A BRIEF UPDATE ON CNX-BANK NIFTY —1.9.2025

 

CNX-BANK NIFTY

Open—53660.35---High—54086--Low—53606.45---Close—53655.65 on 29.8.2025.

 

OVERALL VIEW:-

Technically it is on an extremely weak footing, as it is below all its short term moving average on the daily & weekly chart and below few on the monthly chart too, below all the medium term moving average on the daily chart & below few on the weekly chart also. It has threatened the long term uptrend as it is below few of its long term moving average, it making lower top & bottom on the line & bar chart, all the important technical indicators are negative on the daily & weekly chart and most importantly it is way below its major long term rising trend line which is drawn from the bottom of 16116.25 made on 24.3.2020 and is placed at 55724 for the month of September-2025 and  also way below its recent critical points or range of 54467.35---54448---54312.12(some figures may change daily),therefore all together it is giving a very weak indication and if it does not bounce back above this range in a shortest possible time and sustain on the closing basis then further fall looks inevitable in coming times with-in-between short relief rallies.

Moving down further it’s next immediate and important support point will be 53483.05 it could be a strong bounce back points ,but  break & sustained close below this point may witness an accelerated down-move and then the final support range could be 52905---52598 (range will change daily), but break & sustained close below this range will trigger fresh fall and long term uptrend would also be in potential danger and then it may head for sharp fall may be with-in-between short relief rallies at times.

IMPORTANT NOTE:- THE CRITICAL POINTS FOR THE MONTH OF SEPTEMBER-2025 ARE 53655.65 & 53606.45, SUSTAINED CLOSE BELOW THESE POINTS COULD BE A WEAK INDICATION AND CAN DRAG IT DOWN ,BUT BE ALWAYS ALERT NEAR THE CRITICAL & IMPORTANT SUPPORT POINTS BECAUSE IT MAY BOUNCE BACK ALSO.

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. This is for educational purpose.

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.