CNXFINANCE Volatility is expected as per the outcome of the US Mid Term election outcome, however, Index is overbought and cool down is expected and Index has support in 25000 - 24900 range which is expected to be respected in cool down. On the upside, Index has strong resistance in the 25550 - 25650 range and further upside momentum is only expected if Index breaks and sustains above this resistance.
The upward movement may lead the Index to 25600 - 25650 resistance range and if the index crosses and sustains above this level then may reach near 25900 - 25950 range.
On the contrary, The downward moment may drag the to 25100 – 25050 support range and if this support too is broken then index may tank near 24800 – 24750 range.
Trade closed: target reached
Open flat with low near 25235 and made high near 25600 with close near 25580.
Disclaimer: Above discussion is not a Buy or Sell recommendation. This is only for educational purpose.
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Disclaimer: Above discussion is not a Buy or Sell recommendation. This is only for educational purpose.
Request for follow on X @rkmaurya_ra
Survey: Help us shape better advisory & learning services forms.gle/KdZGVk727dX4Ummc6
Request for follow on X @rkmaurya_ra
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.