DOW JONES
INDUSTRIAL AVERAGE
Open—40097.90--High—40097.90—Low—38264.87—Close—38314.86 on 4.4.2025.
Support:38305.85/38264.87/38000.90/37754.38/37611.56/37124.52/36952.65/36562.03/36058.90/35824/35679/34700.49/34006/33613/33271.93/32586/32327.70/31429.82.
Resistance:38457.83/38499.27/39618.20/38908.99/39277/39282.28/39571.23/39809/39868/39889/39905/39994.24/40297.33/40584.47/40661.77/40842.29/41195.64/41376/41433/41647.30/41831.74/41864.47/42051.39/42146.33/42174/42361.38/42628.32/42554.22/52660.09/42819.41/42938.87/43135.92/43325.09/43373.98/43885.52/44031.52/44104.48/44486.70/44630.43/44710.16/44769.05/44962.81/45054.36/45073.03.
It has been opening with a down gap for the last two days.
Please note that if it makes an effort to fill the gap by 10th & 11th April-2025, which is
technically possible then it can come up to 40518.01 & 41644.23 level, but if fails to fill the gap in the
stipulated time then the chances of filling the gap will recede for the time
being. But please note that it will fill the gap some day for sure.
Technically
it is on a terribly weak footing now and into deep correction mode and most
importantly long term uptrend is severely threatened and in jeopardy, as it is way
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 of 38265 then it may stage a mild recovery but that may not last, and
it may continue the down move again. Moving down further its good support
points or range could be at 38000---37808---37611---37278---37124----36952---36652---36210---36058.90,
it may bounce from any of these points because it is a strong bounce back range,
but break & sustained close below 37124
may trigger fresh fall and it may witness an accelerated fall and finally break
& sustained close below 36058.90 will
push it into confirmed bear market territory and if it stays below it for a
longer period of time then correction or the down move could be very painful
time-wise & price-wise both, which may please be noted. Therefore 36058.90 is the crucial or make or
break support point.
Similarly
if it moves above 39340 & 39872
(figure will change and will be scaled down if it breaks the low of 38264.87)
and sustain then a mild extension of recovery may happen, else down move will
continue. The short, medium and long term bias is hugely negative 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 as of now and it may seek
much lower levels in coming times may be with short in between relief rallies.
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.