AN ELABORATE TECHNICAL UPDATE ON CNX-NIFTY FOR-19.2.2026

 

CNX-NIFTY

Open—25752.65---High—25828.05---Low---25645.15--Close---25819.35 on 18.2.2026

Support:25740.80/25726.80/25718.20/25693.25/25669.35/25548.70/25473.40/25318.45/25153.65/25079.80/25008.20/24919.90/24918.65/24882.30/24857.75/24854.80/24792.30/24753.15/24694.35/24587.70/24537.60/24502.15/24498.20/24494.45/24473/24462.40/24404.70/24337.50/24226.70/24198.75/24141.80/24099.70/24094.20/24073.90/23938.85/23935.75/23893.70/23873.35/23869.65/23847.45/23816.15/23807.30/23667.20/23664/23644.80/23637.65/23484.15/23537/23426.30/23391.65/23338.70/23263.15/23110.80/23049.95/23047.25/22976.85/22794.70/22786.90/22775.70/22768.40/22676.75/22625.30/22577.40/22546/22525.65/22502/22314.70/22303.80/22281/22165/22124.70/22104.85/21964.60/21875.25/21860.65/21821.05/21777.65/21710.20/21530.20/21448.65/21281.45/21137.20/21021.88/20976.80/20769.50/20291.50/20222.45/19991.85/19839/19333.60.

Resistance:25842.95/25891/25057.60/26097.85/26104.20/26129.60/26173.30/26202.60/26236.40/26246.65/26277.35/26325.80/26340/26357/26374/26404/26458/26497/26567/26594/26650/26678/26694/26717/26816/26842/26995/27001/27095/27212/27293/27375/27510/27824.

OVERALL VIEW ON THE DAILY CHART: --

It opened on a positive note and thereafter it had both side moves during the day and finally, ended the day with a gain of 93.95 points. it is also important to mention here that it still has earlier unfilled gaps (gap points on downside are 24164, 22923, 22468 & 22254- gap point on the upside 25108.10) also on the downside/upside, 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, this is not a good sign for a steady market.

The technical setup is still weak, it is into deep correction mode for its recent rise, below its long term rising trend line, has lower bottom on the line chart, so all together it is slightly concerning and can drag it down. But the good thing is that it is above almost all its short, medium & long term averages, above short term rising trend line, it is way above its critical bottom of 25693.25 and almost all the important technical indicators are positive now, therefore there is a good chance that it may extend the up-move till it holds 25693.25 on the closing basis. However moving down if it holds the key support points of 25817---25759----25740.80----25726.30---25718.40---25693.25----25635----25631----25530----25318.45-----25122---24996.89---24944.80----24857.75----24753.15---24744---24587---24404.70—24337---23935.75---23847.85 (some figures will change daily), on the closing basis then the chances of extending the up-move will be alive. Please note that it is into deep  correction mode, therefore break below each point will weaken it, but break & sustained close below 25759 may signal weakness, break & sustained close below 25693.25will dampen the chances of a continued up-move, break & sustained close below 25631 will threaten the long term uptrend again, break & sustained close below 25530 will weaken it further and may trigger fresh fall, break & sustained close below25318.45  may accelerate the fall , break & sustained close below 25122 will potentially threaten the long term uptrend, break & sustained close below the range of  24996.89---24944.80 may dampen the chances of up-move further, break & sustained close below 24744 can drag it down to 24337 levels and finally break and sustained close below it can drag it down to much lower levels.  

Moving up the key resistance points could be at 25842.95----25891—--25892.77------25917----25948----25951.82----26013----26051.13---------26104.20----26124.28---26129.60----26173.30---26212.73----26223.88---26246.65----26256.33----26277.35—26325.80---26373.20 (some figures may change daily or at some point of time) 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 it is into deep corrective mode, moving up further its broad important resistance points could be at 25917----25948----26013 and it may correct at any of these points and may resume the up-move  or halt it for a while, but if it moves above 26013 and sustain on the closing basis then it is likely that it could retest its all-time high of 26373.20 or may go beyond it. But it is important to mention here that to keep the hope of continued up move alive in the year—2026 it has to move above 26129.60----26173.30 and sustain on the closing basis and to get back into strong up-momentum track in the year—2026 it has to moves above 26325.80 and sustain on the closing basis, else it may start to drift down again. It is in the long term uptrend, but still into correction mode.

IMPORTANT NOTE: - THE IMPORTANT POINTS FOR THE YEAR--2026 ARE 26129.60---26173.30---26325.80 AND TO KEEP THE HOPE ALIVE FOR A CONTINUED UP-MOVE IT HAS TO SUSTAIN ABOVE 26129.60---26173.30 AND TO GET INTO STRONG UP MOMENTUM IT HAS TO MOVE ABOVE 26325.80 AND SUSTAIN ON THE CLOSING BASIS THROUGH-OUT THE YEAR , ELSE IT MAY START TO DRIFT DOWN.

TECHNICAL INDICATORS  AND MOVING AVERAGE PLACEMENT ON THE CHART;-

POSITIVE POINTS:-

1. Almost all the important indicators such as EV, MACD, PS,ST & VM is in the buy mode and RSI is neutral now, so it may witness up rally at times and may last too.

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

3. It is above almost all of its medium-term moving averages on the daily chart & above all on the weekly & monthly chart.

4. It is above all its long terms moving average on the daily chart and the top average is placed at 25631(figure will change daily) for the day.

NEGATIVE POINTS:-

1. It is in the overbought zone and ADX is in the sell mode so it may correct at times.

2. It is below few of its medium term moving average on the daily chart.

In view of the above observation there is a mixed possibility and it can swing both ways but with a slight upward--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: - Few important indicators are such as MACD, EV & VM is in the sell mode, RSI is neutral, but it is in the oversold zone, so it may give relief rally at time but that may not last, so overall bias is down as of now.

MONTHLY CHART: -Few indicators are in buy mode such as PS & ADX, but key indicator such as MACD, ST, & VM are in the sell mode, it is in the overbought zone and with negative divergence in RSI. Therefore, all together indicators are painting a mixed picture now with slight tilt towards down-side as of now; therefore, further fall in the coming months cannot be ruled out, so be watchful.

IT IS BUY ON DECLINE MARKET  NOW;-

It is into deep correction mode but above its most critical points 26693.25 & 25631, therefore now it buy on decline market till it holds the above range.  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 still majorly all of its most critical  1^st,2^nd, 3rd, 4th & 5^th make or break bottom of  25693.25----25318.45-----24587.70---24337.50 & 21743.65 sustained close above it will keep the hope alive of resuming the up-move again.

2. It is above its 1^st downtrend line, which is placed at 25139(figure will change daily) for the day, it is a positive sign.

3. It is above its short term rising trend line, which is placed at 25227(figure will change every day), it is a positive sign.

4. It is above almost all of its short-term moving averages now on the daily chart and the important average range for day is 25759---25753----25706—25660---25655---25530 (figure will change every day), sustained close above this range may help it to extend the up-move.

5. It is into deep correction mode now but bounced back above one of its correction threshold point of 25777.22 sustained close below this point can keep the hope alive of an extended up-move.

6. 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. To get back into strong up-momentum track it has to move above 26277.35 & 26325.80 and sustain on the closing basis, else it may drift down.

3. It is into deep correction mode now as it is below almost all(except for one) of its threshold point of 26256.33----26220.53----26212.73----26124.28---26051.13----25951.82---25908.63---25892.77 sustained close below these points can drag it down further.

4. It is below its 2nd downtrend line, which is placed at 26056(figure will change daily) for the day, it is a negative sign.

5. It is below its major long-term rising trend line which is placed at 25922 for the month of February-2026; sustained close below it may witness an accelerated fall.

6. It is below its major long-term rising trend drawn from the bottom of 7511 made on 20.3.2020, which is placed at 25964(figure will change and inch up every day) for the day, sustained close below it may drag it down sharply.

7. It has lower bottom on the line chart.

TRADING CALL: --

1. Long trade can be tried on decline near or within the range of 25760---25700 if it holds this range for some time then with a stop loss of 25610 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 25920---25960 with a stop loss of 26030 or can sell If it moves below 25620 and maintain for some time, then with a stop loss of 25710. 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

Mobile—8240951127/9831313654.

Email--- suranank@gmail.com