A TECHNICAL VIEW ON CNX-NIFTY FOR---1.11.2021

 

CNX-NIFTY

 Open—17833.05--High—17915.85—Low—17613.10---Close-17671.65 on 29.10.2021.

Support:17613.15/17576/17452.90/17326.10/17254.20/17055/16701.85.                                      

Resistance: -17763/17792.95/17884.60/17947.65/17968.50/18041.95/18342.05/18604.50.           

 (Bold and underlined figures are most important)

It opened on a negative note and crossed its yesterday’s close also but could not sustain and plunged down sharply within minutes and hit a low of 17613.10 but bounced back sharply for a while, but eventually closed with a loss of 185.60 points. It is into deep short term correction mode  , which is a  very weak indication and it could last for few days/weeks, furthermore it is also below its first 4 top point of its critical support range of18064---17980---17887---17860---17772---17702---17628---17452(figures will change every day) which is very concerning, it may bounce back from any of the remaining points  but sustained break below the range will put the on-going uptrend in jeopardy and it may see accelerated fall. Please note that it will regain up momentum only if it closes above this range and sustain. Moving down further its other important support points are at 17326.10---17254.20---16701---16565.60---16500(figure may change), please note that sustained break below 16500 will put the long term uptrend in potential danger. It is important to mention here that it could come out of corrective mode if it closes above 18332.70 and sustain, but if it moves above 17847.10 (figure may change)and sustain on the closing basis then it may  stage a pullback rally again, else down move may continue with in between short up move. However moving up its critical resistance points could be at 17947.65---17992---18028---18078.55---18109---18226---18286----18302.75---18332.70---18370---18407---18454---18478---18512---18525---18550---18605(figures may change) and it could react from any of these points and then may move up again or may break down also which may please be noted. Kindly note that now it is a sell on the rise markets till visible sign of correction completion emerges.

It is important to mention here that its long term technical setup is still looks good for the uptrend to continue as long as it holds 16500(figure will change every day). It is into deep short term correction mode now and moved below its few critical support points also as mentioned above therefore further fall cannot be ruled out if it remains below it. Furthermore please note that few technical indicator are giving weak indication which is also concerning and may accelerate the fall in coming days. Since it is in corrective mode therefore sell on the rise strategy should be adopted till visible sign of correction completion emerges. It is suggested to avoid long trade as of now.

In view of the above, it is into correction mode therefore safe traders can try long trade only if it closes above its pullback threshold point of 17847.10(figure may change) or its correction completion threshold point of 18332.70 or if it gives visible indication of correction completion at the lower levels. It is suggested to avoid long trade for now. However for possible pullback gains, aggressive traders can try long trade if it holds 17613 for some time or can try buy on decline near 17450 but not below it. I caution here that long trade in a corrective mode could be a highly risky affair; therefore one should be extremely cautious in the long trade at this point of time.  It is in the long term uptrend but now in correction mode, therefore short trade can be attempted on the rise and at appropriate point or can be tried on the price breakdown for taking advantage of the intraday gains.

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.

TRADING STRATEGY (Suggested)

1. Buy if it holds 17613 for some time with a stop loss of 17580. It is for the aggressive traders and could be a highly risky trade.

Or

Buy on decline near 17450 but not below it with a stop loss of 17400. It is for the aggressive traders and could be a highly risky trade.

2. Sell on the rise near or within the range of 17885---17920 with a stop loss of 17950. It could be a highly risky trade but worth trying for intraday gain.

Or

Sell if it moves below 17613 and maintain for some time with a stop loss of 17680. It could be a highly risky trade but worth trying for intraday gain.

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. 

Note: Price stated here are of spot market. 

Contact me for strategic guidance to enter and exit trade.

Thanks 

Narendra Kumar Surana

suranank@gmail.com

Mobile—8240951127/9831313654.

 

 

A TECHNICAL VIEW ON CNX--BANK NIFTY FOR—1.11.2021

 

CNX--BANK NIFTY

Open—39424.55---High—39775.25--Low—38426.65---Close—39115.60 on 29.10.2021.

Support:39292.80/38377.25/38112.75/37708.75/37315.20/36876.35. 

Resistance: -39292.80/40011.15/41367.25/41829.60/41965/42036/42222.

(Bold and underlined figures are most important)

It opened on a negative note and crossed its yesterday’s close also but could not sustain and plunged down sharply within minutes and hit a low of 38426.65 but bounced back sharply but eventually closed with a loss of 393.35 points. It is into deep short term correction mode now. Furthermore it is decisively below its first lair of critical support range of 40577—40287---39968(figure will change every day) which is highly concerning and therefore further fall from here looks imminent with in between short relief rallies. Please note that it will regain up momentum only if it closes above this range and sustain.  Its second lair of critical support range is 38020---37806---37550(figure will change every day), it may bounce back from any of these points but sustained break below the range will put the on-going uptrend in jeopardy and it may witness accelerated fall. Moving down further its other important support points are at 36876.35---36525.95---36320(figure may change), please note that sustained break below 36320 will put the long term uptrend in potential danger. It is important to mention here that it could come out of corrective mode if it closes above 40661 & 41231 and sustain, but if it moves above 39229.75 (figure may change)and sustain on the closing basis then it may  stage a pullback rally again, else down move may continue with in between short up move. However moving up its critical resistance points could be at 39727---39938---40011.15---40128---40247---40537---41027---41149---41367.25---41830(figures may change) and it could react from any of these points and then may move up again or may break down also which may please be noted. Kindly note that now it is a sell on the rise markets till visible sign of correction completion emerges. 

It is important to mention here that its long term technical setup still looks good for the uptrend to continue as long as it holds 36320(figure will change every day). It is into deep short term correction mode and moved below its few critical support points also as mentioned above, which indicates terrible weakness, therefore further fall cannot be ruled out if it remains below it. Furthermore please note that few important technical indicators are also turning weak therefore it seems that fall may accelerate in coming days/weeks. Since it is in corrective mode therefore sell on the rise strategy should be adopted till visible sign of correction completion emerges. It is suggested to avoid long trade as of now.

In view of the above, it is into correction mode therefore safe traders can try long trade only if it closes above its pullback threshold point of 39229.75(figure may change) or its correction completion threshold point of 41231(figure may change) or if it gives visible indication of correction completion at the lower levels. It is suggested to avoid long trade for now. However, aggressive traders can try long trade if it moves above 39229.75 and maintain for some time or can try buy on decline near or within the range of 38020---37806---37550(figure will change every day) but not below it. I caution here that long trade in a corrective mode could be a highly risky affair; therefore one should be extremely cautious in the long trade at this point of time.  It is in the long term uptrend but now in correction mode, therefore short trade can be attempted on the rise and at appropriate point or can be tried on the price breakdown for taking advantage of the intraday gains.

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.

TRADING STRATEGY (Suggested)

1. Buy on decline at appropriate points or near or within the range of 38020---37806---37550 but not below it with a stop loss of 37400. It is for the aggressive traders and could be a risky trade.

Or

Buy if it moves above 39229.75 and maintain for some time with a stop loss of 39100. It is for the aggressive traders and could be a highly risky trade.

 

2. Sell on the rise near or within the range of 39800---39900 with a stop loss of 40050. It could be a highly risky trade but worth trying for intraday gains.

Or

Sell if it moves below 39100 and maintain for some time with a stop loss of 39280. It could be a risky trade but worth trying for intraday gains.

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.

 Note: Price stated here are of spot market.

Contact me for strategic guidance to enter and exit trade.

Thanks 

Narendra Kumar Surana

suranank@gmail.com

Mobile—8240951127/9831313654.

 

 

A TECHNICAL VIEW ON CNX-NIFTY FOR---29.10.2021

 

CNX-NIFTY

 Open—18187.65--High—18190.70—Low—17799.45---Close-17857.25 on 28.10.2021.

Support:17792.95/17613.15/17567/17452.90/17326.10/17254.20/17055/16701.85.                      

Resistance: -17947.65/17968.50/18167.90/18604.45.                           

 (Bold and underlined figures are most important)

It opened on a negative note and could not even cross yesterday’s closing and plunged down sharply to close with a whopping loss of 353.70 points. The pullback rally of two days halted yesterday and abruptly ended today and it has slipped into deep short term correction mode today , which is a  very weak indication and it could last for few days/weeks, furthermore it has also broken the first 4 top point of its critical support range of18046---17963---17869---17860---17751---17694---17607---17452(figures will change every day) which is very concerning, it may bounce back from any of the remaining points but sustained break below the range will put the on-going uptrend in jeopardy and it may witness accelerated fall. Please note that it will regain up momentum only if it closes above this range and sustain on the closing basis. Moving down further its other important support points are at 17326.10---17254.20---16701---16565.60---16485(figure may change), please note that sustained break below 16485 will put the long term uptrend in potential danger. It is important to mention here that it could come out of corrective mode if it closes above 18332.70 and sustain, but if it moves above 17990 (figure may change)and sustain on the closing basis then it may  stage a pullback rally again, else down move may continue with in between short up move. However moving up its critical resistance points could be at 18028---18078.55---18286----18302.75---18332.70---18362---18407---18454---18478---18512---18525---18550---18605(figures may change) and it could react from any of these points and then may resume the uptrend again or may break down also which may please be noted. Kindly note that now it is a sell on the rise markets till visible sign of correction completion emerges.

It is important to mention here that its long term technical setup is still looks good for the uptrend to continue as long as holds 16485(figure will change every day). It slipped into deep short term correction mode and moved below its few critical support points as mentioned above therefore further fall cannot be ruled out it remains below it. Furthermore please note that few technical indicator are giving weak indication which is also concerning and may accelerate the fall in coming days. Since it is in corrective mode therefore sell on the rise strategy should be adopted till visible sign of correction completion emerges. It is suggested to avoid long trade as of now.

In view of the above, it is into deep short term correction mode therefore safe traders can try long trade only if it closes above its critical points of 17990 or 18332.70 or if it gives visible indication of correction completion at the lower levels. It is suggested to avoid long trade now. However, aggressive traders can try long trade on decline near or within the range of 17751---17694---17607 but not below it. I caution here that long trade in a corrective mode could be a highly risky affair; therefore one should be extremely cautious in the long trade at this point of time.  It is in the long term uptrend but now in correction mode, therefore short trade can be attempted on the rise and at appropriate point or can be tried on the price breakdown for taking advantage of the intraday gains.

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.

TRADING STRATEGY (Suggested)

1. Buy on decline near or within the range of 17751---17694---17607 but not below it with a stop loss of 17550. It is for the aggressive traders and could be a highly risky trade.

2. Sell on the rise near or within the range of 18030---18050 with a stop loss of 18110. It could be a highly risky trade but worth trying for intraday gain.

Or

Sell if it moves below 17799 and maintain for some time with a stop loss of 17870. It could be a highly risky trade but worth trying for intraday gain.

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. 

Note: Price stated here are of spot market. 

Contact me for strategic guidance to enter and exit trade.

Thanks 

Narendra Kumar Surana

suranank@gmail.com

Mobile—8240951127/9831313654.

 

 

A TECHNICAL VIEW ON CNX--BANK NIFTY FOR—29.10.2021

 

CNX--BANK NIFTY

Open—40915.15---High—40931.05--Low—39350.20---Close—39508.95 on 28.10.2021.

Support:39292.80/38377.25/38112.75/37315/36876.35/36525/36151. 

Resistance: -40011.15/41231/41367.25/41829.60/41965/42036/42222/42808/43050/43248/45178.

(Bold and underlined figures are most important) 

It opened on a flat to positive note but could not sustain and plunged down sharply to close with a whopping loss of 1365.40 points. It has slipped into deep short term correction mode today. Furthermore it has decisively broken its first lair of critical support range of 40537—40247---39938(figure will change every day) which is highly concerning and therefore further fall from here looks inevitable off course in between short relief rallies. Please note that it will regain up momentum only if it closes above this range and sustain. Its second lair of critical support range is 37987---37766---37522(figure will change every day), it may bounce back from any of these points but sustained break below the range will put the on-going uptrend in jeopardy and it may witness an accelerated fall. Moving down further its other important support points are at 36876.35---36525.95---36292(figure may change), please note that sustained break below 36292 will put the long term uptrend in potential danger. It is important to mention here that it could come out of corrective mode if it closes above 41231 and sustain, but if it moves above 39936 (figure may change)and sustain on the closing basis then it may  stage a pullback rally again, else down move may continue with in between short up move. However moving up its critical resistance points could be at 39936---40011.15---40247---40537---41367.25---41830(figures may change) and it could react from any of these points and then may move up again or may break down also which may please be noted. Kindly note that now it is a sell on the rise markets till visible sign of correction completion emerges. 

It is important to mention here that its long term technical setup still looks good for the uptrend to continue as long as it holds 36292(figure will change every day).  But it has slipped into deep short term correction mode today and broken other critical points also which indicates terrible weakness, therefore further fall cannot be ruled out. There was huge price destruction today but despite that except for one other important technical indicator are  still positive as of now, so watch out. Since it is in corrective mode therefore sell on the rise strategy should be adopted till visible sign of correction completion emerges. It is suggested to avoid long trade as of now.

In view of the above, it is into deep short term correction mode therefore safe traders can try long trade only if it closes above its critical points of 39936 or 41231 or if it gives visible indication of correction completion at the lower levels. It is suggested to avoid long trade now. However, aggressive traders can try long trade if it holds 39292 for some time or can buy on decline near or within the range of 37987---37766---37522 but not below it. I caution here that long trade in a corrective mode could be a highly risky affair; therefore one should be extremely cautious in the long trade at this point of time.  It is in the long term uptrend but now in deep correction mode, therefore short trade can be attempted on the rise and at appropriate point or can be tried on the price breakdown for taking advantage of the intraday gains.

 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.

TRADING STRATEGY (Suggested)

1. Buy on decline at appropriate points or near or within the range of 37987---37766---37522 but not below it with a stop loss of 37350. It is for the aggressive traders and could be a highly risky trade.

Or

Buy if it holds 39292 for some time with a stop loss of 39150. It is for the aggressive traders and could be a highly risky trade.

2. Sell on the rise near or within the range 40100---40200 with a stop loss of 40350. It could be a highly risky trade but worth trying for intraday gains.

Or

Sell if it moves below 39292 and maintain for some time with a stop loss of 39550. It could be a risky trade but worth trying for intraday gains.

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.

 Note: Price stated here are of spot market.

Contact me for strategic guidance to enter and exit trade.

Thanks 

Narendra Kumar Surana

suranank@gmail.com

Mobile—8240951127/9831313654.

 

 

INTRA-DAY TRADING CALLS FOR 28.10.2021

 

TRADING CALLS

 

1.  AXIS BANK.

Sell below-785, S/L-790, Target-774/763/754. 

2. HDFC BANK.

Sell below -1637, S/L-1647, Target---1627/1613/1599/1565. 

3. BAJAJ AUTO.

Sell below -3760, S/L-3780, Target---3735/3696/3680/3647. 

4. HERO MOTO CORP.

Sell below -2702, S/L-2715, Target---2679/2636/2600/2550. 

5. KOTAK MAHINDRA BANK.

Sell below-2176, S/L-2190, Target-2129/2115/2090. 

6. HINDUSTAN UNILEVER.

Sell below--2391, S/L-2405, Target—2370/2359/2336/2318. 

7. MAHINDRA & MAHINDRA.

Sell below--883, S/L-890, Target—872/850/830. 

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.