A IMPORTANT UPDATE ON CNX-BANK NIFTY—3.2.2025

 

CNX-BANK NIFTY

CLOSE ON—1.2.2025—49506.95

The technical setup has improved a bit and technical indicators are also positive on the daily chart, therefore the on-going up move can extend further for a while but this up-move may not last long because most of the technical indicators are weak on the weekly & monthly chart as of now. Therefore please note that to keep the hope of up move alive in the month of February-2025 it has to move above 49587.20 & 49592.55 and sustain on the closing basis, else it may drift down and if it moves above 49655 and sustain on the closing basis then it will gain strong foothold and may sharply move up further. It is important to mention here that to keep the hope alive for continuing the up-move in the year 2025 it has to move above 50841.90 & 50860.20 and sustain on the closing basis then it may further extend the up-move and can get back on the strong up-momentum track.

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. 

Thanks 

Narendra Kumar Surana

Email—suranank@gmail.com

Mobile—8240951127/9831313654.