Nifty-Technical Overview For 17-9-14

NIFTY CLOSED AT 7932.90  ON 16-9-14

SUPPORT: -  7855.95 / 7840.95 / 7808.85 / 7700.05 / .

 RESISTANCE:-  7954.35 / 7968.25 / 7990.35 / 8049.85 / 8057.30 /  8070.35 /  8105.50 / 8141.90 /  8180.20 / 8210 / 8294 / 8330.

   (Figures in bold are important)

Nifty opened on a negative note at 8036.60 and made high for the day at 8044.90 and thereafter sharply went down and made a low of 7925.15 before closing the day near the low at 7932.90.Today it has decisively  broken all its short term moving averages, which indicate gross weakness in it ,it has also broken the important level of 7937  and if stays below it for 1-2 days then it is expected to come down to 7850 mark, chances of which are looking reasonably good and break below 7850 can take it to 7790 &7700 level. Since it is below all its short term moving averages, therefore avoid fresh long call till it bounces back at least above its lower band of the DMA range and stays but I would prefer to take long call only if moves above the upper band of the DMA and stays. The range for 17-9-14 is between 8089---7997 (it changes every day) .Kindly note that going up it will face good resistance at 7990.35 /8049.85 / 8070.35 / 8105.50 & 8141.90 .

REMARK:- Long term trend is still up, but correction has set in , therefore I suggest to avoid fresh long trade till it bounces back above its short term DMA upper band and stays. Avoid impulsive trade .

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 is of spot market

Contact me for strategic guidance to enter and exit the trade

CNX-Technical View For-16-9-14

CNX-Bank Index closed at 16167.55 on 15-9-2014

SUPPORT: -16049.25 / 15982.50 / 15973.35 /15891.75 / 15790.25 / 15742.05 / 15740.40 / 15626.90 / 15592.80 / 15503.40 / 15448.90 .

RESISTANCE: - 16208.55 / 16222.55 / 16254.25 / 16309.70 / 16340 / 16428 / 16580—16720.

  (Figures in bold are important)

Index opened on a negative note at 16158.65 and made a high of 16239.70 for the day and then went down and made a low of 16106.05 before closing the day at 16167.55.It is just  above the upper band of the short term DMA and the range is between 16163---15900(it changes every day) for 16-9-14,  therefore one can still  buy  but with extreme caution and get alerted in long trade if it starts trading below 16150 and exit long trade if it closes below 15900 and stays.Since it is very close to the upper band of the short term moving averages I would suggest to wait and watch for 1-2 trading session for initiating fresh long trade.  Please note that it has recently made bottom at 16049.25 therefore  avoid fresh long call below this point for sure. Kindly note that going up it will face good resistance at16222.55 / 16263 &16330.

REMARK:- Long term trend is still up, but since it is very near the upper band of the short term moving averages, therefore I suggest to wait  and watch for 1-2 trading session to take any trading call  . Avoid impulsive trade .

Note: Price stated here is of spot market

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Nifty-Technical Observation For -16-9-14

NIFTY CLOSED AT 8042  ON 15-9-14

SUPPORT: -7990.35 / 7984 / 7968.25 / 7954.35 /7855.95 / 7840.95 / 7808.85 / 7700.05 / .

RESISTANCE:-   8049.85 / 8057.30 / 8070.35/8105.50 / 8141.90 /  8180.20 / 8210 / 8294 / 8330.

   (Figures in bold are important)

Nifty opened on a negative note at 8070.35 and made a high of 8077.30 for the day and thereafter went down and made a low of 8030 before closing the day near the low at 8042.It was below the short term moving average for the last three days and today it has broken the recent bottom of 8049.85 which indicate that  a deeper correction may set in, but generally  in bull market correction don’t last for too long therefore the possible correction completion  points are 8103 / 8056 / 8018 / 7979 / 7937 from where nifty could bounce back. Kindly note that if it breaks the 7937 mark and stays then there could be potential threat of it going down further and sharply too. Since it is below the upper band of the short term DMA range and the range for 16-9-14 is between 8106---8000 therefore I suggest to avoid fresh long call till it bounces back above the short term DMA upper band and stays and for those who are already having long trade can hold on to it now and exit trade if it closes below 8000 and stays. Kindly  note that going up it will face good resistance at 8105.50/ 8141.90 / 8150 & 8183.AVOID FRESH  LONG CALL COMPLETELY BELOW 8057.30  FOR THE ENTIRE WEEK.

REMARK:- Long term trend is still up, today’s move indicate that possibly deeper  correction may set in ,therefore I suggest to avoid fresh long call till it bounces back above the upper band of the short term DMA range and stays. Avoid impulsive trade .

 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 is of spot market

Contact me for strategic guidance to enter and exit the trade

Trading Calls For 15-9-14

NIFTY-Technical Overview For The Week Starting From-15-9-14

NIFTY CLOSED AT 8105.50 ON 12-9-14

Range for the week ended on 12-9-14:- 8180.20--- 8057.30

SUPPORT: - 8105.50 / 8049.85 /7990.35 / 7984 / 7968.25 / 7954.35 /7855.95 / 7840.95 / 7808.85 / 7700.05 / .

 RESISTANCE:-  8141.90 /  8180.20 / 8210 / 8294 / 8330.

  (Figures in bold are important)

Nifty opened the week under review with an up gap at 8132.95 and made a new all time high at 8180.20 and thereafter went down and made a low of 8057.30 before closing the week  at 8105.50. This week’s move was not encouraging and give some indication that nifty may go in for bigger correction in days to come, if it breaks the recent bottom of 8049.75 and stays below it but as of now it is still in momentum, however one should be circumspect in long trade for now. The long term trend is still up but since it is below the upper band of the short term DMA range, therefore I suggest to avoid long trade till it bounce back above it and stays.

TECHNICAL VIEW

ON DAILY CHART:-It is showing some weakness as it has broken the short term trend-line drawn from the bottom of 7540.10 ,furthermore it is also below the upper band of the short term DMA range for last three days and the range for 15-9-14 is between 8110--7979 (it changes every day).Therefore one should avoid fresh long trade till it bounces back above the short term DMA upper band i.e. 8110 and stays but for those who are already having long position can hold on to it and get alerted  if it starts trading below 8054 and exit long trade if it closes below 7979 and stays.

 Please note that it has recently made bottom at 8049.75 therefore I suggest to avoid fresh long call below this point for sure. Kindly note that going up it will face good resistance at 8141.90 & 8180.20.

ON WEEKLY CHART:-  It is ok on the chart . Furthermore it is way above  the upper band of  the short term DMA range which is between 7891--7553(for the next week) starting from-15-9-14.

Kindly note that there has been straight rise in the nifty for last five weeks from 7540.10---8180.20 and since it below the upper band of the short term moving averages on the daily chart and seems  correcting, it may also correct on weekly chart and may give 1 or 2 down week move. So be alert in long trade and avoid fresh long trade completely below 8049.75 for the entire week.

REMARK:- Long term trend is still up, but last week move  indicate that it may go in for bigger down correction ,if it does not bounce back  above the short term averages or break 8049.75 level, so avoid fresh long call till it bounces back above the short term DMA again,  avoid   long call completely below 8049.85 for sure. Avoid impulsive trade .

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 is of spot market

Contact me for strategic guidance to enter and exit the trade

CNX-Bank Index-Technical Overview For The Week Starting From-15-9-14

CNX-Bank Index closed at 16254.15 on 12-9-2014

Range for the week ended 12-9-14 was :-16309.70---16049.25

SUPPORT: -16222.55 / 16208.55 / 15973.35 / 15790.25 / 15742.05 / 15740.40 / 15626.90 / 15592.80 / 15503.40 / 15448.90 .

RESISTANCE: -  16275 / 16309.70 / 16422 / 16660 / 16750 / 17270.

  (Figures in bold are important)

Index opened on a firm note for the week under review and made a new all time high of 16309.70 and thereafter made a low of 16049.25 before closing the week at 16254.15.It is exhibiting better strength then nifty in last 2-3 days. Its recent short bottom is at 16049.25 which is a very useful support but the major bottom is at 15891.75.It seems that it may outperform the nifty in coming days. Therefore one can try long call on dip with an alert point below 16049.25 and exit point below 15891.25.

TECHNICAL VIEW

1.      ON DAILY CHART:- It looks ok on the daily chart and as of now it is buy on dip, although it is above the upper band of short term DMA range of 16156—15850(it changes every day) for 15-9-14 but since it very close to it, therefore  be alert in long trade and avoid fresh long call if it starts trading below 16150 and get out of the long trade if closes below 15850 and stays. It has made recent short bottom at 16049.25 and major bottom at 15891.25 so avoid fresh long call below 16049.25 and exit long call if it closes below 15891.25 and stays. Going up it will face tough resistance at 16364 / 16492 & 16660.

2.      ON WEEKLY CHART:- It is ok on the chart . Furthermore it is way above  the upper band of the short term DMA range which is between 15620--14875(for the next week) starting from-15-9-14.

Kindly note that there has been straight rise in the index from14709.10 to 16309.70 in last five weeks ,therefore it looks vulnerable for a correction on the weekly basis however there is no visible sign of it as yet even then be alert in long trade and avoid fresh long trade completely below 16049.25 for the entire week.

 REMARK:- Long term trend is still up, therefore I would suggest  to adopt buy on dip strategy at appropriate level with proper stop loss. Please be alert in long call below 16156 and exit long trade if it closes below 15891.25.

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 is of spot market

Contact me for strategic guidance to enter and exit the trade

CNX-Technical View For-12-9-14

CNX-Bank Index closed at 16204.15 on 11-9-2014

SUPPORT: -16084.20 / 15982.50 / 15973.35 / 15790.25 / 15742.05 / 15740.40 / 15626.90 / 15592.80 / 15503.40 / 15448.90 .

RESISTANCE: - 16208.55 / 16222.55 / 16309.70 / 16340 / 16428 / 16580—16720.

  (Figures in bold are important)

Index opened with a small up gap and made a new all time high of 16309.70 and then made a low of 16166.80 before closing the day at 16204.15.Since it is still  above the short term DMA and the range is between 16123---15783(it changes every day) for 12-9-14,  therefore it is buy on dip market but with extreme caution and one should get alert in long trade if it starts trading below 16123 and exit long trade if it closes below 15783 and stays. Please note that it has recently made bottom at 16053.90 therefore I suggest to avoid fresh long call below this point for sure. Kindly note that going up it will face good resistance at16222.55 / 16263 &16330.

REMARK:- Long term trend is still up, therefore ,I suggest to buy on dip but with caution and  at appropriate level with an adequate stop loss, avoid  fresh long call below 16053.90 for sure. Avoid impulsive trade .

Note: Price stated here is of spot market

Contact me for strategic guidance to enter and exit the trade

Nifty-Technical Obsevation For-12-9-14

NIFTY CLOSED AT 8085.70  ON 11-9-14

SUPPORT: -  8049.85 /7990.35 / 7984 / 7968.25 / 7954.35 /7855.95 / 7840.95 / 7808.85 / 7700.05 / 

 RESISTANCE:- 8086.85 / 8132.95 / 8141.90 /  8180.20 / 8210 / 8294 / 8330.

   (Figures in bold are important)

Nifty opened on a firm note at 8115.15 and made a high for the day at 8127.95 and thereafter it gradually moved down throughout the day and made a low of 8057.30   before closing the day  at 8085.70.It is still below the upper band of short term DMA range for the second day and the range for it is between 8110—7979(it changes every day)for 12-9-14,since the break is not decisive and it is not far below the averages therefore it is expected  to bounce back above the averages in a day or two but if it fails to do so and break the recent bottom of 8049.75 then it can trigger bigger down move ,since it has broken the upper band of short term DMA ie.8110 therefore I would suggest to avoid fresh long call till it bounces back above it  and stays but for those who are already having long position can hold on to it and get alerted  if it starts trading below 8040 and exit long trade if it closes below 7979 and stays. Please note that it has recently made bottom at 8049.75 therefore I suggest to avoid fresh long call below this point for sure. Kindly note that going up it will face good resistance at 8141.90 & 8180.20.

REMARK:- Long term trend is still up, but last two days move indicate that it may trigger bigger down correction again if it does not bounce back  above the averages or break 8049.75, so avoid fresh long call till it bounces back above the short term DMA again,  avoid   long call below 8049.85 for sure. Avoid impulsive trade .

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 is of spot market

Contact me for strategic guidance to enter and exit the trade

$ DOLLAR IS POISED FOR A RISE

                                                     Dollar – Vs –Rupee

Dollar   closed at Rs.60.60  on 9-9-14

SUPPORT :-60.33 / 60.19 /59.90 / 59.57 / 59.52 / 58.95 / 58.69 / 58.25

RESISTANCE:- 60.69(Multiple Top) / 60.88 /61.19 / 61.55 /61.74 / 61.80 / 61.81 / 62.55 / 63.08 / 63.32 / 63.90.

TECHNICAL   OBSERVATION :-

The technical chart is showing strength and it is above all its short term and long term moving averages on the daily chart except for one which is at 60.95, furthermore it is on the verge of giving upside breakout and the break out point is 60.69(it has given the breakout at the time of posting this article).Since it has given breakout a good upside is expected and if it   crosses 60.95 and stays then it can hit the level of 61.74 & 61.81 chances of which are looking very bright. However the level of 61.81 will pose a very stiff resistance and if it crosses this point and stays then a good rise can be expected .The recent bottom is at 60.33 & 60.19 and these points will act as good support .One can take long call on dip .

REMARKS:-The short and medium term trend is up, therefore I suggest to take long call on dip with an adequate stop loss.DO NOT TRADE WITHOUT STOP LOSS.

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Trading Calls For-11-9-14

Nifty-Technical Observation For-11-9-14

NIFTY CLOSED AT 8094.10  ON 10-9-14

SUPPORT: - 8086.85 / 8049.85 /7990.35 / 7968.25 / 7954.35 /7855.95 / 7840.95 / 7808.85 / 7700.05

RESISTANCE:- 8132.95 / 8141.90 /  8180.20 / 8210 / 8294 / 8330.

   (Figures in bold are important)

Nifty opened on a negative note at 8135.55 and almost the open was the high for the day at 8135.75 and thereafter it gradually moved down throughout the day and made a low of 8082.10   before closing the day near the low at 8094.10. Today it has broken the upper band of short term DMA after quite some time and the range for it is between 8115—7960(it changes every day)for 11-9-14,since the break is not decisive it is expected  to bounce back above the averages in a day or two but if it fails to do so then it can trigger bigger down move ,since it has broken the upper band of short term DMA ie.8115 therefore I would suggest to avoid fresh long call till it bounces back above it  and stays but for those who are already having long position can hold on to it and get alerted  if it starts trading below 8040 and exit long trade if it closes below 7960 and stays. Please note that it has recently made bottom at 8049.75 therefore I suggest to avoid fresh long call below this point for sure. Kindly note that going up it will face good resistance at 8141.90 & 8180.20.

REMARK:- Long term trend is still up, but today’s move indicate that it may trigger down correction , so avoid fresh long call till it bounces back above the short term DMA again,  avoid   long call below 8049.85 for sure. Avoid impulsive trade .

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 is of spot market

Contact me for strategic guidance to enter and exit the trade

CNX-Bank Index-Technical Observation For-11-9-14

CNX-Bank Index closed at 16151.75 on 10-9-2014

SUPPORT: -16084.20 / 15982.50 / 15973.35 / 15790.25 / 15742.05 / 15740.40 / 15626.90 / 15592.80 / 15503.40 / 15448.90 .

RESISTANCE: - 16208.55 / 16222.55 / 16290 / 16340 / 16428 / 16580—16720.

  (Figures in bold are important)

Index opened on a positive note at 16173.50 and made a high of 16190.50 and then made a low of 16053.90 before closing the day at 16151.75.Since it is still  above the short term DMA therefore as of now it is buy on dip market but with extreme caution and one should get alert in long trade if it starts trading below 16090 and exit long trade if it closes below 15720 and stays. Please note that it has recently made bottom at 15891.75 therefore I suggest to avoid fresh long call below this point for sure. Kindly note that going up it will face good resistance at16208.55 / 16263 &16330.

REMARK:- Long term trend is still up, therefore ,I suggest to buy on dip but with caution and  at appropriate level with an adequate stop loss, avoid long fresh long call below 15891.75. Avoid impulsive trade .

Note: Price stated here is of spot market

Contact me for strategic guidance to enter and exit the trade

Trading Calls For-10-9-14

SILVER IN LONG TERM BEARISH TREND

SILVER IN $ TERM

SILVER CLOSED AT 18.96  ON 8-9-14.

SUPPORT:-18.61 / 18.17 / 17.73 / 17.19 / 16.55 / 15.61 / 14.65 / 13.49 / 12.43 / 11.72 / 10.32 / 9.17/ 8.40.

RESISTANCE:-19.44 / 19.82 / 19.91 / 20 / 20.40 / 21.79 / 22.18 / 23.09 / 23.44 / 25.12

(Figures in bold letters are very important)

Silver looks highly bearish on the technical chart therefore it is advisable to stay away from investing in it for long term now because it may not even give you normal return which equity can give in at least two years time period , so avoid this asset class for long term investment .However in between up rally could be there so trader can take advantage both ways at appropriate levels. Silver and Gold is identically placed on the chart.

TECHNICAL  OBSERVATION 

It is way below its short term as well as long term moving averages and also making lower tops and bottoms which is showing gross weakness but Since it is very close to its bottom of 18.61 & 18.17 so it may give a technical bounce back from here and going up the range of 19.85—22.18 will pose a very stiff resistance. If it breaks 18.61 & 18.17 and stays then it may go in for deeper fall and may test or break the level of 17.08 & 14.65 ,the  chances of which are looking  very bright in near future. 

REMARKS:-Long term trend is down therefore I would suggest to avoid investment in silver for sure. Traders can take long and short call both at appropriate levels(see support and resistance) with an adequate stop loss. Since the trend is down I would prefer to sell on the rise rather then to take a buy call.

NOTE:-
1.PRICE STATED HERE IS OF SPOT MARKET.
2.RECOMMENDATIONS ARE VALID TILL THE STOP LOSS IS TRIGGERED.
3.IN FAVORABLE TRADE TRAIL YOUR STOP-LOSSES FOR MAXIMUM GAIN AND CAPITAL PROTECTION. 

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GOLD IN LONG TERM BEARISH TREND

     

GOLD IN $ TERMS

Gold closed at $1254.30 on 8-9-14

SUPPORT:-1240 / 1230 / 1204.5 / 1202.30 / 1181.40 / 1179.40 / 1155.60.

RESISTANCE:- 1276 /1279.20 / 1297.60 / 1325.90 / 1331.40 / 1334.90 / 1346.80.

Gold looks hugely bearish on the technical chart therefore it is advisable to stay away from investing in it for long term now because it may not even give you normal return which equity can give in at least two years time period, so avoid this asset class for long term investment .However in between up rally could be there so trader can take advantage both ways at appropriate levels. Gold and Silver is identically placed on the chart. 

TECHNICAL  OBSERVATION  

It is way below its short term as  well as long term moving averages and also making lower tops and bottoms which is showing gross weakness but Since it is very close to its bottom of 1240 & 1230 so it may give a technical bounce back from here and going up the range of 1276—1325 will pose a very stiff resistance. If it breaks 1240 & 1230 and stays then it may go in for deeper fall and may test or break the level of 1179 ,the  chance of which are looking  very bright in near future. .  

REMARKS:-Long term trend is down therefore I would suggest to avoid investment in gold for sure. Traders can take long and short call both at appropriate levels(see support and resistance) with an adequate stop loss. Since the trend is down I would prefer to sell on the rise rather then to take a buy call.

Contact me for strategic guidance to enter and exit the trade

CNX-Bank Index-Technical View For-10-9-14

CNX-Bank Index closed at 16156.75 on 9-9-2014

SUPPORT: -16084.20 / 15982.50 / 15973.35 / 15790.25 / 15742.05 / 15740.40 / 15626.90 / 15592.80 / 15503.40 / 15448.90 .

RESISTANCE: - 16208.55 / 16222.55 / 16290 / 16340 / 16428 / 16580—16720.

  (Figures in bold are important)

Index opened on a negative note at 16171.80 and made a high of 16199.10 and then started slipping down and made a low of 16085.70 before closing the day at 16156.75.Since it is still  above the short term DMA therefore it is buy on dip market but with caution and one should get alert in long trade if it starts trading below 16057 and exit long trade if it closes below 15660 and stays. Please note that it has recently made bottom at 15891.75 therefore I suggest to avoid fresh long call below this point. Kindly note that going up it will face good resistance at16208.55 / 16263 &16330.

REMARK:- Long term trend is still up, therefore ,I suggest to buy on dip but with caution and  at appropriate level with an adequate stop loss, avoid long fresh long call below 15891.75. Avoid impulsive trade .

Note: Price stated here is of spot market

Contact me for strategic guidance to enter and exit the trade

Nifty -Technical View For-10-9-14

NIFTY CLOSED AT 8151.80  ON 9-9-14

SUPPORT: -8150 / 8141.90 / 8132.95 / 8086.85 / 8049.85 /7990.35 / 7968.25 / 7954.35 /7855.95 / 7840.95 / 7808.85 / 7700.05 / .

 RESISTANCE:-  8183 / 8210 / 8294 / 8330.

   (Figures in bold are important)

Nifty opened on a negative note at 8161.90 and made a high of 8174.55 and then started slipping down and made a low of 8126.50 before closing the day at 8151.80.Since it is still reasonably above the short term & long term DMA therefore it is buy on dip market but with caution and one should get alert in long trade if it starts trading below 8040 and exit long trade if it closes below 7930 and stays. Please note that it has recently made bottom at 8049.75 therefore I suggest to avoid fresh long call below this point. Kindly note that going up it will face good resistance at & 8183 / 8210 & 8294

REMARK:- Long term trend is still up, therefore ,I suggest to buy on dip but with caution and  at appropriate level with an adequate stop loss, avoid long fresh long call below 8049.85. Avoid impulsive trade .

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 is of spot market

Contact me for strategic guidance to enter and exit the trade

Trading Calls For-9-9-14

CNX-Technical View For-9-9-14

CNX-Bank Index closed at 16206.70 on 8-9-2014

SUPPORT: -16084.20 / 15982.50 / 15973.35 / 15790.25 / 15742.05 / 15740.40 / 15626.90 / 15592.80 / 15503.40 / 15448.90 .

RESISTANCE: - 16208.55 / 16290 / 16340 / 16428 / 16580—16720.

  (Figures in bold are important)

Index opened on firm note and made a low of 16049.25 for the day and thereafter made new all time high of 16222.55 before closing the day near the high at16206.70. Today’s move  indicate that last three days down move has been completed and it ready for up move again, it recent  bottom is at 15891.75 therefore avoid fresh long call below this point. It is still  buy on dip market but with caution and  one should get alerted in long trade if it starts trading below15891.75  and exit long trade if it closes below 15590 and stays. Kindly note that going up it will face good resistance at 16208.55 / 16263 &16330

REMARK:- Long term trend is still up, therefore,I suggest to buy on dip but with caution and  at appropriate level with an adequate stop loss. Avoid impulsive trade .

Note: Price stated here is of spot market

Contact me for strategic guidance to enter and exit the trade

Nifty-Technical View For-9-9-14

NIFTY CLOSED AT 8173.90  ON 8-9-14

SUPPORT: -8150 / 8141.90 / 8132.95 / 8086.85 / 8049.85 7990.35 / 7968.25 / 7954.35 /7855.95 / 7840.95 / 7808.85 / 7700.05 / .

 RESISTANCE:-  8183 / 8210 / 8294 / 8330.

   (Figures in bold are important)

Nifty opened with a up gap by 10.25 points at 8132.95 and immediately filled up 50% gap and made a low of 8126.20 and  thereafter gradually moved up and made a new all time high of 8180.20 before closing the day near the high at 8173.90.Today’s move indicate that  last two days down move has been completed as nifty  is showing great momentum ,therefore it is still  buy on dip market but with caution and  one should get alerted in long trade if it starts trading below 8020 and exit long trade if it closes below 7900 and stays. Please note that it has recently made bottom at 8049.75 therefore I suggest to avoid fresh long call below this point. Kindly note that going up it will face good resistance at & 8183 / 8210 & 8294

REMARK:- Long term trend is still up, therefore ,I suggest to buy on dip but with caution and  at appropriate level with an adequate stop loss. Avoid impulsive trade .

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 is of spot market

Contact me for strategic guidance to enter and exit the trade