NASDAQ
COMPOSITE
Open—23442.72--High—23610.74—Low—23374.26—Close—23501.24 on 23.1.2026.
All-Time High:--24019.99 made on
29.10.2025.
The overall technical setup looks good for the continuation
of up-move, but after making an all-time high of 24019.99 on 29.10.2025 it corrected and made a bottom at 21898.29 and thereafter moving in a
range of 22692---23813.30 now for
quite some time and breakout on the either side will decide the further
direction for it. But it is important to mention here that to keep the strong
up-momentum on in the year-2026 it
has to move above 24019.99 and
sustain on the closing basis and to keep the hope alive for the continuation of
the up-move it has to sustain above 23481.49
& 23241.94 on the closing basis, please note that it has already
triggered alert point of 24019.99 as it is decisively below it and finally
break & sustained close below 23481.49
& 23241.94 will trigger fresh fall and it may witness an accelerated
down move.
Please note that the range for the week is between 23610.74---22916.83 it may oscillate in
this range during the week, but breakout on the either side will decide the
further direction for it for the week, but please keep the yearly important
figures mentioned in the above paragraph in the mind for a broader view and
direction.
Although technical setup still looks o.k. for a an up-move,
but few important technical indicators speaks otherwise and indicates that it
is in the overbought zone , with negative divergence and certain negative
signal therefore it is giving mixed signals at this point of time and can
swings both ways at times but with slight downward tilt as of now because of the technical indicators placement. Therefore
last but not the least please keep a watch on the price-action for a potential
weakness in it. In view of the above observation it is suggested to be
extremely cautious and alert in your trades during the week.
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.
This is for educational purpose.
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
Mobile—8240951127/9831313654.
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Thank you for sharing your views.