Nifty-Technical view For-20-11-14

NIFTY CLOSED AT 8382.30ON 19-11-14

SUPPORT: - 8330.75 / 8322 / 8290 / 8180 / 8160 / 8085.

 RESISTANCE:- 8415.05 / 8455.65 / 8475 / 8550 / 8600 / 8650.

(Figures in bold are important)

Nifty opened on a positive note at 8440.65 and made a new all time high of 8455.65 and thereafter went down and made a low of 8360.50 before closing the day at 8382.30.It is moving in a short channel for last few days and the range for it is between 8461---8360(it will increase with each passing day) for 20-11-14, and breakout on the either side will decide further direction for it but since it has closed near the lower end of the channel today which is slightly disturbing and indicative of that it may give downside breakout in days to come ,so exit long trade if it closes below 8340 on 20-11-14 and re-enter long trade only if it moves above 8455.65 and stays. The good support for it exist at 8290 & 8160 and going up it will have resistance at 8456/ 8497 & 8537.I once again reiterate that the up trend is still intact as of now but we are not far away from the top for the time being and reasonable to significant correction in coming days, I would therefore suggest to book profit in long trade now and on the rise too and be careful in long trades at higher levels .   

    

REMARK:-  :- Long term trend is  up but today’s move indicate that correction may set in coming days therefore traders are advised to book  profit in long trades and avoid fresh long trades below 8340 on 20-11-14 for sure .

 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.

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.

Note: Price stated here is of spot market

Contact me for strategic guidance to enter and exit the trade

Trading Calls For--17-11-14

CNX-Bank Index-Technical View For-17-11-14

CNX-Bank Index closed at 17576.80 on 14-11-2014

SUPPORT: - 17389 / 17157 / 17087 / 17060 / 17045 / 16560 / 16309.70 .

RESISTANCE: - 17651 / 17710 / 18040 / 18120 / 18262 &18615.

  (Figures in bold are important)

Index opened on a positive note at 17460.55 and made a high of 17601.15 and  made a low of 17410.50 before closing the day at 17576.80. The range for the index is between 17651---17203for the week starting from 17-11-14 and break on either side will decide the further direction, the reasonable support for it exist at 17389 & 17157. Traders are  advised to get alerted in long trade below 17389 and exit trade if it closes below 17255.Going up it will face stiff resistance at 17708 / 17842 & 17900 on 17-11-14. I still suggest to avoid fresh long call and advice to book part profit in long trades here and on the rise too because it seems that index is not far away from topping out for the time being and correction sets in, therefore I would suggest that think of fresh long trade only after index reasonably corrects till then stay out. However aggressive trader can go long on the dip with a stop loss of close below 17389 or if it stays above 17651 with a stop loss of  close below 17610 

    

REMARK:-  :- Long term trend is  up but It is advised to avoid fresh long trade till  index corrects, therefore traders are advised at least to book part here and on the rise. Avoid fresh long call below 17389 for sure on 17-11-14.

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.

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.

Note: Price stated here is of spot market

Contact me for strategic guidance to enter and exit the trade

Nifty-Technical view For-17-11-14

NIFTY CLOSED AT 8389.90ON 14-11-14

SUPPORT: - 8330.75 / 8320 / 8290 / 8180 / 8160 / 8085.

 RESISTANCE:- 8415.05 / 8430 / 8475 / 8500 / 8600 / 8650.

(Figures in bold are important)

Nifty opened on a positive note at 8360.70 and made a high of 8400.65 and thereafter it went down and made a low of 8346.80 before closing the day at 8389.90. The range for nifty now is 8415.05----8290 for the week starting from 17-11-14 and break on either side will decide the further direction, the strong support for it exist at 8180 & 8160. Traders are  advised to get alerted in long trade below 8320 and exit trade if it closes below 8290.Going up it will face stiff resistance at 8415 / 8458 &8500 on 17-11-14. I still suggest to avoid fresh long call and advice to book part profit in long trades here and on the rise too because it seems that nifty is not far away from topping out for the time being and correction sets in, therefore I would suggest that think of fresh long trade only after nifty reasonably corrects till then stay out. However aggressive trader can go long on the dip with a stop loss of close below 8290 or if it stays above 8420 with a stop loss of  close below 8390. 
     

    

REMARK:-  :- Long term trend is  up but avoid fresh long trade till nifty corrects, therefore traders are advised at least to book part here and on the rise.

 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.

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.

Note: Price stated here is of spot market

Contact me for strategic guidance to enter and exit the trade

Trading Calls For-14-11-14

CNX-Bank Index-Technical View For-14-11-14

CNX-Bank Index closed at 17453 on 13-11-2014

SUPPORT: - 17157 / 17087 / 17060 / 17045 / 16560 / 16309.70 / 16157.05 / 15973 / 15742.05.

RESISTANCE: - 17651 / 17710 / 18040 / 18120 / 18262 &18615.

  (Figures in bold are important)

Index opened with a gap up at 17645.30 and made a new all time high of 17651 and then went down and made a low 17389.65 before closing the day at 17453.Today’s movement showed weakness in it, furthermore it has broken the trend-line of the channel today which is indicative of reasonable to significant correction in coming days. I would therefore suggest to avoid fresh long call completely here below 17651 and advice to book profit on existing long trades. The range for index now is between 17651---17157 but avoid long call completely below 17380 on 14-11-14.Aggressive trader can try short call for the day also below 17380 with a stop loss of 17410 for a target of 17240.   

     

REMARK:-  :- Long term trend is  up but today’s move indicate that correction may set in therefore traders are advised to book  profit in long trades and avoid fresh long trades below 17380 on 14-11-14.

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.

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.

Note: Price stated here is of spot market

Contact me for strategic guidance to enter and exit the trade

Nifty-Technical View For-14-11-14

NIFTY CLOSED AT 8357.85ON 13-11-14

SUPPORT: - 8330.75 / 8322 / 8290 / 8180 / 8160 / 8085.

 RESISTANCE:- 8415.05 / 8430 / 8475 / 8550 / 8600 / 8650.

(Figures in bold are important)

Nifty opened on a positive note at 8405.25 and made a high of 8408 and thereafter it went down and made a low of 8320.35 before closing the day at 8357.85. Today’s movement showed weakness in it, furthermore it broke the trend-line of the channel yesterday which is indicative of reasonable to significant correction in coming days. I would therefore suggest to avoid fresh long call completely here and advice to book profit on existing long trades. The range for nifty now is between 8415.05---8290 but avoid long call completely if it starts trading below 8320 on 14-11-14 and below 8290 for sure. Aggressive trader can try short call for the day also below 8320 or on the rise and near 8408 with a stop loss of 8340 & 8430 respectively .  

     

REMARK:-  :- Long term trend is  up but today’s move indicate that correction may set in therefore traders are advised to book  profit in long trades and avoid fresh long trades below 8320 on 14-11-14.

 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.

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.

Note: Price stated here is of spot market

Contact me for strategic guidance to enter and exit the trade

Trading Calls For-13-11-14

CNX-Bank Index-Technical View For-13-11-14

CNX-Bank Index closed at 17587.05 on 12-11-2014

SUPPORT: - 17157 / 17087 / 17060 / 17045 / 16560 / 16309.70 / 16157.05 / 15973 / 15742.05

RESISTANCE: - 17640 / 17710 / 18040 / 18120 / 18262 &18615.

  (Figures in bold are important)

Index opened with a gap up at 17461.45 and made a low of 17453.45 and thereafter moved up steadily and made a new all time high of 17635.90 and closed the day at 17587.05.Technically it is showing good strength ,but since It is moving in a channel now and the range for it is between 18150---17545 for 13-11-14,so caution is advised here as it is so close to the trend-line of the channel and if it breaks 17545 level and close below it on13-11-14 then it will be the first sign of weakness,  Please note the good support for it exist at 17275 & 17157 and break below these levels will be potential sign of weakness and possible correction, so traders are advised to book part profit on long trade on the rise .The stop loss for long trade now is close below 17275 for 13-11-14. Avoid fresh long trade below 17157 for sure. Going up it will face stiff resistance at 17640 / 17710 & 18120 level.

REMARK:-  :- Long term trend is  up but traders are advised to book part profit in long trades on the rise and avoid fresh long trades below 17275 on 13-11-14.

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.

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.

Note: Price stated here is of spot market

Contact me for strategic guidance to enter and exit the trade

Nifty-Technical View For-13-11-14

NIFTY CLOSED AT 8383.30ON 12-11-14

SUPPORT: - 8330.75 / 8322 / 8290 / 8180 / 8160 / 8085.

 RESISTANCE:- 8415.05 / 8430 / 8475 / 8550 / 8600 / 8650.

(Figures in bold are important)

Nifty opened on a positive note at 8378.90 made a low of 8370.50 and thereafter it went on to make a new all time high of 8415.05  before closing the day  at 8383.30. Technically it is still ok now, although it has broken the trend-line of the channel today which shows some weakness and to show strength again on this parameter it has to bounce back within the channel again and close above 8440 on 13-11-14 because the range for channel is between 8620---8440 for 13-11-14, chances of which are looking tough seeing today’s move, but anyway the strong support for it exist at 8290 therefore one should exit long trade if it closes below this mark. Going up it will face stiff resistance at 8430 / 8475 / 8550 & 8600 and I strongly feel that nifty may exhaust around these level and correction may set in, since we are not far away from these levels  therefore I suggest to book part profit on long trades.

REMARK:- Long term trend is  up , correction in nifty looks imminent therefore traders are advised to book part profit in long trades here and on the rise too and avoid fresh long trades now and below 8290 for sure.   

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.

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.

Note: Price stated here is of spot market

Contact me for strategic guidance to enter and exit the trade

Trading Calls For-12-11-14

CNX-Bank Index-Technical View For-12-11-14

CNX-Bank Index closed at 17390.20 on 11-11-2014

SUPPORT: - 17157 / 17087 / 17060 / 17045 / 16560 / 16309.70 / 16157.05 / 15973 / 15742.05.

RESISTANCE: - 17434.15 / 17490 / 17640 / 17800 & 18060.

  (Figures in bold are important)

Index opened on a flat note at 17266.25 and made a low of 17220.45 and thereafter moved up and made a new all time high of 17434.15 and closed the day at 17390.20.Technically it is still looking ok .It is moving in a channel now and today it broke the trend-line intra-day but bounced back within the channel and closed fairly above the trend-line. The range for it is between 18025---17436 for 12-11-14,and if it does not move and close above 17436 on 12-11-14 then that will be the first sign of weakness ,so some caution is advised , furthermore in last four trading days it has been moving sideways which is indicative of a big move  ahead on either side in coming days. Please note the good support for it exist at 17157 and break below this will be potential sign of weakness and significant correction. Avoid fresh long trade below 17157. Going up it will face stiff resistance at 17490 / 17640 / 17800 &17780 level.

REMARK:-  :- Long term trend is  up but traders are advised to book part profit in long trades and avoid fresh long trades below 17220 on 12-11-14

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.

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.

Note: Price stated here is of spot market

Contact me for strategic guidance to enter and exit the trade

Nifty-Technical View For-12-11-14

NIFTY CLOSED AT 8362.65ON 11-11-14

SUPPORT: - 8330.75 / 8322 / 8290 / 8180 / 8160 / 8085.

 RESISTANCE:- 8383.05 / 8408 / 8430 / 8475 / 8550 / 8600 / 8650.

(Figures in bold are important)

Nifty opened on a positive note at 8354.10 and made a high of 8378.70 and low of 8321.85 for the day before closing the day near the high at 8362.65. Technically it is ok now, but since it has started moving sideways in last few days which is indicative of a big move ahead on either side in coming days,so some caution is advised.

TECHNICAL OBSERVATION

1.It is moving  sideways for last 4-5 trading session making a flag pattern on the chart and the range for it is between 8383.05--- 8290.25 and breakout on either side will set the direction for coming days. 

2. At present it is moving in a channel and today it broke the trend-line intra-day but closed within the channel but just near the trend-line, the range for channel is between 8575—8400 (this reading moves up every day) for 12-11-14.and If it does not move above 8400 on 12-11-14 then it will be first sign of weakness and indicative of possible correction ahead.

3. One technical parameter suggest that going up it will face huge resistance in the region of 8380---8475 for 12-11-14 and since we are not far away from this range, therefore caution is advised. The strong support exist at 8160.

In view of the above correction looks imminent in coming days, therefore I suggest to book at least part profit on long trades now and keep booking profit on the rise as well and sit on the cash so that one can re-enter again after a reasonable correction because the up trend is still intact. Those who want to hold the long position should get alerted below 8320 and exit trade if it closes below 8290, Avoid fresh long trade below 8290 for sure.

REMARK:- Long term trend is  up ,but it seems that correction is around the corner therefore traders are advised to book part profit in long trades here and on the rise too and avoid fresh long trades below 8290 for sure. 

   

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.

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.

Note: Price stated here is of spot market

Contact me for strategic guidance to enter and exit the trade

Trading Callas For-11-11-14

CNX-Technical View For-11-11-14

CNX-Bank Index closed at 17262.40 on 10-11-2014

SUPPORT: - 17087 / 17060 / 17045 / 16560 / 16309.70 / 16157.05 / 15973 / 15742.05

RESISTANCE: - 17425.20 / 17490 / 17640 / 17800 & 18060.

  (Figures in bold are important)

Index opened on a flat to positive note at 17364.65 and made a high of 17412 and then made a low of 17202.20 for the day before closing at 17262.40 but could not cross the high of 17425.20 it made on 5-11-14 coming so close to it,  today’s move showing  some sign of fatigue in the index and indicate that correction may be round the corner in it. Technically it is still OK. but as it is moving in a channel and the range for it is between 17950--17245(it will move up every day) for 11-11-14 and break out on either side will decide whether the rally will continue or correction will set in, since it is near the lower range of the channel therefore caution is advised on long trade because it may correct from here  and if correction sets in it could be significant one, therefore it is advised to book at least part profit in long trades here. It will give first sign of weakness and of impending correction if it breaks the channel lower range of 17245 and stays below it. Avoid long trade completely if it consistently starts trading below 17045. Going up it will face stiff resistance at 17490 / 17640 / 17800 &17780 level.

REMARK:-  :- Long term trend is  up but traders are advised to book part profit in long trades and avoid fresh long trades below 17190 on 11-11-14.

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.

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.

Note: Price stated here is of spot market

Contact me for strategic guidance to enter and exit the trade

Nifty-Technical View For-11-11-14

NIFTY CLOSED AT 8344.25ON 10-11-14

SUPPORT: - 8330.75 / 8322 / 8297 / 8180 / 8160 / 8085.

 RESISTANCE:-  8348.15 / 8383.05 / 8408 / 8430 / 8475 / 8550 / 8600 / 8650.

(Figures in bold are important)

Nifty opened flat at 8337.80 and made a low of 8304.45 and thereafter made a new all time high of 8383.05 before closing the day at 8344.25.Technically it is still ok but as it is moving in a channel and the range for it is between 8523—8340(it will move up every day) for 11-11-14 and break out on either side will decide whether the rally will continue or correction will set in, since it is near the lower range of the channel therefore caution is advised on long trade because it may correct from here  and if correction sets in it could be significant one, therefore it is advised to book at least part profit in long trades here. It will give first sign of weakness and of impending correction if it breaks the channel lower range of 8340 and stays below it. Avoid long trade completely if it consistently starts trading below 8300.Going up it will face stiff resistance at 8430 / 8475 & 8550. 

REMARK:- Long term trend is  up ,traders are advised to book part profit in long trades and avoid fresh long trades below 8300.   

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.

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.

Note: Price stated here is of spot market

Contact me for strategic guidance to enter and exit the trade

DOW STAGE V SHAPE RECOVERY -9-11-14

DOW JONES INDUSTRIAL AVG INDEX CLOSED AT 17573.90 ON 7-11-14

SUPPORT:- 17390 / 17350 / 17278 & 16937

 RESISTANCE :- 17660 / 18280 & 18515

(Figures in bold are important)

Dow Jones made a top on 19.9.14 at 17350.64 and then went down sharply  to make a low of 15855.12 on 15.10.14 threatening the long term up -trend but thereafter it made a sharp V shape recovery and went on to make new all time high of 17575.30 on 7-11-14 in 18 trading session. It was a huge move and surprising too as nobody could have expected it. Technically it is looking o.k now but due caution is advised as this rise was vertical one therefore it corrects from here then the fall could be vertical too.  

At present it is moving in a channel and the range for it is 18030—17560(this reading will move up every day) for 10-11-14 ,since it is near the lower range of the channel one should be alert in long trade  because breakout on the either  side will decide that whether up move will continue or correction will set in. The strong support for it exist at 17350 but it will give the first sign of weakness if it breaks the lower range of the channel and if it starts trading below 17100 would be the potential sign of weakness. 

..REMARKS:-Long term up trend is back on track with V shape recovery but extreme caution is advised in long trade as it had a vertical rise and if it corrects now then the fall could be vertical too.

Please use support and resistance level as entry, exit and target points and also as trailing stop loss in favorable trade. Volatility could be there so trade cautiously and DO NOT TRADE WITHOUT STOP LOSS.

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.

 Contact me for strategic guidance to enter and exit the trade

Trading Calls For--10-11-14

Nifty-Technical View For-10-11-14.

NIFTY CLOSED AT 8337 ON 7-11-14

SUPPORT: - 8330.75 / 8322 / 8297 / 8180 / 8160 / 8085.

RESISTANCE:-  8348.15 / 8365.55 / 8408 / 8430 / 8475 / 8600 / 8650.

(Figures in bold are important)

Nifty opened flat to negative at 8331.85 and made a high of 8360.35 but could not cross the previous day high of 8365.55 and made a low of 8290.25 during the day before closing at 8337.Technically it is still OK and suggest buy on dip but since it had a significant rise of around 650 points in 12 trading session therefore caution is advised on long trade because it may correct from here and if correction sets in it could be severe one. 

As you are already aware that nifty at present is moving in a channel and the range for it is between 8473---8300(it will move up every day) for 10-11-14,since it is near the lower range and may  break it and if it does then it will trigger  correction, therefore traders are advised to book at least part profit in long trade here and on the rise and  near the upper band of the range for sure i.e 8473 and re- enter again near the lower band i.e.8300 with a stop loss of below 8280 till the breakout happens. I would suggest to avoid fresh long position if it consistently starts trading below 8310 and re-enter only if it moves above 8350 and stays with a stop loss of below 8300 for the entire month of November-14.Please avoid fresh long trade below 8365.55 & 8290 on 10-11-14 for sure. Going up it will face stiff resistance at 8430 / 8525 / 8650 & 8675  level and I reiterate that this on- going rally may exhaust around these levels and correction may set ,since we are not far away from these levels therefore extreme caution is advised on long trades. 

REMARK:- Long term trend is  up ,therefore buy on dip is suggested at appropriate levels  and with an adequate stop loss but avoid fresh long trade below 8365.55 & 8290 on 10-11-14.Trade with extreme caution because correction looks imminent .

   

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.

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.

Note: Price stated here is of spot market

Contact me for strategic guidance to enter and exit the trade