DOW JONES
INDUSTRIAL AVERAGE
Open—41879.75--High—42140.66—Low—41519—Close—41989.96on 1.4.2025.
Support:41864.47/41831.74/41647.30/41433/41376/41195.64/40842.29/40661.77/40584.47/40297.33/39994.24/39905/39889/39868/39809/39571.23/39282.28/39277/38908.99/39618.20/38499.27/38457.83/38305.85/38000.90/37754.38/37611.56/37124.52.
Resistance:42051.39/42146.33/42174/42361.38/42628.32/42554.22/52660.09/42819.41/42938.87/43135.92/43325.09/43373.98/43885.52/44031.52/44104.48/44486.70/44630.43/44710.16/44769.05/44962.81/45054.36/45073.03.
Technically
it is on a very weak footing now and into correction mode and most importantly
long term uptrend is also threatened as it is mostly below all its long term
moving averages on the daily chart as of now, therefore further fall looks
inevitable in coming times with in between short relief rallies. However if it
manages to hold the point or range of 41879.73----41702.97----41647.30
then it may extend the up-move, but to keep the hope alive for a continued
up-move in the year 2025 it has to
move above 42544.22 & 42660.09
and sustain on the closing basis and then the broad upside target could be 42868----42939, and if it moves above 42939
and sustain on the closing basis then it will gain strong foothold and may get
back on a strong up-momentum track again and then the upside target could be 43385---43875---44033---44191, it can
correct at any of these points or up-move can fizzle out for a while, but if it
moves above 44191 and sustain on the
closing basis then it could retest its all-time high of 45073.63 or may go beyond it also. The chances of it happening look
slim at this point of time because the overall bias is negative as of now.
Similarly
if it break and sustain below the aforesaid range of 41879.75---41702.97----41647.30 on the closing basis then it may trigger fresh fall and can
drag it down to 40660 levels it
could be a good bounce back point but break & sustained close below 40660 can take it down to the range of 39995----39814, and this is a strong
bounce back range .but if it break & sustained below 39814 on the closing basis for a longer time period then it could come
down to 38500 levels or lower. The
short & medium term bias is negative and long term uptrend is threatened as
of now.
Furthermore,
it is important to mention here that as of now almost all the important
technical indicators are weak on the daily, weekly & monthly chart.
Therefore in totality further fall looks inevitable in coming times, provided
it do not stage a sharp recovery and move above the critical points.
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 review, 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. It is for educational purposes.
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
Mobile—8240951127/9831313654.
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Thank you for sharing your views.