A TECHNICAL VIEW ON CNX-NIFTY FOR—1.8.2022

 

CNX-NIFTY

 Open—17079.50--High—17172.80—Low—17018.15---Close-17158.25 on 29.7.2022.

Support:17140/17003/16995/16894/16891.70/16888.70/16824.70/16793.85/16752.40/16701.95/16695/16627/16588/16565/16541/16490/16472/16410.20/16376.05/16275.50/16203.25/16172.60/16162.55/16133.57/15991/15986.42/15962.25/15914/15895/15775/15735.75/15671.45/15632.72/15578.55/15566/15513.45/15511.05/15450.90/15431.75/15367.50/15183.40.                                                                                           

Resistance:17298/17354.05/17387.15/17490.60/17639.50/17794.60/17947.55.

 (Bold and underlined figures are most important)

It opened with an up gap for the 2^nd day in a row and closed with a robust gain of 228.65 points. Please note that these up gap indicates strength but simultaneously weakness also because if it come down to fill the gap in next 3-4 trading session which is technically possible then it could be devastating, but if it does not fill the gap in the stipulated 3-4 days time then chances of filling the gap will recede but fear will still be there, which may please be noted. Here if it makes an effort to fill the today’s and yesterdays gap it created then it could come down to 16948 and then 16654 levels which please note, nonetheless it is showing good strength and likely to continue the uptrend with intermittent down correction. Moving up its key resistance points would be at 17298---17354.05---17387.15----17797---17920---18114.65---18350.95---18604.45 but in between it could face other resistance points too, please note market could correct from any of these points or earlier and then may resume the up move again. It is important to mention here that to pick up strong up momentum it has to move above 17354.05 & 17387.15 and sustain on the closing basis. Similarly moving down its key support points would be at 16999.86(this figure will scale up if it moves above 17172.80) ---16894---16793.85---16719.45---16703.30---16483.85---16438.15. Please note that, break below 16999.86 may push it into short correction, break below 16894 will weaken it and break below 16703.30 may deepen the correction and finally break below 16483.85 & 16438.75 may jeopardize the on-going uptrend.

The overall technical setup looks good as of now, furthermore some important technical indicators are positive on the daily chart and few indicators on the weekly chart also it is also making higher top & bottom on the line and the bar chart, so till it holds it recent bottom of 16483.85 & 16438.75 on the line & bar chart respectively the up move is likely to continue with in between down correction. It is important to mention here that if it has the desired strength it is not likely to break 16719.45 levels on the downside on the closing basis, which please note. It is a buy on dip market for sure as of now till it signals otherwise.

In view of the above observation for safe traders long trade can be tried if it moves above 17173 and maintains for some time with a stop loss of 17120 or can buy on decline near 17020 but not below it with a stop loss 16950. But aggressive traders can also try buy on decline near 16720 but not below it with a stop loss of 16670. Please note that long trade below 17020 could be a risky affair for the day. Although it is in the uptrend but short trade can also be attempted after a reasonable rise or on the price breakdown for intraday corrective gains. Sell on the rise near or within the range of 17320---17350 with a stop loss of 17400 or sell if it moves below 17150 with a short stop loss of 17200 or sell near if it does not moves above 17173 in first one and half hour of trade even intraday with a stop loss of 17215 . Since it is in uptrend short trade could be a risky bet but worth trying at this juncture. The short term bias is positive and medium and long term bias has also started improving but still not out of danger as of now. So be watchful.

MOST IMPORTANT: - Please note that it has already left 2 up gaps in a row and if it opens with a good upside gap on 1.8.2022 .i.e. well above 17172.80, it is suggested that a sell trade should surely be tried near or within the targeted range of 17320---17350 with a stop loss of 17400 because usually out of ten times eight times it corrects sharply on the 3^rd upside gap. Therefore I feel that this trade would be worth trying. Please not that it is likely to open up with an up gap as per SGX NIFTY reading now. So watch out.

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 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. 

m for strategic guidance to enter and exit trade.

Thanks 

Narendra Kumar Surana

suranank@gmail.com

Mobile—8240951127/9831313654.

 

 

 

TECHNICAL VIEW ON CNX-BANK NIFTY FOR—1.8.2022

 

 CNX-BANK NIFTY

Open—37717.30---High—37754.65---Low—37221.15---Close—37491.40 on 29.7.2022.

Support:37471/37238/36993/36876.35/36718.80/36651.85/36497.35/36375.35/36332/36083.70/35985.25/35926/35810.90/35762/35585.20/35543.10/35511/35481.7035327.90/35081/35016.30/34817.50/34650.95/34528/34327/34287/34233/34018.85/33908.95/33273.95/33080.45/33001/32842.30/32652.15/32415.25/32290.55/32155.35/32115.05/31906.55.

 

Resistance:37581.05/37708.75/37988.60/38112.75/38377.35/38426.65/38765.55/38855.55/39117.15/39197/39424.85/40160.20/41367.25/41829.60.

(Bold and underlined figures are most important).

It opened up with an up gap for the 2^nd day in a row but filled the today’s gap during the day and closed with a gain of 113.25 points. But the gap it created on 28.7.2022 is still there and if it makes an effort to fill the gap which is technically possible in remaining time of next 2-3 trading session then it can come down to 36808 but if it does not fill it in the stipulated time then chances of filling the gap will recede for now, but these gaps are dicey. Nonetheless it is showing good strength and likely to continue the uptrend with intermittent down correction. Moving up from here the key resistance points would be at 37708.75---37755---38134----38765.85---39547---39895 but in between it could face other resistance points too, please note that market could correct from any of these points or earlier and then may resume the up move again. Similarly moving down its key support points would be at 37399.22(this figure will scale up if it crosses its today’s high of 37754.65) ---36993---36738.95---36408.50----36248.60. Please note that close below 37399.20 could push it into short correction and close below 36739.95 could be an alert sign and break below 36465.12 & 36408.50 could push it into much deeper correction and may jeopardize the on-going uptrend.

The overall technical setup looks good as of now, furthermore some important technical indicators are positive on the daily and few indicators on the weekly chart also and it is making higher top & bottom on the line and the bar chart, so till it holds it recent bottom of 36408.50 & 36248.60 on the line & bar chart the up move is likely to continue with in between down correction. It important to mention here, that if it has the desired strength it is not likely to break 36738.95 on the closing basis, which please note. It is a buy on dip market for sure as of now till it signals otherwise.

In view of the above observation long trade can only be tried if it moves above 37755 and maintain for some time with a short stop loss of 37600 or can try buy on decline near 37399 but not below it with a stop loss of 37215. But aggressive traders can also try long trade if it moves above 37660 with a stop loss of 37470 or can buy on decline near 37220 with a stop loss of 37000. Although it is in the uptrend but short trade can also be attempted after a reasonable rise or on the price breakdown for intraday corrective gains. Sell on the rise near or within the range of 37900---38030 with a stop loss of 38180 or sell if it moves below 37220 with a stop loss of 37420 or sell near if it does not moves above 37755 in first one and half hour of trade even intraday with a stop loss of 37850 . Since it is in uptrend short trade could be a risky bet but worth trying at this juncture. The short term bias is positive and medium and long term bias has drastically improved but still not out of danger as of now. So be watchful.

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 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.

 

 

TECHNICAL VIEW ON CNX-BANK NIFTY FOR--29.7.2022

 

 CNX-BANK NIFTY

Open—37102.45---High—37414.40---Low—37028.50---Close—37378.15 on 28.7.2022.

Support37238/36993/36876.35/36718.80/36651.85/36497.35/36375.35/36332/36083.70/35985.25/35926/35810.90/35762/35585.20/35543.10/35511/35481.7035327.90/35081/35016.30/34817.50/34650.95/34528/34327/34287/34233/34018.85/33908.95/33273.95/33080.45/33001/32842.30/32652.15/32415.25/32290.55/32155.35/32115.05/31906.55.

 

Resistance37471/37581.05/37708.75/37988.60/38112.75/38377.35/38426.65/38765.55/38855.55/39117.15/39197/39424.85/40160.20/41367.25/41829.60.

(Bold and underlined figures are most important).

It opened up with a huge up gap today and closed with a robust gain of 594.40 points. It is exhibiting extraordinary strength as it is above well above its short, medium and long term moving averages on the daily, weekly and monthly chart which is commendable. Therefore uptrend should continue but with intermittent correction, furthermore despite all good technical setup market also upset sometime, so be alert and cautious in your trading approach. But it is definitely buy on dip market as of now. Moving up from here the key resistance points would be at 37708.75---38134----39547---39895 but in between it could face other resistance points too, please note market could correct from any of these points or earlier and then may resume the up move again. Similarly moving down its key support points would be at 37139.20(this figure will scale up if it crosses its today’s high of 37414.40) ---36993---36738.95---36408.50----36248.60. Please note that close below 37139.20 may push it into short correction and close below 36739.95 could be an alert sign and break below 36408.50 & 36248.60 could push it into much deeper correction. It is important to mention here that  it can make an attempt in next 3-4 trading session which is technically possible to fill the gap it created today and if it does then it could come down to 36809 but if it does not fill it in 3-4 days then the chances of filling the gap will recede.

The overall technical setup looks good as of now, furthermore some important technical indicators are positive on the daily and few indicators on the weekly chart also and it is making higher top & bottom on the line and the bar chart, so till it holds it recent bottom of 36408.50 & 36248.60 on the line & bar chart respectively and other key points on the downside as mentioned in the above paragraph the up move is likely to continue with in between down correction. It important to mention here, that if it has the desired strength it is not likely to break 36738.95 on the closing basis.

In view of the above observation long trade can only be tried if it moves above 37415 and maintain for some time with a stop loss of 37300 or can try buy on decline near 37139 but not below it with a stop loss of 37000. But aggressive traders can also buy on decline near 36740 and then near 36410 with a stop loss of 36650 and 36230 respectively. Please note that long trade below 36993 could be a risky affair for the day. Although it is in the uptrend but short trade can also be attempted after a reasonable rise or on the price breakdown for intraday corrective gains. Sell on the rise near or within the range of 37770---37850 with a stop loss of 37950 or sell if it moves below 36993 with a short stop loss of 37150. The short term bias is positive but medium and long term bias has improved drastically but still not out of woods. So be watchful.

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 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—29.7.2022

 

CNX-NIFTY

 Open—16774.85--High—16947.65—Low—16746.25---Close-16929.60 on 28.7.2022.

Support:16894/16891.70/16888.70/16824.70/16793.85/16752.40/16701.95/16695/16627/16588/16565/16541/16490/16472/16410.20/16376.05/16275.50/16203.25/16172.60/16162.55/16133.57/15991/15986.42/15962.25/15914/15895/15775/15735.75/15671.45/15632.72/15578.55/15566/15513.45/15511.05/15450.90/15431.75/15367.50/15183.40.                                                                                                                             

Resistance:16995/17003/17140/17298/17354.05/17387.15/17490.60/17639.50/17794.60/17947.55.

 (Bold and underlined figures are most important)

It opened up with an up gap and steadily moved up and closed with a good gain of 287.80 points. It decisively closed above its recent top of 16719.45 on the line chart and breakout point of 16793.85 on the bar chart which is a huge positive sign. Furthermore by closing above its critical point of 16894 it has opened up the upside range of 17298, so as long as it holds 16894 chances of hitting 17298 on the upside will be alive, but sustained break below 16894 could drag it down to 16490, which may please be noted, here please note that it has to move above its most important and critical points of 17354.0517387.15 and sustain on the closing basis to pick up strong up momentum. It is important to mention here that  it can make an attempt in next 3-4 trading session which is technically possible to fill the gap it created today and if it does then it could come down to 16654 but if it does not fill it in 3-4 days then the chances of filling the gap will recede. Moving up it will face resistance at 16995---17140---16175---17298---17354.05---17387.15. Similarly moving down key support points are at 16894---16827.55---16690---16531---16490---16417---16382---15991---15986.42. Please note that break below 16827.55(figure can change) could push it into short correction mode.

The overall technical setup looks good as of now, furthermore some important technical indicators are positive on the daily chart and it is also making higher top & bottom on the line and the bar chart, so till it holds it recent bottom of 16483.85 & 16438.75 on the line & bar chart respectively and other key points on the downside as mentioned in the above paragraph the up move is likely to continue with in between down correction. It important to mention here if it has the desired strength it is not likely to break 16719.45 on the closing basis

In view of the above observation long trade can be tried if it moves above 16950 and maintains for some time with a short stop loss of 16870 or can buy on decline near 16827 but not below it with a stop loss 16770. Although it is in the uptrend but short trade can also be attempted after a reasonable rise or on the price breakdown for intraday corrective gains. Sell on the rise near or within the range of 17100---17130 with a  stop loss of 17180 or sell if it moves below 16740 with a short stop loss of 16790.The short term bias is positive but medium and long term bias is still in danger as of now.

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 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. 

m 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—28.7.2022

 

CNX-NIFTY

 Open—16475.35--High—16653.45—Low—16438.75---Close-16641.80 on 27.7.2022.

Support:16627/16588/16565/16541/16490/16472/16410.20/16376.05/16275.50/16203.25/16172.60/16162.55/16133.57/15991/15986.42/15962.25/15914/15895/15775/15735.75/15671.45/15632.72/15578.55/15566/15513.45/15511.05/15450.90/15431.75/15367.50/15183.40.                                                                                                                                                           

Resistance:16695/16701.95/16752.40/16793.85/16824.70---837/16888.70/16891.70/16894/16995/17006—003/17140/17298/17354.05/17387.15.

 (Bold and underlined figures are most important)

It strongly bounced back today after 2 days of down correction and closed with a gain of 157.95 points. It also moved above its important support points of 16541 & 16490 and did not violated its last support point of 16417(figure will change every day) in 2 days correction which is a good sign, so as long as it holds the above points chances of resuming up move is there. However it is well below its recent top of 16719.45 & 16752.25 on the line & bar chart respectively, therefore to confirm the resumption of up move it has to close above 16719.45 and then move above 16752.25 but the authentic breakout point would be 16793.85 and sustained move above this will help it to get good up momentum. Moving up it will face resistance at 16698---16720---16752.25---16767---16794---16894---16995---17140---16175---17298---17354.05---17387.15. Similarly moving down key support points are at 16541---16490---16417---16382---15991---15986.42.

The overall technical setup looks good as of now, furthermore some important technical indicators are positive on the daily chart and it is also making higher top & bottom on the line and the bar chart, so till it holds it recent bottom of 16483.85 & 16438.75 on the line & bar chart respectively and other key points on the downside as mentioned in the above paragraph the up move is likely to continue with in between down correction.

In view of the above observation for safe trader’s long trade can be tried if it moves above 16663 and maintains for some time with a stop loss of 16600, it is suggested to avoid buy on decline for the day. But aggressive traders can also try long trade on decline near 16483 but not below it with a stop loss of 16410. Although it is in the uptrend but short trade can also be attempted after a reasonable rise or on the price breakdown for intraday corrective gains. Sell on the rise near or within the range of 16750---16800 with a  stop loss of 16860 or sell if it moves below 16483 with a short stop loss of 16550.The short term bias is positive but medium and long term bias is still in danger as of now.

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 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. 

m for strategic guidance to enter and exit trade.

Thanks 

Narendra Kumar Surana

suranank@gmail.com

Mobile—8240951127/9831313654.

 

 

 

TECHNICAL VIEW ON CNX-BANK NIFTY FOR--28.7.2022

 

 CNX-BANK NIFTY

Open—36370.55---High—36808.30---Low—36248.60---Close—36783.75 on 27.7.2022.

Support36718.80/36651.85/36497.35/36375.35/36332/36083.70/35985.25/35926/35810.90/35762/35585.20/35543.10/35511/35481.7035327.90/35081/35016.30/34817.50/34650.95/34528/34327/34287/34233/34018.85/33908.95/33273.95/33080.45/33001/32842.30/32652.15/32415.25/32290.55/32155.35/32115.05/31906.55. 

Resistance36876.35/36993/37238/37471/37581.05/37708.75/37988.60/38112.75/38377.35/38426.65/38765.55/38855.55/39117.15/39197/39424.85/40160.20/41367.25/41829.60.

(Bold and underlined figures are most important).

It strongly bounced back today after 2 days of down correction and closed with a gain of 375.25 points. It decisively moved above its important points of 36410 and most importantly it closed above its recent top of 36738.95 on the line chart which is an extremely positive sign and indicate that the correction may be over and today’s rise was a signal of resumption of the up move again but it may pick up strong up momentum once it moves above 37260 and sustain. Moving up it will face resistance at 36824—36859---36993---37011---37260---37471---37708.75---37971---38134, please note that if it moves above 36993 and sustain on the closing basis then it will open up the upside range of 38134 off course with resistance at different points on the way. Similarly moving down key support points will be at 36570---36410---35897---35762---35585---35481---35137. 

The overall technical setup looks good as of now, furthermore some important technical indicators are positive on the daily and few on the weekly chart also and it is making higher top & bottom on the line and the bar chart, so till it holds it recent bottom of 36408.50 & 36248.60 on the line & bar chart respectively and other key points on the downside as mentioned in the above paragraph the up move is likely to continue with in between down correction.

In view of the above observation long trade can only be tried if it moves above 36824 and maintain  for some time with a stop loss of 36700 or can try buy on decline at appropriate points or near 36410 but not below it with a stop loss of 36220 . Although it is in the uptrend but short trade can also be attempted after a reasonable rise or on the price breakdown for intraday corrective gains. Sell on the rise near or within the range of 37260---37340 with a stop loss of 37430 or sell if it moves below 36408 with a stop loss of 36550. The short term bias is positive but medium and long term bias is improving but still not out of woods. So be watchful.

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 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--27.7.2022

 

CNX-BANK NIFTY

Open—36688.55---High—36695.75---Low—36334.10---Close—36408.50 on 26.7.2022.

Support36375.35/36332/36083.70/35985.25/35926/35810.90/35762/35585.20/35543.10/35511/35481.7035327.90/35081/35016.30/34817.50/34650.95/34528/34327/34287/34233/34018.85/33908.95/33273.95/33080.45/33001/32842.30/32652.15/32415.25/32290.55/32155.35/32115.05/31906.55.

 

Resistance36497.35/36651.85/36718.80/36876.35/36993/37238/37471/37581.05/37708.75/37988.60/38134.

(Bold and underlined figures are most important).

The correction continued for the 2^nd day and it deepened today and closed with a loss of 317.90 points. Please note that it closed below its important support point of 36410 so it has slipped into very short correction mode which is concerning and break below 35897 may weaken it further but to severely threaten the on-going up rally it has break below its important and critical range of 35762---35585---35481 and finally sustained break below 35137(figure changes every day) could signal the end of the rally, looking at the technical setup now, chances of breaking so many important  support points moving downward looks slim at this point of time. But to resume the up move again it has to close above 36740 first and then to move above 36993 and 37250 to pick up strong up momentum. Moving up it will face resistance at 36740---36410---36824---36993---37250---37471---37708.75---37971---38134. Similarly moving down key support points will be at 36266---35897---35762---35585---35481---35137. 

The overall technical setup looks good as of now, furthermore some important technical indicators are positive on the daily chart and despite the correction for the last 2 days it has not violated any bottom on the line and the bar chart so far, so till it holds it recent bottom and other key points on the downside as mentioned in the above paragraph the up move is likely to continue with in between down correction. Since it is in correction mode therefore be alert in the long trade if it stays below 36410 and moves below 35897 and sustain on the closing basis.

In view of the above observation for safe trader’s long trade can only be tried if it closes above 36740 and suggested to avoid buying on decline. But aggressive traders can try long trade if it moves above 36660 and maintain for some time with a stop loss of 36480 or can buy on decline at appropriate points or near 35897 but not below it with a stop loss of 35700. Although it is in the uptrend but in correction mode now therefore short trade can also be attempted after a reasonable rise or on the price breakdown for intraday corrective gains. Sell on the rise near or within the range of 36700---36750 with a short stop loss of 36850 or sell if it stays below 36410 with a stop loss of 36550. The short term bias is positive but medium and long term bias is still in danger as of now.

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 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.