLOSED AT 7624.40.60 ON 16-07-14

SUPPORT: - 7611.35 / 7593 / 7567 / 7487.50 / 7481.30 / 7447.20/ 7441.60 / 7422.15 / 7402.25/ 7382 / 7291 / 7229/ 7118.45 / 7067 / 7020.

RESISTANCE:   7629 / 7661.13 / 7700.05 / 7808.85 /7851 / 7990 / 8050 / 8125.

 (Figures in bold are important)

Nifty  opened with a up gap today but  covered the gap during the day, which is a good sign and gave a robust up move in the last 45 minutes trade and made a high of 7639.95 for the day before closing the day near the high at 7624.40, today’s movement indicate that the on- going down correction may be over ,furthermore nifty has crossed all its short term moving averages today therefore as of now the negative divergence will take a back seat as long as it hold the range of short term moving averages which is between 7609--7567 for 17-7-14(it keeps on changing every day, I will keep on updating it).I would suggest long call in the nifty above 7611.35 & 7629 ,but get alerted if it goes below 7609 and get out of the long trade if it closes below 7567 and re-enter only if it move again above its short term DMA range. Your stop loss for the long trade in nifty is close below 7567 for 17-7-14.

REMARKS:-Long term trend is intact. it seems that the on- going down correction may be over therefore one can take long call  above 7611.35 with a strict stop loss of below 7567 on closing basis for 17-7-14 . Kindly note that make your cost your stop loss in favorable trade and then trail it as the price moves up/down to gain maximum profit and avoid losses. Use support and resistance levels as entry, exit and trailing stop loss points. DO NOT TRADE WITHOUT STOP LOSS

Note:-PRICE STATED HERE IS OF SPOT MARKET

Contact me for strategic guidance to enter and exit the trade

Trading Calls For-14-7-14

CNX-Bank Index-Technical View For The Week Starting From-14-7-14

CNX-Bank Index closed at 14447.20 on 11-7-2014

Range for the week ended 11-7-14 was :-15592.80----14406.65

SUPPORT: - 14406.65 / 14301.30 / 14240 / 14063.60 / 13885 / 13489 / 13414.30 / 12738.60

RESISTANCE: -14595 / 14709.30 / 14770 / 14858 / 14946.85 / 15034 / 15241.90 / 15288.80 / 15341.95 / 15568.05 / 15592.80 / 15725.80 / 15742.05/

(Figures in bold are important)

Index   had a volatile and wild swing of 1186 points during the week under review and it made an   high of 15592.80 and a low of 14406.65 for the week before closing the week near the low at 14447.20, this kind of move indicate that up  momentum has broken and it may seek lower level in the coming days for sure. However in between short up move on intra -day basis or on closing basis could be there.The bias is downward.

Technically index is badly placed, it has broken important bottoms on the line and the bar chart, it is below all its monthly(for July-14) support levels ,it is also below its all short term moving averages and today it has just broken its one of the long term moving average range which was in the region of  14934—14669 (it keeps on changing every day, as of  now it will rise with each passing day)which is a bad sign, now the  next important long term average support would be near 12781--13185 range .The very strong support for the index for the rest of this year is at 13414.30,if it breaks it  and stays below then it will be really  a matter of concern.

 Furthermore so long the negative divergence was there on the daily chart but now it has appeared on the weekly chart too and it could be devastating if it comes into play ,chances of which are looking reasonably good at this point of time and if it does then index could break 12842 level ,kindly note that negative divergence could only be negated if index give sharp up move and stays above its short term DMA which is at 15163  for 14-7-14(it keeps on changing every day, as of now it will move down with each passing day)  for reasonable period of time, chances of which are looking slim at this point of time, therefore try long call above short term DMA only .Avoid long call completely below 14406.65 during next week starting from 14-7-14 .The strong resistance for the month of July-14 is at  14770 / 15241.90 & 15288.80 

 The technical parameter suggest that index  could hit the range of 13000-13450 in coming days, therefore if it goes down then review the situation around the said range to ascertain whether the on -going fall has been arrested or not. 

REMARKS:-Long term trend is still intact but short term trend is down, therefore I suggest to avoid long call completely till it is visible that the on -going correction is over, so as of  now one can try short call on the rise at appropriate level with an adequate stop loss . Kindly note that make your cost your stop loss in favorable trade and then trail it as the price moves up/down to gain maximum profit and avoid losses. Use support and resistance levels as entry, exit and trailing stop loss points. DO NOT TRADE WITHOUT STOP LOSS

Note:-PRICE STATED HERE IS OF SPOT MARKET

Contact me for strategic guidance to enter and exit the trade