📊 AN ELABORATE TECHNICAL UPDATE ON CNX-NIFTY
30 March 2026
CNX-NIFTY
Open: 23173.55 | High: 23186.10 | Low: 22804.55 | Close: 22819.60
🧠Key Support & Resistance Zones
🟢 Support Zones
22794 – 22502
22314 – 21821
21777 – 20976
🔴 Resistance Zones
22976 – 23537
23637 – 23938
24073 – 24587
📉 OVERALL VIEW ON THE DAILY CHART
The index opened weak, traded lower, and closed near the day’s low with a loss of 486.85 points, completely erasing the previous gain.
🔻 This indicates the relief rally may have ended and further decline is possible.
However, RSI shows positive divergence, with a higher top and positive EV, suggesting a temporary bounce may occur but may not sustain.
The gap at 23057.30 has been filled. Unfilled gaps remain on both sides, which remains a concern.
⚠️ High volatility continues, indicating an unstable market.
⚙️ TECHNICAL SETUP
The index is in deep correction mode, trading below short-, medium-, and long-term moving averages and key trend lines.
It remains below critical levels: 25693 — 25318 — 24587 — 24337, indicating strong downside pressure.
Key supports to watch: 22800 → 22659 → 22199 → 21743 → 21435
Break below 22800 weakens recovery chances; below 22659 may trigger fresh fall; below 22199 may push towards 21743.
🔻 Sustained move below 21743 can lead to 21654–21435, and below that may accelerate the fall.
📌 IMPORTANT LEVELS FOR 2026
26129 – 26173 – 26325
Above these levels → Bullish continuation
Below these levels → Downtrend may continue
📊 INDICATORS SUMMARY
Positive: EV, ST, VM in buy mode; RSI oversold with divergence.
Negative: MACD, PS, ADX in sell mode; price below key averages.
Weekly indicators are negative, while monthly indicators are mixed with downside bias.
📉 MARKET VIEW
🚨 SELL ON RISE MARKET — below 23393
⚡ TRADING CALL
- Long (High Risk): Above 22813 or near 22659 (intraday only)
- Short (Preferred): 23050–23110 or below 22659
⚠️ Wait after gap opening. Intraday square-off strongly advised due to volatility.
Disclaimer: Not a SEBI registered analyst. For educational purposes only.
Narendra Kumar Surana
Mobile—8240951127 / 9831313654
Email—suranank@gmail.com
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