NASDAQ
COMPOSITE
Open—22421.17--High—22614.41—Low—22328.13—Close—22387.68 on 6.3.2026.
Support:22256.76/22186.02/22124.78/22062.82/21898.29/21803.75/21742.46/21457.48/21033.05/20901.99/20560.17/20204.58/20110.11/19342.11/18847.74/18608.76/18083.95/17503.01/17238.24/16959.80/16668.57/15713.07/15222.78/14794.45.
Resistance:22461.14/22563.42/22692/22801.90/22891.88/22916.83/23031.87/23119.91/23169.68/23320.62/23481.49/23569.62/23665.15/23704.08/23813.30/23988.27/24019.99/24044/24208/24262/24557/24603/24614/24795/24823/24831/25082/.
Further to my last
post on 16.2.2026, the overall
technical setup still looks weak. It is into correction mode and long term
uptrend is also threatened, furthermore it is way below its most critical points
of 24019.99---23481.49 & 23241.99
for the year—2026, please note that
it is important to stay above these points to keep the hope alive for a
continued up-move in the year—2026. However, it is holding on to its good support
range of 22316.31---22312.90---22256.76---22124.78 for the month of March-2026, therefore as long as it holds this range
on the closing basis chances of a good bounce back will always be there , but
break and sustained close below this range can drag it down lower and then the
next critical strong support range would be 21898.29---21842.76---21800, it is
expected to bounce back from here but break & sustained close below 21898.29 & 21842.76 will push it
into deep corrective mode and break & sustained close below 21800 will potentially threaten the
long term uptrend and then it may witness an accelerated fall and may seek much
lower levels.
Its long term uptrend is threatened now and it is correction
mode also, therefore likely to go down further, so watch out for next few days
how correction culminates and also keep a watch on the price action for proper
direction.
Similarly moving up its broad resistance points are at 22668.21----22950----23241.99---23481.49---23539.64---24019.99(for in between resistance see the resistance
table on the upside), it may correct at any of these points then may resume
the up-move again or may halt it for a while, but if it moves above 22950 and sustain on the closing basis
then the long term threat will dissipate and it may get good strength to move up
further, if it moves above 23241.99---23481.49
and sustain on the closing basis then it will raise strong hope for a
continued up-move in the year-2026,
if it moves above 23539.64 and
sustain on the closing basis then it will get out of corrective mode and may
resume the uptrend again and finally if it moves above 24019.99 and sustain on the closing basis then it may get back into
strong up momentum track again, chances of which looks slim at this point of
time.
It is important to mention here that that majority of some
important technical indicators are weak on the daily, weekly & monthly
chart; therefore further fall in coming days, weeks & months looks
inevitable at this point of time may be with-in- between short relief rallies.
So be alert and watchful particularly in long trades.
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.