EquityPandit’s Outlook for CNX Energy for the week (November 02, 2015 – November 06, 2015):

CNX ENERGY:

CNX ENERGY index closed the week on negative note losing around 2.2%.

As we have mentioned last week that support for the index lies around the levels of 8100 to 8150 where 1000 Daily SMA and 200 Weekly SMA are positioned. If the index manages to close below this levels then the index can drift to the levels of 8000 from where the index has broken out. During the week the index manages to hit a low of 8040 and close the week around the levels of 8090.

Support for the index lies in the zone of 8000 from where the index has broken out of the consolidation zone. If the index breaks below this levels on closing basis then the index can drift to the levels of 7800.

Resistance for the index lies in the zone of 8200 to 8250 where 100 & 1000 Daily SMA are positioned. If the index manages to close above this levels then the index can move to the levels of 8400 where trend-line and 200 Daily SMA are positioned.

Broad range for the index is seen between 7900 to 7950 on downside to 8250 to 8300 on upside.