CNX-Bank Index-Technical View For-1-1-15

CNX-Bank Index closed at 18736.65on 31-12-2014

SUPPORT: - 18676.10 / 18589 / 18532 / 18413.75 / 18356.30 / 18313.10 / 18301 / 18183 / 18109.35 / 18051 / 17890.85 / 17546.70 / 17502.45.

RESISTANCE: - 18807 / 18875.45 / 18923.60 & 19235 .

(Figures in bold are important)

Index  opened on a firm note at 18659.60 and the open was the low also and thereafter it moved up and made a high of 18774.20 before closing the day at 18736.65.It ended the  year 2014 on a very positive and firm note. One can try fresh long call now with a stop loss of below 18640 and add further long position above 18780 with a stop loss of below 18720 for a target of 18875 & 18923.Those who are still holding long position should avoid fresh long position if it consistently starts trading below 18720 and get alerted in long position below 18470 and exit trade if it moves below 18400 and stays. Please avoid long call below 18413 for sure. Going up it will face resistance at 18807 / 18876 / 18923 & 19235 and moving down it will have support at 18676 / 18659 / 18589 / 18532 & 18413.

REMARK:-  :- Long term up trend is intact .Long call can be tried above 18736 with a stop loss of below 18640 for a target of 18875 & 18923.

 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-31-12-14

BSE-Sensex-Technical View For-31-12-14

BSE-Sensex  closed at 27403.54on 30-12-2014

SUPPORT: - 27372 / 27324 / 27160 / 26997/ 26795 / 26469.

RESISTANCE: - 27526 / 27646 / 27740 / 27851.10 / 27924 / 27980 / 28268 / 28823.

(Figures in bold are important)

Sensex opened on a positive note at 27478.30 and the open was the high also and then made a low of 27312.29 before closing the day at 27403.54.It closed a shade higher today then its previous days close which indicate some indecisiveness. I would therefore suggest to take fresh long call only if it moves above 27572 and stays for some time and for those who are holding long call now are advised not to add fresh position if it consistently starts trading below 27330 and should get alerted below 27240 and exit trade below 27200. Short call can be tried if it moves below 27240 and stay with a stop loss of above 27270 for a target of 27095. Please avoid long call below 27090 for sure for the entire week. Going down it can have support at 27240 /27160 / 27090 / 27024 / 26997 & 26795, moving up it will have resistance at 27526 / 27646 / 27740 / 27852 / 27925 & 28268. The overall bias is mixed now with a slight tilt on the downside till it moves above 27852 and stays.

REMARK:-  :- Long term up trend is intact .I suggest  not to initiate any trade in last day of the current year 2014.

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.

CNX-Bank Index-Technical View For-31-12-14

CNX-Bank Index closed at 18647.55on 30-12-2014

SUPPORT: - 18589 / 18532 / 18413.75 / 18356.30 / 18313.10 / 18301 / 18183 / 18109.35 / 18051 / 17890.85 / 17546.70 / 17502.45.

RESISTANCE: - 18676.10 / 18700.70 / 18875.45 / 18923.60.

(Figures in bold are important)

Index opened on a positive note at 18573.25 and made a high of 18671.95 and a low of 18428.10 before closing the day at 18647.55.I would advice intra-day trader to take fresh long call only if it moves above 18710 and stay and for those who are still holding long call now should get alerted below 18500 and exit trade below 18350. Short call can be tried if it consistently trades below 18500 with a stop loss of 18540. Please note that  long call should be avoided for sure below 18424 for the entire week. Going down it can find support at 18589 / 18528 / 18428 / 18380 / 18213 / 18045 & 17837 and moving up it will have resistance at 18676.10 / 18710 /18876 & 18924.

REMARK:-  :- Long term trend is  up , I suggest  not to initiate any trade in last  day of the current year 2014 and only start a fresh in the year 2015.

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---31-12-14

NIFTY CLOSED AT 8248.25 ON 30-12-14

SUPPORT: - 8216 / 8180 / 8160.90 / 8147 / 8115 / 8056 / 7961.35 / 7949 / 7936 / 7856 / 7819 / 7723.85 / 7540 / 7422.15.

 RESISTANCE:-  8270 / 8290.25 / 8364.75 / 8373 / / 8468 / 8504.65 / 8535.35 / 8627.

(Figures in bold are important)

Nifty opened on a positive note at 8260.30 and made a high of 8268.25 and low of 8220.55 before closing the day at 8248.25.It moved in a short range today and closed a shade higher then its previous days close which indicate some indecisiveness. I would therefore suggest to take fresh long call  only if it moves above 8300 and stays for some time and those who are still holding long call now are advised not to add fresh position if it consistently starts trading below 8230 and should get alerted below 8200 and exit trade below 8170. Short call can be tried if it moves below 8200 and stay with a stop loss of above 8220 for a target of 8160.Please avoid long call below 8160 & 8147 for sure for the entire week .Going down it can have support at 8160 / 8147 / 8115 / 8051 & 7949,moving up it will have resistance at  8270 / 8279.15 / 8295 & 8365

.   

REMARK:-  :- Long term up trend is intact .I suggest  not to initiate any trade in the last day of the  year 2014.

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---30-12-14

NIFTY CLOSED AT 8246.30 ON 29-12-14

SUPPORT: - 8216 / 8180 / 8160.90 / 8147 / 8115 / 8056 / 7961.35 / 7949 / 7936 / 7856 / 7819 / 7723.85 / 7540 / 7422.15.

 RESISTANCE:-  8270 / 8290.25 / 8364.75 / 8373 / / 8468 / 8504.65 / 8535.35 / 8627.

(Figures in bold are important)

Nifty opened on a positive note at 8214.70 and the open was the low also and it made a high of 8279.15 before closing the day at 8246.30.I would suggest to avoid any trade in  two trading session left in the current year of 2014 and start a fresh in the new year of 2015. However aggressive intra- day trader can trade and they are advised to try fresh long call above 8280 only. Those who are still holding long call now should not add fresh long position below 8230 and get alerted in long position if it starts trading below 8200 and exit trade if it moves below 8170. Short call can be tried if it consistently starts trading below 8230 with a stop loss of above 8250 for a target of 8160. Please avoid long call below 8160 & 8147 for sure for the entire week .Going down it can have support at 8160 / 8147 / 8115 / 8051 & 7949,moving up it will have resistance at  8270 / 8279.15 / 8295 & 8365.The overall bias is mixed with a slight tilt on the downside till it moves above 8375 and stays.

.   

REMARK:-  :- Long term up trend is intact .I suggest  not to initiate any trade in last two days of the current year 2014.

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

BSE-Sensex-Technical View For---30-12-14

BSE-Sensex  closed at 27395.73on 29-12-2014

SUPPORT: - 27372 / 27324 / 27160 / 26997/ 26795 / 26469.

RESISTANCE: - 27526 / 27646 / 27740 / 27851.10 / 27924 / 27980 / 28268 / 28823.

  (Figures in bold are important)

Sensex opened on a positive note at 27266.49 and the open was the low also and it made a high of 27507.25 before closing the day at 27395.73.I would suggest not to initiate any trade in  two trading session left in the year  2014 and start a fresh in the new year of 2015. However aggressive intra -day trader can trade and they are advised to try fresh long call only above 27520. Those who are still holding long call now should not add fresh long position below 27380 and get alerted in long position if it starts trading below 27230 and exit trade if it moves below 27200. Short call can be tried if it consistently starts trading below 27230 with a stop loss of above 27270 for a target of 27095. Please avoid long call below 27090 for sure for the entire week . Going down it can have support at 27240 /27160 / 27090 / 27024 / 26997 & 26795, moving up it will have resistance at 27852 / 27925 & 28268. The overall bias is mixed  now with a slight tilt on the downside till it moves above 27852 and stays.

.  

REMARK:-  :- Long term up trend is intact .I suggest  not to initiate any trade in last two days of the current year 2014.

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

CNX-Bank Index-Technical View For-30-12-14

CNX-Bank Index closed at 18528.35on 29-12-2014

SUPPORT: - 18413.75 / 18356.30 / 18313.10 / 18301 / 18183 / 18109.35 / 18051 /  17890.85 / 17546.70 / 17502.45.

RESISTANCE: - 18532 / 18589 / 18676.10 / 18700.70 / 18875.45 / 18923.60.

(Figures in bold are important)

Index opened on a positive note at 18589.60 and made a high of 18700.70 and  a low of 18501.05 before closing the day near the low at 18528.35.Today’s move showed some weakness therefore  fresh long call should be completely avoided  below 18600 on 30-12-14 and for those holding long call now should get alerted below  18445 and exit trade below 18330 . In fact short call can be tried if it consistently trades below 18557 with a stop loss of 18600. Going down it can find support at 18448 / 18380 / 18213 / 18045 & 17837 and moving up it will have resistance at 18590 / 18676.10 / 18700.70 /18876 & 18924.

REMARK:-  :- Long term trend is  up , I  would suggest  not to initiate any trade in last two days of the current year 2014 and only start a fresh in the year 2015.

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---29-12-14

NIFTY CLOSED AT 8200.70 ON 26-12-14

SUPPORT: -  8180 / 8160.90 / 8147 / 8115 / 8056 / 7961.35 / 7949 / 7936 / 7856 / 7819 / 7723.85 / 7540 / 7422.15.

 RESISTANCE:- 8216 / 8270 / 8290.25 / 8364.75 / 8373 / / 8468 / 8504.65 / 8535.35 / 8627.

(Figures in bold are important)

Nifty opened on a positive note at 8204.80 and made a high of 8234.55 and then moved down and made a low of 8147.95 before closing the day and weekend at 8200.70.After two strong down day it took a breather today and closed little higher at 8200.70 but closing higher does not show the required strength in it. It can regain the up momentum only, if it moves above 8375 & 8468 and stay, chances of which are looking bleak at this point of time,looking at other technical parameter also it seems that nifty may seek lower levels in coming days. Furthermore if it fails to hold the level of 8115 & 8051 then the recent bottom of 7961.35 it made on 17-12-14 can be decisively broken.  I would therefore suggest to wait and watch for initiating long trade at least till clarity on short bottom formation emerges. I would also advice to  try long call only if it moves above 8375 or at least above 8341(it changes every day) which is the upper band of the short term moving averages and stays otherwise try short call on the rise at appropriate level with an adequate stop loss or if it trades below 8160 with a stop loss of 8210, aggressive and intra-day trader can try long call above 8216 with a stop loss of below 8160 on 29-12-14 after watching at least half an hour trade. Please avoid long call below 8160 & 8147 for sure for the entire week starting from 29-12-14.Going down it can have support at 8160 / 8115 / 8051 & 7949,moving up it will have resistance at 8225 / 8270 / 8295 & 8365.   

REMARK:-  :- Long term up trend is intact but since nifty is in correction mode ,therefore it is suggested to avoid long call for now and below 8160 & 8147 for sure for the entire week starting from 29-12-14. Short can be tried on the rise or below 8160.

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.

CNX-Bank Index-Technical View-29-12-14

CNX-Bank Index closed at 18557.20on 26-12-2014

SUPPORT: - 18532 / 18413.75 / 18356.30 / 18313.10 / 18301 / 18183 / 18109.35 / 18051 /  17890.85 / 17546.70 / 17502.45.

RESISTANCE: - 18589 / 18676.10 / 18875.45 / 18923.60.

(Figures in bold are important)

Index opened on a positive note at 18602.55 and made a high of 18681.75 and low of 18448.60 before closing the weekend at 18557.20.Technically it is still looking good therefore existing long position could be held on to and fresh long call can be added above 18560 but please get alerted and avoid fresh long call if it breaks below 18535 &18450 and stay and exit long trade if closes below 18280. Going down it can find support at 18380 / 18213 / 18045 & 17837 and moving up it will have resistance at 18589 / 18676.10 / 18876 & 18924.

REMARK:-  :- Long term trend is  up ,Technically looking o.k therefore long call can be tried as suggested herein-above. Avoid long call below 18424 for the entire week starting from 29-12-14.

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

BSE-SENSEX-Technical View---29-12-14

BSE-Sensex  closed at 27241.78on 26-12-2014

SUPPORT: -  27160 / 26997/ 26795 / 26469.

RESISTANCE: -27324 / 27372 / 27526 / 27646 / 27740 / 27851.10 / 27924 / 27980 / 28268 / 28823.

  (Figures in bold are important)

Sensex opened on a positive note at 27215.19 and made a high of 27370.63 and then moved down and made a low of 27091.38 before closing the day and weekend at 27241.78.After two strong down day it took a breather today and closed a shade higher at 18241.78 then the previous days close but it is still not showing the required strength in it. It can regain the up momentum only, if it moves above 27924 & 28268 and stay, chances of which are looking slim at this point of time, furthermore some other important technical parameters are showing distinct sign of weakness and indicates that it may seek lower level in coming days and it could break 26108 mark. I would therefore suggest to avoid long call now till clarity on short bottom formation emerges. Please  note if it fails to hold the level of 26997 & 26795 then the recent bottom of 26469.42 it made on 17-12-14 can be taken out for sure. I would therefore suggest to  try long call only if it moves above 27924 or above 27750(it changes every day) which is the upper band of the short term moving averages and stays otherwise try short call on the rise at appropriate level with an adequate stop loss or if it trades below 27180 with a stop loss of 27260, aggressive and intra-day trader can try long call above 27250 with a stop loss of below 27200 on 29-12-14 after watching at least half an hour trade. Please avoid long call below 27180 & 27090 for sure for the entire week starting from 29-12-14.Going down it can have support at 27160 / 27024 / 26997 & 26795,moving up it will have resistance at 27852 / 27925 & 28268. 

 

REMARK:-  :- Long term up trend is intact but since nifty is in correction mode ,therefore it is suggested to avoid long call for now and below 27180 & 27090 for sure for the entire week starting from 29-12-14. Short call can be tried on the rise or below 27180 with a proper stop loss.

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-29-12-14

Trading Calls For-26-12-14

BSE-SENSEX- Technical View---26-12-14

BSE-Sensex  closed at 27208.61on 24-12-2014

SUPPORT: -  27160 / 26997/ 26795 / 26469.

RESISTANCE: -27324 / 27372 / 27526 / 27646 / 27740 / 27851.10 / 27924 / 27980 / 28268 / 28823.

(Figures in bold are important)

BSE-Sensex opened on a flat to positive note at 27530.26 and made a high of 27571.25  and then went down sharply in last hour trade and made a low of 27146.52 for the day before closing the day near the lower end at 27208.61.It had two strong down days in a row  and,today it has filled the up gap it created on 19^th Dec-14 but the up  gap of 18^th Dec-14  still exist and if the on going down move continues for another 2-3 days then it may  make an effort to fill this  gap too and if it does then it may come down to 26871 level Chances of which are looking reasonably good, going down it can find support at  27160 / 26997 & 26795 and if it fails to hold the level of 26997 & 26795 then it can break the bottom of 26469.42 it made on 17-12-14 which is a distinct possibility.Therefore I would suggest to avoid long call completely as of now  and below 27140 on 26-12-14 for sure instead short call can be tried on the rise at appropriate level and with a proper stop loss. Going up it will have resistance at 27646 / 27924 & 28268.

TECHNICAL VIEW

Today it has broken its short term moving averages range which is a bad sign and the range for it is between 27802-----27268(it changes every day) for 26-12-14.

Some other technical parameters have also started showing sign of weakness and indicates that if weakness continues then it may break 26100 level in coming days

I would also like to mention here that the long term moving averages range is between 26640---25230(it changes every day) for now and if it  breaks the upper band of the range then it will be first sign of  threat to the long term up trend and breaking of the lower band of the range and staying there would be a great concern to the up-trend, therefore if the up- trend has to stay then it cannot remain below even the upper band of the moving averages range for a longer period. So be watchful if  it falls within this  range.

Since it is running below its short term moving averages and other technical parameters are also becoming weak therefore long call should be completely avoided till it bounces back above its short term moving average upper band and stay or if it crosses the recent top of 27851.10 it made on 23-12-14,if it fails to do so fast then it may have reasonable to significant fall in coming days . Kindly note that long position should be tried and build up if it falls within the long term moving average range with a stop loss of below 25100.

REMARK:-  :- Long term up trend is intact but since sensex had two strong down day in a row ,so it is suggested to avoid long call for now till this on- going fall is arrested.

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

CNX-Bank Index-Technical View--26-12-14

CNX - Bank Index closed at 18535.35 on 24-12-2014

SUPPORT: - 18532 / 18413.75 / 18356.30 / 18313.10 / 18301 / 18183 / 18109.35 / 18051 /  17890.85 / 17546.70 / 17502.45.

RESISTANCE: - 18676.10 / 18875.45 / 18923.60.

(Figures in bold are important)

Index opened on a flat to negative note at 18582.75 and made a high of 18709.15 and in last hour trade it moved sharply down and made a low of 18493.30 before closing the day near the low at 18535.35.Although it had two down day in a row but it is still exhibiting  good strength in comparison with nifty. Please note that the gap it had left going up on 18^th & 19^th Dec-14 still exist and if the down day continue for next 2-3 days then it may make an attempt to fill these gaps and if it does then it can come down to 18051 level, but as of now technically it is looking o.k therefore existing long position could be held on to and get alerted only and avoid fresh long call if it breaks 18470 and stay and exit long trade if closes below 18280. Going down it can find support at 18380 / 18213 / 18045 & 17837 and moving up it will have resistance at 18589 / 18676.10 / 18876 & 18924.

REMARK:-  :- Long term trend is  up ,Technically looking o.k but since it had two down day in a row therefore avoid long call if it trades below 18470 on 26-12-14.I would suggest to take fresh long call above 18876.

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 Overview---26-12-14

NIFTY CLOSED AT 8174.10 ON 24-12-14

SUPPORT: -  8160.90 / 8115 / 8056 / 7961.35 / 7949 / 7936 / 7856 / 7819 / 7723.85 / 7540 / 7422.15.

 RESISTANCE:-8180 / 8216 / 8225 / 8255 / 8263.45 / 8290.25 /  8355.65 / 8364.75 / 8414 / 8454.50 / 8504.65 / 8535.35 / 8627.

(Figures in bold are important)

Nifty opened on a flat to positive note at 8272.05 and made a high of 8286.40 and thereafter moved within a range before plunging down in the last hour of trade and made a low of 8155.25 and closed the day near the low at 8174.10. It had two strong down day in a row and in today’s  down move it has also filled the gap it left on 19^th Dec-14 .It seem that the on going pull back rally has fizzled  out  and it may seek  lower level in coming days but in between short up move cannot be ruled out .Please note that in this down move if it fails to hold the level of 8115 & 8051 then it will surely break the recent bottom of 7961.35 it made on 17-12-14,chances of which are looking reasonably bright at this point of time. Therefore I would suggest to avoid long call completely as of now  and below 8155 on 26-12-14 for sure instead short call can be tried on the rise at appropriate level and with a proper stop loss. Going up it will find resistance at 8225 / 8255 & 8295.

TECHNICAL VIEW

It has broken its short term moving averages range today which is a bad sign and the range for it is between 8347-----8199(it changes every day) for 26-12-14.

Some other technical parameters have also started showing sign of weakness and if it continues then it may witness further fall.

I would also like to mention here that the long term moving averages range is between 7967---7540(it changes every day) for now and if it  breaks the upper band of the range then it will be first sign of a threat to the long term up trend and breaking of the lower band of the range and staying there would be a great concern to the up-trend, therefore if the up trend has to stay then it cannot remain below even the upper band of the moving averages range for a longer period. So be watchful if it falls within  this range.

Since it is running below its short term moving averages and other technical parameters are also becoming weak therefore long call should be completely avoided till it bounces back above its short term moving average upper band and stay or it crosses the recent top of 8364.75 it made on 23-12-14,if it fails to do so fast then it may have reasonable to significant fall in coming days . Kindly note that long position should be tried and build up if it falls within the long term moving average range with a stop loss of below 7500.

REMARK:-  :- Long term up trend is intact but since nifty had two strong down day in a row ,so it is suggested to avoid long call for now till this on- going fall is arrested.

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