S&P-500
Open—6769.03--High—6773.43—Low—6711.58—Close—6740.02 on 6.3.2026.
Support:6720.95/6711.01/6698.88/6655.69/6631.44/6593.99/6569.22/6551.36/6521.92/6508.12/6477.38/6427.02/6360.58/6343.86/6212.69/6201/6147.43/6099.97/6059.40/6003.79/5944.85/5924.10/5835.81/5768.87/5696.53/5674/5578.82/5504.65/5433.24.----
Resistance:6752.16/6764.15/6775.50/6780.13/6789.08/6799.94/6824.31/6869.91/6885.89/6887.01/6903.46/6920.34/6945.77/6952.51/6986.33/6992.61/6992.61/7002.24/7030/7073/7089/7140/7170/7371.
Further to my last post on 16.2.2026, please note that the technical setup has weakened and it
is in the correction mode now and long term uptrend is also threatened,
furthermore please note that to keep the up-momentum alive & going in the year—2026 it has to sustain above its
key point of 6845.50---6887.01 & 6945.77 but it is below
it now and if it does not bounce back above these points in a shortest possible
time then the downslide may deepen. Moving down further its broad support
points could be 6711---6673---6635---6618(for
in between support see the support table on the upside), it may bounce back
from any of these points but break & sustained close below 6618 can drag it down to 6521 or lower, which may please be
noted.
Similarly moving up its broad resistance points are at 6800---6845.50----6887.01----6945.77(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 6800
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 6845.50 & 6887.01 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 6945.77 and sustain on the closing
basis then it may get back into strong up momentum track again and may witness
an accelerated up-move.
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 keeps a watch on the price action for proper
direction.
It is important to mention here that that majority of some
important technical indicators are weak on the daily & weekly chart;
therefore further fall in coming days and weeks cannot be ruled out 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.