A TECHNICAL UPDATE ON CNX-BANK NIFTY—25.7.2025

 

CNX-BANK NIFTY

Open—57316.60---High—57316.60--Low—56850.90---Close—57066.05 on 24.7.2025.

 

Support:57049.50/56623.60/56594.25/56204.85/56161.40/56098.70/55957.75/55695/55475.45//55149.30/54576.60/54467.35/54442.30/54176.45/53888.30/53483.05/53357.70/52794.95/52782.75/52760.20/52577.50/52493.95/52354.85/51979.75/51749.45/51749.45/51693.50/51138.90/51133.20/51000.90/50947.70/50860.20/50841.90/50641.75/50438.30/50382.10/50369.40/50194.30/49974.75/49904.40/49836.10/49787.10/49688.80/49654.65/49459/49300/49162.65/49057.40/48972.55/48906.05/48839.10/48734.35/48636.45/48525.60/48292.25/48203.45/48161.75/48074.05/47898.35/47844.15/47702.90/47363.40/46983.75/46077.85/45828.80/45661.75/44633.85/44429/43600.25/43345.45/43230.95/42582.20/42105.40. 

Resistance:57276.55/57312.75/57363.70/57375.80/57566/57628.40/57683/57755/58000/58224/58316/58479/58950.

OVERALL, VIEW: --

It opened on a positive note and thereafter had both side moves during the day and finally, ended the day with a loss of 144.40 points. But it is important to mention here that it still has earlier unfilled gaps (gap points are 56233.55,54054.80, 51361, 51244 & 50496) also on the downside, which is still a huge concern, although stipulated time for filling the gap is over long ago, but it will fill the gap one day for sure. So, be cautious. Please note that it is often exhibiting volatility, and is not a good sign for a steady market.

The technical setup has improved a bit but still weak, as it slipped again into short correction mode  today , it has broken its rising trend line again, furthermore half the important technical indicators are negative, all together it is a weak indication and can pull it down further. But the positive thing is that it still has higher top & bottom on the line chart and higher top on the bar chart, it is above all its short, medium & long term moving average on the daily, weekly and on the monthly chart, which is a positive sign for the continuation of the up-move. But for sustained up-move it has to move above its rising trend-which is placed at 57155 (figure will change and will inch-up every day) for 25.7.2025 and sustain and also moves above its critical point of 57344 & 57376 and sustain on the closing basis, else it may drift down further. Moving down from here  its good support points or range could be at 57049.50----57043.33---57010----56910---56908.08---56879---56650.10---56540 & 56098.70  it is a strong bounce back range and it can bounce back from any of these points , but break & sustained close below  the range of 57049.50----57043.33---57010  will deepen correction,

break  & sustained close below the range of 56910----56540 will push it into medium & deep correction mode for its recent rise and may trigger fresh fall and may dampen the chances of continuation of the up-move for a while and break & sustained close below 56098.70 may witness an accelerated fall and then moving down further its most critical support points or range could be at 55629.14----55285.91-----54467.35(some figures may change), which is yet again a very strong and important bounce back points or range and if it holds this range then the chances of resuming the up move will still be faintly alive. But break & sustained close below the range of 55629.14----55285.91 will push it into medium and deep correction mode for its earlier rise and break & sustained close below 54467.35 will dampen the chances of up-move in the year 2025.

Moving up the broad resistance points could be at 57189.04---57292----57344-----57376----57566---57629(some figures may change)(for complete resistance points see the table on the upside) it may correct at any of these points and then may resume the up-move again or may pause the rally for a while. Please note that if it moves above 57189.04 and sustain on the closing basis then it will get out of corrective mode and may extend the up-move, if it moves above 57344 & 57376 and sustain on the closing basis then it may get back into strong up- momentum track and may retest its all-time high of 57628.40 or may go beyond it also. It is in a strong long term uptrend as of now.

TECHNICAL INDICATORS PLACEMENT ON THE DAILY CHART;-

It still has higher top & bottom on the line chart and higher top on the bar chart,  it above all its short, medium & long term moving averages on the daily, weekly & monthly chart, which is a positive sign for the continuation of the up-move. But almost all the important technical indicators are negative now and majority of them are in the sell mode such as MACD, EV, VM and RSI with huge negative divergence and it is in the overbought zone. The positive factor are that ADX, PS & ST is in the buy mode on the daily chart, so it can have relief rally at times but that may not last long, therefore there is a high probability of a correction anytime soon, so in totality as of now it is giving mixed signal therefore at times it may swing both ways but with slight tilt towards upside as of now. Furthermore please note that earlier vertical rise, unfilled gaps, negative divergence and in the overbought zone on weekly & monthly chart is still a concern, therefore further fall cannot be ruled out in coming days, so it is suggested to be extremely alert and cautious in your long trade commitments at this juncture. Please keep an eye on the critical resistance & support points and price action for further directional indication.

TECHNICAL INDICATORS PLACEMENT ON THE WEEKLY & MONTHLY CHART: -

On the weekly chart major important indicators are positive such as MACD, PS, ADX & EV are in the buy mode, but RSI is with huge negative divergence and it is in the overbought zone, which is a concern, so it can correct at times. On the monthly chart few indicators are in buy mode such as MACD, ST, PS & ADX, but it is in the overbought zone and with huge negative divergence in RSI. Therefore, all together indicators on the weekly & monthly  chart more or less seems positive for the up-move , but on the monthly chart huge negative divergence and it is in the overbought zone, which is a deep concern, therefore chances are that it can sharply go down in coming months.

IT IS BUY ON DECLINE   MARKET  NOW;-

It got into corrective mode again but still it is buy on decline market now till it holds 57043 on the closing basis. But short trade can also be tried on the rise near critical resistance points or range with strict stop losses, for intraday corrective gains.

STRENGTH: -

1. It is way above its most crucial bottom of 55149.30& 53483.05, if it sustains above it on the closing basis then the chances of the up-move will be alive.

2. It is above all its long-term moving averages and the top average is placed at 53793(figure will change every day). Close below this point will be a warning signal.

3 It is almost above all (except for one)its correction threshold point of 57043.33---56908.08-----56650.10----55629.14 & 55285.91 (figure may change) sustained close above these points could be a strong hope for moving up further.

4 It is way above its most critical point of 54467.35, please note that it is essential to stay above this point to keep the up-momentum going in the year-2025, else it may drift down.

5. It is above its long term rising trend-line which is placed at 54556 &50016 for the month of July—2025.

6. It is making lower top & bottom on the line & bar chart.

7. It is above all its short-term moving averages now on the daily chart and the important average range for day is between 57010--56941--56932---56910---56879---56836(figure will change every day), sustained close above this range may help it to extend the up-move.

8. The price action was positive today.

WEAKNESS: -

1. Volatility and wild swing can be seen in the market quite often, which is not a good sign for a steady market condition and it can eventually drag it down may be drastically in the coming days/weeks and months. So be watchful.

2. Half of the important indicators are negative now and majority are in sell mode such as MACD, EV,  VM and RSI is with negative divergence, so, it can correct at times and it slipped into short correction again today

3. The on-going up-move is relief rally only till it closes above 57344 & 57376.

4. It is into short term correction mode for its recent rise as it closed below its threshold point of 57189.04 (figure may change), sustained close below it may drag it down further.

 

TRADING CALL: -- 

1. Long trade can be tried on decline near or within the range of 56950---56850 but not below it with a stop loss of 56540 for a possible intraday gain, else avoid. Please note that long trade in a corrective market could be a risky affair, but can be tried near critical support points for intraday gains.

2. Short trade can be tried on the rise near or within the range of 57325—57375 with a stop loss of 57500. It could be a risky trade but can be tried for intraday corrective gains.

NOTE: - If it opens up with huge gap up then wait for it to settle down before initiating long position, but short trade can be attempted on huge gap up if it is near the selling point and vice versa . Since, it is showing volatility so any type of trade should be squared off during the day, if you don’t have reasonable profit margin in the trade. Day squaring off is strongly suggested in any case.

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.