EquityPandit’s Outlook for CNX Energy for the week (August 24, 2015 – August 28, 2015):

CNX ENERGY:

CNX ENERGY index closed the week on negative note losing around 5%.

On 20/08/2015, the index broke below the 1000 Daily SMA and 200 Weekly SMA, and close the week virtually at the lowest point.

The index has taken support around the levels of 7900 where 500 Weekly SMA is lying. If in the coming week if the index manages to hold this level we can expect the index to bounce to the levels of 8150 to 8200 from where the index broke down.

Support for the index lies in the zone of 7850 to 7900 where 500 Weekly SMA is positioned.

Resistance for the index is lying in the zone of 8100 to 8200 where 1000 Daily SMA and 200 Weekly SMA are positioned.

Broad range for the index is seen between 7800 to 7850 on downside to 8100 to 8150 on upside.