A TECHNICAL UPDATE ON S & P-500 –14.4.2025

 

S & P-500

Open—5255.56--High—5381.46—Low—5220.77—Close—5363.36 on 11.4.2025.

Support:5340.65/5327.44/5264.85/5191.68/5146.06/5119.26/5104.35/5091.14/5069.90/5057.29/5011.53/499058/4953.51/4920.31/4917.94/4845.47/4818.62/4802.24/4714.82/4682.11/4637.30/4607.07/4540.82/4488.29/4458.48/4427.76/4397.59/4336.80/4328.08.

Resistance:5390.95/5402.62/5447.80/5497.09/5504.65/5603.10/5651.02/5669.65/5674/5696.51/5762.41/5765.40/5774.56/5786.95/5832.30/5853.01/5876.84/5903.26/5924.10/5962.92/5986.09/6003.79/6019.96/6029.89/6049.75/6090.27/6099.97/6101.28/6128.04/6147.43.

It has filled the gap on 9.4.2025 which it created on 4.4.2025 the gap point was 5391.95 and the gap it created on 3.4.2025 (gap point is 5572.53) is still there, but the stipulated time to fill the gap has ended, therefore chances of filling the gap has receded for now, but please note that it will fill the gap one day for sure. It is exhibiting huge volatility which is not a good sign for a steady market, which may please be noted.

Technically it is on a very weak footing now, as it is 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 5144.76 & 5059.69 (figure may change) then the up-move can extend further; else it may start the down move again. Moving down further its good support points or range could be at 5038---4971----4945----4917.94---4682.11(some figure may change), it may bounce from any of these points because it is a strong bounce back range, but break & sustained close below 4917.94 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 and finally break & sustained close below 4682.11 may witness an accelerated fall, which may please be noted. Therefore moving down 4917.94 & 4682.11 is a very crucial or make or break support point.

Similarly if it moves above 5488.73 and sustain on the closing basis then there could be an extension of the up-move and if it moves above 5562---5598---5622---5664----5701(some figure may change) and sustain on the closing basis, it may gain a good foothold and may extend the rally further, but looking at the present technical setup chances of a strong and continued up-move looks bleak at this point of time. The overall bias is 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 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 is solely of the author and for educational purpose 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.

                          Contact me for strategic guidance to enter and exit trade.

 Thanks 

Narendra Kumar Surana

suranank@gmail.com

Mobile—8240951127/9831313654.