AN ELABORATE TECHNICAL UPDATE ON CNX-BANK NIFTY FOR—27.2.2026

 

 CNX-BANK NIFTY

Open—61193.90---High—61284.75--Low—60813.30---Close—61187.70 on 26.2.2026. 

Support:61099/60980/60473.20/60235.15/60114.30/60060.70/59806.60/59674.80/59581.85/58925.70/58864.20/58799.90/58737.60/58712.70/58649.50/58121.60/58050/57783.20/57628.40/57594.25/57482.05/57157.85/57049.50/56623.60/56594.25/56204.85/56098.70/55821/55475.45/55149.30/54905.60/54576.60/54467.35/54226.60/54176.45/53888.30/53561,75/53483.05/53357.70. 

Resistance:61232/61342/61764.85/61998/62078/62251/62382/62427/63091.

OVERALL, VIEW: --

It opened on a positive note and thereafter had both side moves during the day and finally, ended the day with a gain of 144.35 points. It is also important to mention here that it still has earlier unfilled gaps (gap points are 58687.05,56922.70, 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.

The technical setup is looking good for the continuation of the up-move, it is out of corrective mode and all other parameters on the technical chart are still strong for a continued up-move. But the slight weakness is there as it still has lower top, but higher bottom on the line chart, so let it make higher top again to get back into momentum, and else it may drift down, so watch out. Therefore moving down if it manages to hold the key support points of 61099---60955—-60884----60824.83---60677.22-----60529----60473.20------60144.94----60114.30------59985.44-----59828.54---59809.96---59674.80----59667------59581.85-------58925.70---58799.90-----58789---58712.70----58649.50----58587----58445---58062.34---57783.20----57673.21---57157.85 ---57046(some figures may change) on the closing basis then the chances of a continued up-move will be alive. But break & sustained close below the range of 60884----60824.83---60677.22 will push it into correction mode again an may trigger fall, break & sustained close below 60529----60473.20 will be an alert sign for going down further, break & sustained close below  60144.94 & 60114.30 may dampen the chances of a continued up-move  in the year-2026,  break & sustained close below the range of 59985.44-----59828.54---59809.96 will make the correction  deeper and may trigger fresh fall,  break & sustained close below  the range of 59674.80------59581.85 will be a potential signal that it may not continue with an up-move in the year—2026 , break & sustained close below the range of 58789---58712.70----58649.50----58587----58445 will push it into deep correction mode and  will also threaten the long term uptrend and break & sustained close below 57783.20 & 57157.85  may witness an accelerated fall  and then the correction could be more painful time-wise and price-wise both and finally break & sustained close below 57046 will potentially threaten the long term uptrend and may witness an accelerated fall, which may please be noted.

Moving up the target or resistance points could be at 61265—61341—61679-----61764.85---61998---62078---62251 (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 moving up further its broad resistance points are 61265—61341---61679 it may correct at any of these points then may resume the up move again or halt the up-move for a while, but if it moves above 61341 and sustain on the closing basis then it could retest its all-time high of 61764.85 or may go beyond it also. It is in the strong long-term uptrend.

IMPORTANT NOTE: - THE IMPORTANT POINTS FOR THE YEAR--2026 ARE 59581.85---59674.80---60114.30 AND TO KEEP THE HOPE ALIVE FOR A CONTINUED UP-MOVE IT HAS TO SUSTAIN ABOVE 59581.85---59674.80 AND TO GET INTO STRONG UP MOMENTUM IT HAS TO MOVE ABOVE 60114.30  AND SUSTAIN ON THE CLOSING BASIS THROUGH-OUT THE YEAR , ELSE IT MAY START TO DRIFT DOWN.

TECHNICAL INDICATORS AND MOVING AVERAGE PLACEMENT;-

POSITIVE POINTS:-

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

2. it is above all of its medium term moving averages on the daily, weekly& monthly chart.

3. It is above all its long terms moving average on the daily chart and the top average is placed at 58587(figure will change daily) for the day.

4. the technical indicators, EV, MACD, PS, VM &ADX is in the buy mode, so it may rally at times and that may last too.

NEGATIVE POINTS:-

1. It is in the overbought zone, ST is in the sell mode and RSI with negative divergence, so down move may happen at times.

In view of the above observation there is a mixed possibility and it can swing both ways as of now with an upward bias as of now. But 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: - Few important indicators are positive now such as EV, MACD,PS, VM & ADX  are in the buy mode,  RSI is with slight negative divergence and it is overbought zone and ST is in the sell mode therefore in totality it is slightly with upward bias but it may have both side swings at times.

MONTHLY CHART:-Few indicators are in the buy mode such as MACD, ST, PS & 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 down-side as of now.

IT IS BUY ON DECLINE MARKET  NOW;-

It is into uptrend and above important key points; therefore it is buy on decline market now till it holds 60473.20 & 60114.30 points on the closing basis.  But short trade can also be tried on sharp rise and near critical resistance points or range, for intraday corrective gains.

STRENGTH: -

1. It is above its most crucial  1^st,2nd, 3^rd, 4th, 5th, 6^th,7^th, make or break bottom of  57783.20,57157.85--54226.60—53561.75---53483.05--49156.95 & 47702.90 if it sustains above these points on the closing basis then the chances of the up-move will be alive and great, else it may correct sharply.

2. It is above all its correction threshold points of 60824.83 ---60677.22---59985.44---59828.74---59809.96---58789---58445.85---58062.34—57673.21(figure may change), sustained close above this range may keep the hope alive for an extended up-move.

3. It is above all of its short-term moving averages now on the daily chart and the important average range for day is between 61109---61031--60979---60884---60651---60529(figure will change every day), sustained close above this range can help it to extend the up-move.

4. It is above its short term rising trend line which is placed at 59585 (figure will change every day) for the day. It is a positive sign.

5. It is above its major long-term rising trend line which is placed at 58525 for the month of February-2026, it is a good sign.

6. It is above its recent down trend line which is placed at 59527(figure will change every day) for the day.

7. Its major long term rising trend line drawn from the bottom of 16116 made in 2020 is placed at 59180 (figure may change daily) for the day. It is above it now which is a positive sign.

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. The price action was negative today.

3. It has made lower top but made higher bottom, so let it make higher top again.

TRADING CALL: -- 

1.

Long trade can be tried on decline near 61045 if it holds this point for some time then, with a stop loss of 60800 for intraday gain else avoid.

2. Short trade can be tried on the rise near or within the range of 61550---61650 with a stop loss of 61800 or can sell if it moves below 60720 and maintain for some time, then with a stop loss of 60950.  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.