BSE- SENSEX---Technical View---23-2-2015

.BSE- Sensex closed at 29231.41 on 20-2-2015

SUPPORT: - 29182.95 / 19143.63 / 19083.40 / 28822.37 / 28731 / 28469 / 28406 / 28064.49 / 28044 / 27851 / 27739 / 27499.42 / 27485.77 / 27203.25 / 27091 / 26776.12 / 26469.42.

RESISTANCE: - 29278 / 29522.86 / 29844.15 / 30345.

 (Figures in bold are important)

Sensex moved in a 439 point range during the week ended on 20-2-2015, it witnessed huge volatility and finally closed the week at 29231.41. Technically it is looking ok now and the range for the coming week starting from 23-2-2015 is between 29050--- 29550 and break on either side will decide direction of the coming week. It is suggested to try long call only if it moves above 29350 on 23-2-2015 and maintains otherwise not, instead Short call can be tried below 29140 with a stop loss of above 29190.,I would advice not to initiate fresh long trade till Union Budget ,in fact reduce your long trade exposure to a reasonable extent  so that you combat the expected volatility of either side after the budget in a better way. However  the present volatility provides both long and short call opportunity so aggressive intra-day trader can try both calls depending on the price movement.

 Going up it will face resistance at 29350 & 29550 level and moving down it will have support at 29050 / 28822.37 & 28731.

Kindly note that profit should also be booked in trade from time to time at the appropriate points so that you can take advantage of the market swings.

REMARK:- Long term up trend is still intact. It is suggested to avoid fresh long trade till budget but aggressive trader can try both long and short call as suggested above.

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---23-2-2015

NIFTY---CNX BANK INDEX----BSE SENSEX---Technical View For---19-2-2015

NIFTY CLOSED AT 8869.10 ON 18-2-2015

SUPPORT: - 8841 / 8822.10 / 8808.90 / 8802.50 / 8795 / 8733 / 8671 / 8626.95 / 8593 / 8535.35 / 8470 / 8445.6 / 8364 / 8282.70 / 8272.80 / 8236 / 8180 / 8160 / 8147.95 / 8065.45 / 7961.35.

 RESISTANCE: - 8873 / 8996.60 / 9040 / 9065 / 9338.

Nifty crossed 76.40% retracement level point intra-day today which was at 8872.44 but closed the day a shade lower then that at 8869.10. Technically it is showing good strength but it seem that here it is looking bit heavy and today was the 6^th straight day of rise also so it may encounter a small correction here before it moves up again or it may continue the up run for few days more before correction happens, I would therefore suggest to take a cautious approach and try fresh long call on 19-2-2015 only if it maintains above today’s high of 8894.30,therefore I would still suggest to book profit below 8894.30 mark on existing long trade and reduce your long trade exposure to a reasonable  extent before the Union Budget so that you can handle the expected volatility after the budget in a better way. The range for it is now between 8900—8800, so long trade can be tried above 8894.30 on 19-2-2015 with a stop loss of below 8850 or near 8810 with a stop loss of below 8780 similarly if it fails to cross 8894.30 mark and  consistently trades below it then aggressive intra-day trader can try short call also with a stop loss of above 8915. Please note that long call should be avoided below 8800 for sure.

CNX-Bank Index closed at 19296.50. on 18-2-2015

SUPPORT: - 19166 /18923.60 / 18736.65 / 18728.20 /18428 / 18226 / 18211.50 / 18183 / 17890 / 17502.45.

RESISTANCE: - 19445 / 19568 / 19778.95 / 19844 / 19884 / 19992 / 20275 / 20610 / 20907.55. 

Index is not exhibiting the strength in fact it is looking weak on the technical chart in comparison with Nifty & Bse Sensex, furthermore it has tremendous hurdles in the range of 19500---19884. I would therefore suggest to exit long trade now and on the rise too and try it only if it moves above 19550 and stays or near its critical support level of 18923 & 18728 with a stop loss of below 18850 & 18780 respectively but note that below 18728 fresh long call should be completely avoided. Aggressive intra- day trader can try short call below 19160 with a stop loss of above 19240 for a target of 18950 on 19-2-2015.

BSE- Sensex  closed at 29320.26 on 18-2-2015

SUPPORT: - 29278 / 29183 / 29160 / 29144 / 28822.37 / 28731 / 28469 / 28406 / 28064.49 / 28044 / 27851 / 27739 / 27499.42 / 27485.77 / 27203.25 / 27091 / 26776.12 / 26469.42.

RESISTANCE: - 29420 / 29844.16.

Sensex is moving up in rhythm and it has almost hit the 76.40% retracement mark today which was  at 29420 furthermore today was the 6^th straight  day of rise also so it may encounter a small correction here before it moves up again or may continue the up run for few more days before correction happens, I would therefore suggest to take cautious approach and try fresh long call on 19-2-2015 only if it maintains above  29420,therefore I would still suggest to book profit below 29420 mark on existing long trade and reduce your long trade exposure to a reasonable  extent before the Union Budget so that you can handle the expected volatility after the budget in a better way. The range for it is now between 28822---29420, so long trade can be tried above 29420 on 19-2-2015 with a stop loss of below 29380, similarly if it fails to cross 29420 mark and consistently trades below it then aggressive intra-day trader can try short call also with a stop loss of above 29450.

Kindly note that profit should also be booked in trade from time to time at the appropriate points so that you can take advantage of the market swings. Use support and resistance levels for entry, exit and trailing stop losses.

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---18-2-2015

NIFTY CLOSED AT 8809.35 ON 16-2-2015

SUPPORT: -8808.90 / 8802.50 / 8795 / 8733 / 8671 / 8626.95 / 8593 / 8535.35 / 8470 / 8445.6 / 8364 / 8282.70 / 8272.80 / 8236 / 8180 / 8160 / 8147.95 / 8065.45 / 7961.35.

 RESISTANCE: - 8822.10 / 8841 / 8873 / 8996.60 / 9040 / 9065 / 9338.

 (Figures in bold are important)

Nifty opened with a up gap at 8831.40 and made a low of 8793.40 and in this process it has filled the gap also which is good, thereafter it moved up and made a high of 8870.10, crossing the multiple top range of 8841 and almost touching the 76.40% retracement level which was at 8873 and finally closed at 8809.35. Technically it is looking good but  the noticeable thing today was that, it crossed the multiple top range of 8841 and it had almost hit the aforesaid retracement level also but could not sustain at higher level and it closed near the low of the day  which is creating a question mark that this on-going up rally may either take a breather or get exhausted here until and unless  it moves above 8873 mark and stays, therefore I would suggest to book at least part profit here and on the rise too in existing long trade  and take fresh long call only if it moves above 8873 and stays because then it can possibly surpass its previous high of 8996.60 in coming days. Please note that fresh long call should be avoided below 8800 and the authentic stop loss for positional long call would be below 8710 as of now (it keeps on changing with price movement) but It is advisable to exit long call if it consistently starts trading below 8780 on 18-2-2015. The critical support for nifty  exist at 8626.95 which may please note.

 Going up it will face resistance at 8873 & 8996.60 and moving down it will have support at 8780 / 8700 / 8658 & 8626.95. 

Kindly note that profit should also be booked in trade from time to time at the appropriate points so that you can take advantage of the market swings.

REMARK:- Long term up trend is still intact. It is suggested to book part profit on existing long trade here and on the rise too and take fresh long call if it moves above 8873 and stays and exit long trade below 8780 on 18-2-2015.

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.

CNX-BANK INDEX---Technical View For---18-2-2015

CNX-Bank Index closed at 19189.95 on 16-2-2015

SUPPORT: - 19166 /18923.60 / 18736.65 / 18728.20 /18428 / 18226 / 18211.50 / 18183 / 17890 / 17502.45.

RESISTANCE: - 19445 / 19568 / 19778.95 / 19844 / 19884 / 19992 / 20275 / 20610 / 20907.55. 

 (Figures in bold are important)

Index opened with a up gap at 19518.85 and made a high of 19532.70 and thereafter made a low of 19127.15 while making low it has filled the gap also and finally closed at 19189.95 about 180 points lower than its previous close, whereas Nifty & BSE-Sensex have closed marginally up today. Please note that it is not exhibiting the same strength technically at all as Nifty & BSE- Sensex is showing if fact it is showing weakness, furthermore going up it will face tremendous hurdles in the range of 19500---19884.I would therefore suggest to exit long trade now and try it only if it moves above 19575 and stays or near its critical support level of 18923 & 18728 with a stop loss of below 18850 & 18780 respectively but note that below 18728 fresh long call should be completely avoided. Aggressive intra- day trader can try short call below 19160 with a stop loss of above 19240 on 18-2-2015.

Kindly note that profit should also be booked in trade from time to time at the appropriate points so that you can take advantage of the market swings.

REMARK:- Long term up trend is still intact. I would advice to exit long trade now and try it only at suitable level as suggested above. Short call can be tried on 18-2-2015 as suggested above.

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----18-2-2015

BSE- Sensex closed at 29135.88 on 16-2-2015

SUPPORT: - 28822.37 / 28731 / 28469 / 28406 / 28064.49 / 28044 / 27851 / 27739 / 27499.42 / 27485.77 / 27203.25 / 27091 / 26776.12 / 26469.42.

RESISTANCE: - 29144 / 29160 / 29183 / 29278 / 29420 / 29844.15 / 30315.

 (Figures in bold are important)

Sensex opened with a small up gap at 29170.77 and made a low of 29083 and in this process it has filled the gap also which is good and then it made a high of 29325.35, crossing the multiple top range of 29278 and  retracing more than 70% of the recent fall and finally closed at 29135.88 Technically it is looking good but  the noticeable thing today was that, it crossed the multiple top range of 29278 and retraced more than 70% of the recent fall  but could not sustain at higher level and closed not very far away from the low of the day  which is creating a question mark that this on-going up rally may either take a breather or get exhausted here until and unless  it moves above 29420 mark and stays, therefore I would suggest to book at least part profit here and on the rise too in existing long trade  and take fresh long call only if it moves above 29420 and stays because then it can possibly surpass its previous high of 29844.16 in coming days. Please note that it has critical support at 28822.37 so fresh long call should be avoided below this for sure and the authentic stop loss for positional long call is also below this mark.  It is advisable to exit long trade if it consistently starts trading below 28920 on 18-2-2015.

Going up it will face resistance at 29183 / 29280 & 29420 level and moving down it will have support at 28822.37 & 28731.

Kindly note that profit should also be booked in trade from time to time at the appropriate points so that you can take advantage of the market swings.

REMARK:- Long term up trend is still intact. It is suggested to book part profit on existing long trade here and on the rise too and take fresh long call if it moves above 29420 and stays.

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-18-2-2015

NIFTY--Technical View---16-2-2015

NIFTY CLOSED AT 8805.50 ON 13-2-2015

SUPPORT: - 8795 / 8733 / 8671 / 8626.95 / 8593 / 8535.35 / 8470 / 8445.6 / 8364 / 8282.70 / 8272.80 / 8236 / 8180 / 8160 / 8147.95 / 8065.45 / 7961.35.

 RESISTANCE: - 8808.90 / 8822.10 / 8841 / 8873 / 8996.60 / 9040 / 9065 / 9338.

Range for the week ended 13-2-2015:-8470.50---8822.10

(Figures in bold are important)

Nifty had a good run during the week under review and closed the weekend  near the high at 8805.50 .It is showing good strength on the technical chart therefore fresh long call can be initiated above 8809 & 8822.10 with a stop loss of below 8780 .I would like to mention here that it can face stiff resistance  at 8841(multiple top range) and then at 8873 which is 76.40% retracement point of the total fall from the top of 8996.60 and bottom of 8470.50 and if it cross this mark of 8873 and stays then it can possibly surpass its previous  high of 8996.60 in coming days, chances of which are looking ok as of now. Please note that fresh call should be avoided below 8800 and the authentic stop loss for positional long call would be below 8710 as of now (it keeps on changing with price movement).The critical support for it exist at 8626.95 which may please note.

Going up it will face resistance at 8841/8873 & 8996.60 and moving down it will have support at 8795 / 8700 / 8658 & 8626.95. 

Kindly note that profit should also be booked in trade from time to time at the appropriate points so that you can take advantage of the market swings.

REMARK:- Long term up trend is still intact. The pull back rally is on therefore long call can be tried as suggested above.

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--16-2-2015

CNX-Bank Index closed at 19369.70 on 13-2-2015

SUPPORT: - 19166 /18923.60 / 18736.65 / 18728.20 /18428 / 18226 / 18211.50 / 18183 / 17890 / 17502.45.

RESISTANCE: - 19445 / 19568 / 19778.95 / 19844 / 19884 / 19992 / 20275 / 20610 / 20907.55. 

Range for the week ended 13-2-2015:-18226.90---19441

(Figures in bold are important)

Index had a good run during the week under review and closed the weekend with good gain at 19369.70 .It is showing strength on the technical chart but it will gather real momentum if it moves above 19575 on 16-2-2015 and stays, however fresh long call can be initiated above 19445 with a stop loss of below 19340 .I would like to mention here that going up it can face  resistance  at 19575 / 19780 / 19884 / 20275 &20610 and if it manages to cross 20275 mark  and stays then it can possibly surpass the previous all time high of 20907.55 in coming days, chances of which are looking 50:50 as of now because its retracement speed is much slower in comparison with Nifty & BSE-Sensex . Please note that the authentic stop loss for positional long call would be below 19220 as of now (it keeps on changing with price movement). Its critical support levels are at 18923.60 / 18736.65 & 18728.20 below these points long call should be completely avoided.

Kindly note that profit should also be booked in trade from time to time at the appropriate points so that you can take advantage of the market swings.

REMARK:- Long term up trend is still intact. The pull back rally is on therefore long call can be tried as suggested above.

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---16-2-2015

BSE- Sensex closed at 29094.93 on 13-2-2015

SUPPORT: - 28822.37 / 28731 / 28469 / 28406 / 28064.49 / 28044 / 27851 / 27739 / 27499.42 / 27485.77 / 27203.25 / 27091 / 26776.12 / 26469.42.

RESISTANCE: - 29144 / 29160 / 29183 / 29278 / 29420 / 29844.15 / 30315.

Range for the week ended 13-2-2015:-28044.49---29154.67

 (Figures in bold are important)

Sensex had a good run during the week under review and closed the weekend with good gain at 29094.93 .It is showing strength on the technical chart but it will gather real momentum if it moves above 29278 and stays, however fresh long call can be initiated above 29154.67 with a stop loss of below 29080 . I would like to mention here that it can face resistance at 29278(which is a short of multiple top range) and then at 29420 which is 76.40% retracement point of the total fall from the top of 29844.16 and bottom of 28044.49 however if it cross this mark of 29420 and stays then it can possibly surpass the previous high of 29844.16 in coming days, chances of which are looking o.k as of now. Please note that it has critical support at 28822.37 so fresh long call should be avoided below this for sure and the authentic stop loss for positional long call is also below this mark .

Going up it will face resistance at 29183 / 29280 & 29420 level and moving down it will have support at 28822.37 & 28731.

Kindly note that profit should also be booked in trade from time to time at the appropriate points so that you can take advantage of the market swings.

REMARK:- Long term up trend is still intact. The pull back rally is on therefore long call can be tried as suggested above.  

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--16-2-2015

Nifty--Technical View--13-2-2015

NIFTY CLOSED AT 8711.55 ON 12-2-2015

SUPPORT: - 8662 / 8626.95 / 8535.35 / 8445.6 / 8350 / 8282.70 / 8272.80 / 8205 / 8180 / 8160 / 8147.95 / 8065.45 / 7961.35.

 RESISTANCE: - 8733 / 8796 / 8802.50 / 8808.90 / 8841 / 8996.60 / 9039 / 9061 / 9704.

(Figures in bold are important)

Nifty opened with a up gap at 8676.95 and made a low of 8599.25 and while making low it filled the gap also it moved in a range for quite some-time and thereafter shot up and made a high of 8732.55 before closing the day at 8711.55. It held the critical level of 8626.95 pretty well and closed way above it, which shows strength therefore this rally can extend to 8734 / 8809 & 8873 before it get exhausted, here please note that if it manages to move above 8720 and stay then it will get good strength and finally if it moves above 8809 mark and stay then it will resume the real up momentum again. Therefore it is suggested to hold the existing long position with a stop loss of below 8620 and fresh long position can be added if it maintains above 7720 with a stop loss of below 8640. Please note that below 8626.95 long  call should be completely avoided.

Going up it will face resistance at 8733 / 8796 / 8809 & 8841 and moving down it will have support at 8672 / 8626.95 / 8584 / 8526 / 8445.60 / 8364.75 / 8272 / 8220. 

Kindly note that profit should also be booked in trade from time to time at the appropriate points so that you can take advantage of the market swings.

REMARK:- Long term up trend is still intact. It seems that the pull back rally is on therefore long call can be tried as suggested above.

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---13-2-2015

CNX-Bank Index closed at 19128.60 on 12-2-2015

SUPPORT: - 18923.60 / 18736.65 / 18728.20 / 18479 / 18428 / 18300 / 18211.50 / 18183 / 17890 / 17502.45.

RESISTANCE: - 19166 / 19445 / 19779 / 19844 / 19991.40 / 20610 / 20907.55 / 21097 / 21360.

(Figures in bold are important)

Index opened with a up gap at 19073.45 and made a low of 18739.85 and while making low it filled the gap also, it moved in a range for quite some-time and thereafter shot up and made a high of 19176.80 before closing the day at 19128.60. It held the critical level of 18923.60 pretty well and closed way above it today, which shows strength therefore this rally can extend to these levels 19252 / 19568 / 19779 / 19884 & 20275 before it get exhausted, here please note that if it manages to move above 19550 and stay then it will resume the real up momentum again. Therefore it is suggested to hold the existing long position with a stop loss of below 18923. Aggressive trader can try fresh long call above 19180 with a stop loss of below 19100 on 13-2-2015. Please note that below 18923 long call should be completely avoided.

Going up it will resistance at 19251 / 19570 & 19884 and moving down it will have support at 18923.60/ 18728 / 18403 / 18211 / 17890 & 17502.

Kindly note that profit should also be booked in trade from time to time at the appropriate points so that you can take advantage of the market swings.

REMARK:- Long term up trend is still intact. It seems that the pull back rally is on therefore long call can be tried as suggested above.

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---13-2-2015

BSE- Sensex closed at 28805.10 on 12-2-2015

SUPPORT: - 28731 / 28406 / 28064.49 / 28044 / 27851 / 27739 / 27499.42 / 27485.77 / 27203.25 / 27091 / 26776.12 / 26469.42.

RESISTANCE: - 28822.37 / 29157 / 29183 / 29278 / 29420 / 29844.15.

(Figures in bold are important)

Sensex opened with a up  gap at 28650.25 and made a low of 28406.25 and while making low it filled the gap also and then it moved in a range for quite some-time and thereafter shot up and made a high of 28838.52 before closing the day at 28805.10. It had a positive day today but it still closed just below its critical point of 28822.37 whereas Nifty & CNX Bank Index have closed way above  their critical level today,  seeing today’s move it is expected that hopefully sensex will also follow them too. It is therefore suggested to try long call only if it moves above 28822.37 and stays with a stop loss of below 28625. Please note that it will gather real up momentum if it moves above 29280 and stays.

Going up it will face resistance at  28822.37 / 29183 & 29280 level and moving down it will have support at 28731 / 28406 / 28044 / 27940 / 27751 / 27485.

Kindly note that profit should also be booked in trade from time to time at the appropriate points so that you can take advantage of the market swings.

REMARK:- Long term up trend is still intact. Pull back rally is on but long call should only be tried above 28822.37.

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.