A TECHNICAL VIEW ON CNX--BANK NIFTY FOR—28.2.2022—4.3.2022

 

CNX--BANK NIFTY

Open—35901.70---High—36684.65---Low—35768.20---Close—36430.75 on 25.2.2022.

Support:36651/36375/36151.95/35585.20/35481.70/34991.35/34817.50/34115/34018.45/33908.95.

 

Resistance:36651/36876.35/37140/37232.30/37319.05/37581.05/37708.75/37891.90/38112.75/38377.25/38461.70/38855.55/39197.20/39424.85/40160.20/41367.25/41829.60

(Bold and underlined figures are most important). 

As you are already aware that it was in a corrective mode and still it is in (see my last post) and it reacted sharply on 24.2.2022 because of Russia and Ukraine war news breaking all the critical points on the downside but it bounced back the next day and managed to close above its important & critical point of 35866(figure will change every day + or- 5-7 points). Please note that the long term uptrend is already threatened but if it moves and sustained below 35866 on the closing basis then long term uptrend will be in real danger. Furthermore moving down its last critical support points could be at 35866---35761.25---35585.20---35481.70, break below 35866 will further weaken it and sustained break below 35761.25 on the closing basis will push it into long term correction mode which could last few weeks or months and sustained break below 35481.70 will accelerate the fall. Therefore the range of 35866---35481 could be considered as important or value range for now. Similarly moving up its critical resistance points would be at 36685---37002---37208---37600---37731---37924---38379—38462---38538---38846---39424---39486---40267, please note that as long as it holds 35866 on the closing basis then the chances are that it could give a reasonable to decent pullback up move but please keep in mind that pullback up move can fizzle out at any of the above mentioned points also but if it moves and sustain above 38000(figure will change every day) then possibly it would show some strength for the up momentum to continue, else down move will continue with in between short relief rallies. It is important to mention here that even if it moves above 38000 it will encounter very stiff resistance in the range of 38100---40300(figure will every day) so up journey looks tough at this point of time   

It is already into medium term corrective mode now and some important technical indicators are also weak on the daily and weekly chart which indicates that fall further looks imminent from here, if price do not improve sharply and move above at least some of its critical and important points. However as long as it holds the range of 35866---35481 the hope of bouncing back from this range would always be there. But the overall technical setup is weak, therefore further fall cannot be ruled out as of now.  

In view of the above observation for safe traders it is suggested to avoid long trade completely for now, however aggressive traders can try long trade on decline near or within the range of 35866---35481 with a stop loss of 35200 for a possible pullback up move but please note that pullback rallies are treacherous in nature and could fizzle out abruptly also, so be alert and careful in the long trade, it is suggested to avoid long trade in corrective mode. As of now it is suggested to adopt sell on the rise strategy or sell on the price breakdown till it gives visible indication of correction completion.

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-28.2.2022—4.3.2022

 

CNX-NIFTY

 Open—16515.65--High—16748.80—Low—16478.30---Close-16658.40 on 25.2.2022.

Support:16565.60/16410/16376.75/16349.95/16203.25/16162.55/15962.25—901/15635.95--513.           

Resistance: -16701.65/16782.40/16809.65/16836.80/16891.70/17043.65/17216.10/17326/17354.05/17387.15/17452.90/17490.60/17613.15/17639.50/17794.45.

 (Bold and underlined figures are most important)

As you are already aware that it was in a corrective mode and still it is in (see my last post) and it reacted sharply on 24.2.2022 because of Russia and Ukraine war news breaking all the critical points on the downside but it bounced back the next day and managed to close above its important & critical point of 16610(figure will change every day + or- 2-3 points). Please note that the long term uptrend is already threatened but if it moves and sustained below 16610 on the closing basis then long term uptrend will be in real danger. Furthermore moving down its last critical support points could be at 16507---16410---16203.25---15986.42, break below 16507 will further weaken it and sustained break below 15986.42 on the closing basis will push it into long term correction mode which could last few weeks or months. Therefore the range of 16600—15986 could be considered as important or value range for now. Similarly moving up its critical resistance points would be at 16770---16847---17000---17120---17187---17388---17404---17687---18068---18124, please note that if it moves above 16770 and sustain on the closing basis then chances are that it could give a reasonable to decent pullback up move but please keep in mind that pullback up move can fizzle out at any of the above mentioned points also but if it moves and sustain above 17388 & 17491 then it would show some strength for the up momentum to continue, else down move will continue with in between short relief rallies.   

It is already into medium term corrective mode now and some important technical indicators are also weak on the daily and weekly chart which indicates that fall further looks imminent from here ,if price do not improve sharply and move above at least some of its critical and important points. However as long as it holds the range of 16610—15986 the hope of bouncing back from this range would always be there. But the overall technical setup is weak, therefore further fall cannot be ruled out as of now.   

In view of the above observation for safe traders it is suggested to avoid long trade completely for now, however aggressive traders can try long trade if it holds 16610 for some time with a stop loss of 16500 for a possible pullback up move but please note that pullback rallies are treacherous in nature and could fizzle out abruptly also, so be alert and careful in the long trade. As of now it is suggested to adopt sell on the rise strategy or sell on the price breakdown till it gives visible indication of correction completion.

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 UPDATE ON DOW JONES INDUSTRIAL AVERAGE –20.2.2022

 

 DOW JONES INDUSTRIAL AVERAGE

Open—34248.32--High—34422.82—Low—33977.43—Close—34079.12 on 18.2.2022.

Support:34014.41/33785/33741/33613/33473/33271.93/33155.71/32074

Resistance:34145/34257/34307/34454/34692/34850/35048/35092/35511/35631/35678/35824/36190/36317/36514/36562/36679/36952.53.

(Bold and underlined figures are most important)

Its overall technical setup is very weak at this point of time and it is into medium term corrective mode and it is below its important critical points and also below its long term  moving averages   on the daily chart, therefore its long term uptrend is in potential danger now, which is concerning. Please note that to keep the hope alive for the up move to regain foothold it has to move above 34500(figure may change upward or downward every day) and sustain on the closing basis and it may pick up some up momentum only if it moves and sustain above 35500(figure may change upward or downward every day) and may gain speed if it moves above 35824.28 and sustain on the closing basis, else downside will continue with in between short relief rallies. It is important to mention here that break below 32530.25 will push it into long term correction mode and in a way will confirm the end of the long term uptrend. Last but not the least break below 29562 will push it into bear market territory which may be kept in mind.

Its important technical indicators are very weak on the daily and weekly chart, which indicates that it could fall further from here if the price does not improve fast. Furthermore if down move continues weakness will spill over to monthly chart also, which could be devastating.  Moving down the critical supports point could be at 34014.41---33741.78---33613.03---33473.80---33271.93---33155.71, it could bounce back from any of these points and most importantly as long as it hold 34051.76(figure will be revised downward if it breaks the recent low of 33155.71) on the closing basis chance of up move is there. The possible up move would be a pullback rally only and may not last long till it moves above its critical points as mentioned above. So be alert and cautious if one has the long position.

REMARKS: - Long term uptrend is in real danger at present and it is already into medium term correction mode, therefore it is suggested to avoid long trade till correction completion signs emerges.

NOTE: - It is a technical assessment of the indices as of now, the technical interpretation changes with the price movement and time; therefore it needs periodic updating, which may please be noted.

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—21.2.2022

 

CNX--BANK NIFTY

Open—37344.55---High—37817.55---Low—37304.45---Close—37599.15 on 18.2.2022.

Support:37581.05/37319.05/37232.20/37140/36876.35/36651/36375/36151.95/35585.20/35481.70/34817.50/34115/34018.45/33908.95. 

Resistance:37708.75/37891.90/38112.75/38377.25/38461.70/38855.55/39197.20/39424.85/40160.20/41367.25/41829.60

(Bold and underlined figures are most important). 

After making an all-time high of 41829.45 on 25.10.2021 it corrected sharply and made bottom at 34018.45 on 20.12.2021 and then it bounced back but could not surpass the previous high. It is into corrective mode now but long term uptrend is intact as of now but will face threat below 37551(figure may change). Since it is in corrective mode further downside is possible from here and moving down it will find good support in the range of 37551---35839---35585.20---35481.70, it could bounce back from this range, but sustained break below 35839(figure can change) will potentially threaten the long term uptrend and break below 35585.20 & 35481.70 may accelerate the fall and will get into the long term corrective mode which may please be noted. Therefore the above range could be considered an important range.

It is into corrective mode now and some important technical indicators are weak on the daily chart and some on the weekly chart too which indicates that it could fall further in coming days if the price do not improve fast. Moving down the critical supports point could be 37551---37306---36876.36---36651.85---36525---36375---36151---35830---35585.20---35481.70, it could bounce back from any of these points and  I once again reiterate that sustained break below 35585.20 & 35481.70 will accelerate the fall.  It is important to mention here that it is looking relatively better then nifty on the technical chart as of now. Kindly note that it may gain some strength for the up move if it closes above 38462 and it may pick up smooth up momentum only if it closes above 39425 and sustain.

In view of the above observation for safe traders it is suggested to try long trade once it closes above 38462, however aggressive traders can try long trade if it maintains above 37600 for some time with a stop loss of 37480 and can also try buy on decline near the above mentioned critical points with strict stop losses because it is in a corrective mode and up rally in a corrective mode could fizzle out abruptly also, so be alert and careful in the long trade, but as long as it holds 37306 chances of up move is there as of now. As of now it is suggested to adopt sell on the rise strategy or sell on the price breakdown till it gives visible indication of correction completion.

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---21.2.2022

 

CNX-NIFTY

 Open—17236.05--High—17380.80—Low—17219.20---Close-17276.30 on 18.2.2022.

Support:17216.10/17043.65/16891.70/16836.80/16809.65/16782.40/16701.65/16565.60/16410. 

Resistance: -17326/17354.05/17387.15/17452.90/17490.60/17613.15/17639.50/17794.45.

 (Bold and underlined figures are most important)

After making an all-time high of 18604.45 on 19.10.2021 it corrected sharply and made bottom at 16410.20 on 20.12.2021 and then bounced back but could not surpass the previous high. It is in a corrective mode now; long term uptrend seems intact but threatened below 17388 and if it remains below this mark then it may fall further from here. However moving down it has bed of supports in the range of 17100---16600---16410 and it could bounce back from this range, but sustained break below 16605(figure can change) will potentially threaten the long term uptrend and break below 16410 may accelerate the fall, therefore the above range could be considered a value range.  

It is into corrective mode now and some important technical indicators are also weak on the daily and weekly chart which indicates that it could fall further from here if these indicators do not improve. Moving down the critical supports point could be 17101.95---17043---16928---16809.65---16782---16600---16410, it could bounce back from any of these points and as long as it hold 16928 chance of up move is there but sustained close above 17388 will only keep the hope alive that it can regain smooth up momentum.  

In view of the above observation for safe traders it is suggested to try long trade once it closes above 17388, however aggressive traders can try long trade on decline also at above mentioned critical points with strict stop losses because it is in a corrective mode and rise in a corrective mode could fizzle out abruptly also, so be alert and careful in the long trade. As of now it is suggested to adopt sell on the rise strategy or sell on the price breakdown till it gives visible indication of correction completion.

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---27.12.2021

 

CNX-NIFTY

 Open—17149.50--High—17155.60—Low—16909.60---Close-17003.75 on 24.12.2021.

Support:16891.70/16782.40/16701.85/16565/16410.20/16376.05/16349.45/16162.55/15962.25---15895.75/15635.95/15632.75/15578.55/15513.45/15450.90.                                                           

Resistance: -17055/16782.40/16891.70/17055/17216.10/17254.20/17326.10/17436.50/17452.90/17489.80/17543.25/17600.60/17613.15/ 17639.50/17757.95/17792.95/17798.20/17884.60/17947.65/17968.50/18012.20/18041.95/18112.60/18342.05/18604.50.                                                                                                                

 (Bold and underlined figures are most important)

After the severe fall on 20.12.2021 it staged a pullback rally for the next 3 days and managed to close above the long term uptrend upholding point for a day but on the last day of the current week ending on 24.12.2021 it slipped below it again and closed with a loss of 68.85 points, which indicates weakness. However it is still above its long pullback threshold point of 16928.04 and as long as it stays above it on the closing basis chances of pullback up move is there but it may gather some momentum if it moves above its long term uptrend upholding point 17040(figure will change for the next day) and sustain on the closing basis else chances of resuming down move is greater.

It is into medium term correction mode and moving down from here its first critical and important support range will be between 16950---16777(figure will change for the next day) and the second  range would be between 16410---16200---15986.42(figure may change for the next day), please note that it may stage a bounce back from this range but sustained break below 16200 will put the long term uptrend in real danger and sustained break below 15986.42 will push into long term correction mode and may put an end to the long term uptrend for some time which should be kept in the back of the mind. Please note that to keep the hope of long term uptrend intact or alive it has to maintain above 16200---15986.42(figure may change for the next day) on the closing basis but it will get some strength or chance of getting back some up momentum only if it sustains above 17040(figure will change for the next day) on the closing basis. Please note that it could be the beginning of a bear market and sustained break below 16200 & 15986.42 will be the part confirmation of it and finally sustained break below 14883.56 which is a bear market threshold point will confirm it. Therefore these points should be considered as potential support points.

Similarly moving up from here it will face stiff resistance in the range of 17040---17275---17380---17490---17640(figure may change for the next day), sustained move above 17040 may give some strength to the up move and sustained close above 17380 may help it to pick up some momentum and sustained close above 17640 may reverse the trend. But it seems slightly difficult to cross this range in coming days instead chances of moving down looks much greater at this point of time.

It is important to mention here that pullback rallies are treacherous in nature and can end abruptly, it is therefore suggested that one should be extremely alert and cautious in the long trade initiated for pullback gains.

It is into medium term correction mode it is below its short term moving averages on the daily and weekly chart, it is also below its medium term moving averages on the daily chart, most importantly it is way below some of its long term parameters and below some of its long term moving averages also, so all together these are very weak indication and pointing towards further fall ahead in coming days, provided it remains below its critical points. Please note that few important technical indicators are negative on the  daily and weekly chart which is a very weak indication, therefore further fall from here look inevitable off course with in between short relief rallies and if indicators don’t improve or it does not bounce back above its key price levels in the next few days. The short and medium term trend is weak and the long term uptrend is also in jeopardy now, therefore the overall bias looks weak as of now.

In view of the above, it slipped into medium term correction mode now and knocking on to disturb the long term uptrend, therefore for safe traders long trade should be avoided till clarity on correction completion emerges. However aggressive can try long trade if it moves above 17073 and maintain for some time or on the decline near or within the range of 16950---16777(figure may change) preferably near the lower end of the range but not below 16777. I strongly caution here that long trade in a corrective mode for pullback gains could be a risky affair; therefore one should be extremely cautious and vigilant in the long trade at this point of time. It is still in corrective mode; therefore short trade can be attempted on the rise at appropriate point or can be tried on the price breakdown for taking advantage of the down move 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 preferably near the lower end of the range 16950---16777 but not below 16777 with a stop loss of 16690. It is for the aggressive traders and could be a highly risky trade.

Or

Buy if it moves above 17073 and maintain for some time with a stop loss of 17000. It is for the aggressive traders and could be a highly risky trade.

2. Sell on the rise near or within the range of 17160---17200 with a stop loss of 17250. It could be a risky trade but worth trying for intraday gain.

Or

Sell if it moves below 16950 with a stop loss of 17030. It could be a risky trade but worth trying for intraday gain.

Or

Sell if it does not move above 17073 in first one and half hour of trade with a stop loss of 17110. It could be a 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—27.12.2021

 

CNX--BANK NIFTY

Open—35282.20---High—35327.95---Low—34583.40---Close—34857.05on 24.12.2021.

Support:34817.50/34115/33908/33468.68/33273.95/32613.10/32415.25/32115/31906. 

Resistance: -35327.90/35359.25/35531.35/35810.90/35977.97/36151.95/36525.95/36647/36655.40/36844/36876.35/37140/37232.20/37708.75/37891/38112.75/38377.25/38426/38932.45/39117.15/39292.80/40011.15/40160.20/41367.25/41829.60.

(Bold and underlined figures are most important). 

After the severe fall on 20.12.2021 it staged a pullback up move for the next 3 days and closed with a loss of 334.10 points today, which is weak sign. It is into long term correction mode, it is decisively below last critical support range of 35760---35480---35141(figure may change) and if it remains below 35150 it may put an end to the long term uptrend. Therefore to gain some foothold it has to move above 35150(figure will change for the next day) and sustain on the closing basis else down move will continue. Please note that it seems that it has already gotten into the bear market and sustained break below 33468.68 levels which is a bear market threshold point will confirm it. Therefore moving down now the range of 34063---33468.68---32613---32465 could be considered as good support range but sustained break below 32465 could trigger an accelerated fall.

Similarly moving up from here it will face stiff resistance in the range of 35150---36926(figure may change for the next day), sustained close above 35150 may help it to get some foothold for the up move but it will gain some strength above 36926 only. But looking at the overall technical setup, it seems slightly difficult to cross this range in coming days instead chances of moving down looks much greater at this point of time. However its short and long term pullback threshold point is at 34859.22 & 35861.88(figures may change), so if it moves and sustain above 34859.22  on the closing basis then the chance of a mild pullback up move  is there and sustained close above 35861.88 may give moderate to reasonable pullback up move.

It is important to mention here that pullback rallies are treacherous in nature and can end abruptly, it is therefore suggested that one should be extremely alert and cautious in the long trade initiated for pullback gains. 

It is into medium term correction mode it is below its short term moving averages on the daily and weekly chart, it is also below its medium term moving averages on the daily chart and below some on the weekly chart also and most importantly way below its long term parameters on the daily chart and below some on the weekly chart also and most importantly below all its long term moving averages on the daily chart, all together these are very weak indication and pointing towards further fall ahead in coming days, provided it remains below its critical points. Please note that few important technical indicators are negative on the  daily and weekly chart which is a very weak indication, therefore further fall from here look inevitable off course with in between short relief rallies and if indicators don’t improve or it does not bounce back above its key price levels in the next few days. The short and medium term trend is weak and the long term uptrend is also in jeopardy now, therefore the overall bias looks weak as of now.

In view of the above, it slipped into long term correction mode now and almost on the verge of ending the uptrend for now, therefore for safe trader’s long trade should be avoided till clarity on correction completion emerges. However, aggressive traders can try long trade on decline near or within the range of 34060---33908---33468.68, preferably near the lower end of the range but not below 33468.68.  I strongly caution here that long trade in a corrective mode for pullback gains could be a risky affair; therefore one should be extremely cautious and vigilant in the long trade at this point of time. It is suggested to avoid long trade for now. It is still in corrective mode; therefore short trade can be attempted on the rise at appropriate point or can be tried on the price breakdown for taking advantage of the down move 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 34060—33908---33468, preferably near the lower end of the range with a stop loss of 33800 & 33300. It is for the aggressive traders and could be a highly risky trade.

2. Sell on the rise near or within the range 35325---35450 with a stop loss of 35550. It could be a risky trade but worth trying for intraday gain.

Or

Sell if it maintains below 34850 for some time with a stop loss of 34950. It could be a risky trade but worth trying for intraday gain.

Or

Sell if it moves below 34430 with a stop loss of 34590. 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.