AN ELABORATE TECHNICAL UPDATE ON CNX-BANK NIFTY FOR—16.12.2025

 

CNX-BANK NIFTY

Open—59053.70---High—59533--Low—59052.30---Close—59461.80 on 15.12.2025.

 

Support:59455/59350/59182/59120/58688.55/58577.50/58469.90/58380.50/57628.40/57594.25/57482.05/57363.70/57157.85/57049.50/56623.60/56594.25/56204.85/56098.70/55821/55695/55547.35/55475.45/55149.30/54905.60/54576.60/54467.35/54226.60/54176.45/53888.30/53561,75/53483.05/53357.70/52794.95/52782.75/52760.20/52577.50/52493.95/52354.85/51979.75/51749.45/51749.45/51693.50/51138.90/51133.20/51000.90/50947.70/50860.20/50841.90/50641.75/50438.30/50382.10/50369.40/50194.30/49974.75/49904.40/49836.10/49787.10/49688.80/49654.65/49459/49300/49162.65/49057.40/48972.55/48906.05/48839.10/48734.35/48636.45/48525.60/48292.25/48203.45/48161.75/48074.05/47898.35/47844.15/47702.90/47363.40/46983.75/46077.85/45828.80/45661.75/44633.85/44429/43600.25/43345.45/43230.95/42582.20/42105.40. 

Resistance:59897.50/59918/59932/59969/59998/60033/60114.30/60169/60231/60354/60678/60719/60875/61041/61342/.

OVERALL, VIEW: --

It opened with a down gap and thereafter had both side moves during the day and in the process filled the gap of the day and finally, ended the day with a gain of 71.85 points. It is also important to mention here that it still has earlier unfilled gaps (gap points are 56922.70,55616.45,51361, 51244 & 50496), 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 it is not a good sign for a steady market.

It is still into correction mode, broken recent bottoms on the line chart, below its key points for the month of December-2025(mentioned below in the important note) which are important to keep the up momentum on, technical indicators are also weak and above all the volatility is a deep concern, so all together it is exhibiting weak sign. The technical setup has weakened a bit but still showing some hope that it may resume the up-move, but chances of it looks dicey. However please note that moving down its key support points are at 59416.58----59337----59292-----59128----59110.10---59101.08-----58925.70---58799.90----58724.80----58649.50---58567.90---57157.85--56799(figures may change) and as long as  it holds these points on the closing basis then the chances of the up-move  may be alive, but it is already  into correction mode , therefore break and sustained close below the range of 59337----59292-----59128 may trigger fresh fall, but as long as it holds 59110.10  on the closing basis  chances of up move will be alive and the broad upside target could be 59612----59805----59852, it may correct at any of these points and may resume the up-move again or may halt it for a while but if it moves above 59852 and sustain on the closing basis then it could retest its all-time high of 60114.30 or may go beyond it also, but break below 59110.10 may dampen  the possibility of an up-move for a while.  Break & sustained close below the range of 59101.08 may weaken it further, break & sustained close below the range of  58925.70---58799.90----58724.80----58649.50---58567.90 will push it into deep correction mode and can drag it down further and finally break & sustained close below 57157.85 & 56839(figure may change) may witness an accelerated fall and if it sustains below these poi nts then the long term uptrend will also be threatened and correction could be more painful time-wise and price-wise both, which may please be noted.

Moving up the target or resistance points could be at 59627.13----59752.70-----59768.61------59852---59897.50---60102.05---60169---60231---60354--60678 (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 halt the up-move for a while. Please note that if it moves above the range of 59627.13----59752.70-----59768.61 it will get out of corrective mode and may resume the up-move, but to keep the up-momentum going in the month of December-2025 it has to move above 59852-----59897.50---60102.05 and sustain on the closing basis, else it may drift down.  It is in the strong long-term uptrend but it is into correction mode now.

IMPORTANT NOTE: - THE IMPORTANT POINTS FOR THE MONTH OF DECEMBER-2025 ARE 59752.70----59897.50 & 60102.05 AND TO KEEP THE UP MOMENTUM GOING IN THIS MONTH IT HAS TO SUSTAIN ABOVE THESE POINTS ON THE CLOSING BASIS, ELSE IT MAY START TO DRIFT DOWN

TECHNICAL INDICATORS AND MOVING AVERAGE PLACEMENT;-

POSITIVE POINTS:-

1. Two technical indicator ADX & ST is in the buy mode and it is in the neutral/oversold zone, so it may give up rally at times but that may not last.

2. It is above all its short-term moving averages on the daily, weekly & monthly chart.

3. It is above all its medium-term moving average on the daily, weekly & monthly chart.

4. It is above all its long terms moving average on the daily chart and the top average is placed at 56839(figure will change daily) for the day.

NEGATIVE POINTS:-

1.  Almost all the important indicators such as EV, MACD, PS & VM are in the sell mode and RSI is with negative divergence, so down move may happen at times and can extend also.

In view of the above observation there is a mixed possibility and it can swing both ways but with a downward-bias as of now. Furthermore please also note that earlier vertical rise, unfilled gaps, negative divergence and in the overbought zone on weekly & monthly chart is still a concern, therefore fall also cannot be ruled out in coming weeks & months. 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: -

WEEKLY CHART: - Almost all the important indicators are positive MACD, EV, PS & ADX are in the buy mode, so the up-move may extend,   but RSI is showing negative divergence, and VM & ST is in the sell mode and it is in the overbought zone in certain indicators, therefore fall also looks quite likely in coming weeks. So it is giving mixed sign with slight tilt towards the upside as of now.

MONTHLY CHART:-Few indicators are in the buy mode such as MACD,PS,ST & ADX but it is in the overbought zone and with negative divergence in RSI and  VM is in the sell mode, therefore, all together indicators are painting a mixed picture now with a slight tilt towards up-side as of now.

IT IS SELL ON THE RISE MARKET  NOW;-

It is into short term correction mode for its recent rise, therefore it is sell on the rise market now till it close above 59550 and sustain.  But long trade can also be tried on decline or sharp decline near critical support points or range with strict stop losses, for intraday gains.

STRENGTH: -

1. It is above its most crucial 1^st & 2nd bottom of 57157.85 & 54226.60, if it sustains above, it on the closing basis then the chances of the up-move will be alive.

2. It is above few of its correction threshold points of 59416.58---58724.80-----58567.90-----59101.08 (figure may change), sustained close above these points may keep the hope alive for moving up further.

3. It is above its major long-term rising trend line which is placed at 57258 for the month of December-2025, it is a good sign.

4. Its major long term rising trend line drawn from the bottom of 16116 made in 2020 is placed at 57589 (figure may change daily) for the day.

5. It is above all its short-term moving averages now on the daily chart and the important average range for day is between 59337---59317--59309---59292---59128(figure will change every day), sustained close above this range can  help it to extend the up-move.

6. It is above its short-term rising trend line, which is placed at 59000 (figure will change daily) for 16.12.2025, if it sustains above it then the chances of up-move will be alive.

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. It is into correction mode as it is below few of its threshold points of 59768.61----59627.13 (figure may change), sustained close below these points can pull it down.

3. It is below top to top rising trend line now and for 16.12.2025 it is placed at 59631 (figure may change), sustained close below it is a weak sign and can drag it down.

4. It has broken its recent bottoms on the line chart, which is a very weak sign, but watch for the lower top.

5. The price action was negative today.

TRADING CALL: -- 

1.

For aggressive traders long trade can be tried on decline near or within the range of 59389----59341 if it holds this range for some time then, with a stop loss of 59040 for intraday gain   else avoid. For safe traders it is suggested that they should try long trade only once it closes above 59550 and sustain, 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 59770---59870 with a stop loss of 59980 or can sell if it moves below 59040 and maintain for some time then with a stop loss of 59240.  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.