AN ELABORATE TECHNICAL UPDATE ON CNX-NIFTY FOR-25.2.2026

 

CNX-NIFTY

Open—25641.80---High—25641.80---Low---25327.60--Close---25424.65 on 24.2.2026

Support:25388.75/25379.75/25372.70/25318.45/25153.65/25079.80/25008.20/24919.90/24918.65/24882.30/24857.75/24854.80/24792.30/24753.15/24694.35/24587.70/24537.60/24502.15/24498.20/24494.45/24473/24462.40/24404.70/24337.50/24226.70/24198.75/24141.80/24099.70/24094.20/24073.90/23938.85/23935.75/23893.70/23873.35/23869.65/23847.45/23816.15/23807.30/23667.20/23664/23644.80/23637.65/23484.15/23537/23426.30/23391.65/23338.70/23263.15/23110.80/23049.95/23047.25/22976.85/22794.70/22786.90/22775.70/22768.40/22676.75/22625.30/22577.40/22546/22525.65/22502/22314.70/22303.80/22281/22165/22124.70/22104.85/21964.60/21875.25/21860.65/21821.05/21777.65/21710.20/21530.20/21448.65/21281.45/21137.20/21021.88/20976.80/20769.50/20291.50/20222.45/19991.85/19839/19333.60.

Resistance:25473.40/25548.70/25669.35/25693.25/25718.20/25726.80/25740.80/25842.95/25891/25057.60/26097.85/26104.20/26129.60/26173.30/26202.60/26236.40/26246.65/26277.35/26325.80/26340/26357/26374/26404/26458/26497/26567/26594/26650/26678/26694/26717/26816/26842/26995/27001/27095/27212/27293/27375/27510/27824.

OVERALL VIEW ON THE DAILY CHART: --

It opened on a negative note and the open was also the high for the day and thereafter it gradually drifted down during the day and finally, ended the day with a loss of 288.35 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 very weak, it is already into deep correction mode for its recent rise, below its long term rising trend line, making lower top & bottom on the line chart, below all its short term moving average on the daily & weekly chart and below few on the monthly chart, below  all of its medium term moving average on the daily & below few on the weekly chart, and most importantly below its top & few other of its long term moving average, thereby threatening the long term up trend again and finally again below its most important make or break bottom of 25693.25, so all together it is highly concerning and can drag it down further. Therefore please note that if it does not bounce back above 25693.25 and sustain on the closing basis in a shortest possible time then it may accelerate the fall. However moving down further if it holds the key support points of 25388.75---25379.75---25372.70---25318.45-----25134---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 resuming the up-move may be alive. Please note that it is into deep  correction mode, therefore break below each point will weaken it, but break & sustained close below the range of  25388.75---25379.75---25372.70---25318.45(it almost broke the range intraday but bounced back to close above it) may accelerate the fall , break & sustained close below 25134 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 25647----25693.25----25718.40---25726.30—25740.80----25745---25817---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, but if it moves above 25647----25693.25 and sustain on the closing basis then the long term uptrend threat will dissipate and  it may extend the up- move further for sure, if it moves above  25745 and sustain on the closing basis the it will gain further strength for the up move extension  moving up further its broad important resistance points could be at 25817---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. Only few important indicators such as PS & VM is in the buy mode and RSI is neutral now, so it may witness an up rally at times but that may not last.

2. It is above majority of its short term moving averages on the monthly chart.

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

4. It is above its lower band of the long terms moving average on the daily chart and the lowest average is placed at 25134(figure will change daily) for the day.

NEGATIVE POINTS:-

1. It is in the overbought zone and EV, MACD, ST  & ADX is in the sell mode so it may correct at times and that may extend also.

2. It is below all of its short term moving average on the daily & weekly chart and below few on the monthly chart.

3. It is below all of its medium term moving average on the daily chart and below few on the weekly chart.

4. It is below its top and few other long terms moving average on the daily chart and the top average is placed at 25647(figure will change daily) for the day.

In view of the above observation there is a mixed possibility and it can swing both ways but with a slight 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: - 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 SELL ON THE RISE   MARKET  NOW;-

It is into deep correction mode  and also below its most critical range of 25647----26693.25; therefore now it is sell on the rise market now till it moves above the said range and sustain on the closing basis. But long trade can also be tried on sharp decline and near critical support points or range, for intraday gains.

STRENGTH:-

1. It is above almost all of its most critical  2^nd, 3rd, 4th & 5^th make or break bottom of  25318.45-----24587.70---24337.50 & 21743.65 sustained close above it will keep the hope alive for extending or resuming the up-move again.

2. It is above its 1^st downtrend line, which is placed at 25128(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 25250(figure will change every day), it 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. 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 all of its threshold point of 26256.33----26220.53----26212.73----26124.28---26051.13----25951.82---25908.63---25892.77---25777.22 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 25995(figure will change and inch up every day) for the day, sustained close below it may drag it down sharply.

7. It is making lower top & bottom on the line chart.

8. It is below all of its short-term moving averages now on the daily chart and the important average range for day is 25663---25649----25622—25615---25613--25596 (figure will change every day), sustained close below this range may drag it down further.

9. It is below its most critical 1st^, make or break bottom of 25693.25 sustained close below it  is a weak sign and can drag it down fast.

10. The price action was negative today.

TRADING CALL: --

1. Long trade can be tried on decline near or within the range of 25372---25346 if it holds this range for some time then with a stop loss of 25270 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 25600---25665 with a stop loss of 25740 or can sell it moves below 25318 and maintain for some time then with a stop loss of 25430. 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