A TECHNICAL UPDATE ON NASDAQ COMPOSITE –27.1.2025

 

NASDAQ COMPOSITE

Open—20087.11--High—20118.61—Low—19897.13—Close—19954.30 on 20.12.2024.

Support:19930.05/19825.63/19814.95/19641.34/19403.90/19310.79/19168.38/19117.59/18831.91/18670.81/18598.87/18083.98/17770.62/17496.44/17033.96/16668.57.

Resistance:20007.11/20070.08/20118.61/20204.58/20578/20729/21053.

Technically it is on a very strong footing but critically poised and the critical points now are 19930.05---19825.63---19814.95. Please note that if it sustain above 19930.05 on the closing basis then it can retest its all-time high of 20204.58 or may go beyond it also and if it sustain above it on the closing basis then the possible upside target could be 20578---20729---21053 or more, but if it breaks & sustain below 19825.63 & 19814.95 on the closing basis then it will trigger correction again will slide down. It is important to mention here that although the chart setup is very good but it had a vertical rise from 18831.91 to 20118.61 in just 9 days and most importantly it is showing negative divergence on the weekly chart and in overbought zone on the daily, weekly & monthly chart, therefore it seems highly vulnerable for correction at this juncture, so, it may correct provided it fall below the range of 19930.05---19814.95 and sustain on the closing basis. The short, medium & long term trend is up as of now.

Please note that if it gets into correction and moves down sharply then the  most critical support points would be at 19403.90---19310.79 & 19144.58, if it breaks & sustain below 19403.90 & 19310.79 on the closing basis then it will make the chances of a sustained up-move dim in the year 2025 and finally if it breaks & sustain below 19144.58 on the closing basis then it will get into deep correction mode and may seek much lower levels.  

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.

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.

                          Contact me for strategic guidance to enter and exit trade.

 Thanks 

Narendra Kumar Surana

suranank@gmail.com

Mobile—8240951127/9831313654.

 

 

NASDAQ COMPOSITE-A TECHNICAL UPDATE-18-1-2016

NASDAQ COMPOSITE

CLOSED AT 4488.42 ON 15-1-2016.

                                                                           

SUPPORT:-4419.41/4321/4292.14/4116.60/4074.17/3968/3946.03/3855.07

 RESISTANCE:-4547.31/4567.60/4580.46/4714.80/4871.89/4897.65/4908.66/4960.87/5007.41.

(Figures in bold are important)

It fell down by almost  700 points in last thirteen trading session and in the process it has broken all its short and long term moving averages decisively which speaks of gross weakness in it. Please note that it’s most important benchmark points for the entire year of 2016 are 5007.41, 4897.65 & 4292.14 and it is way below the first two points now and near to the third one. But looking at the overall technical setup it seems that it is a matter of time only but the level of 4292.14 will be taken out for sure and sustained break below this mark may accelerate the fall, going down it will find good support in the range of 4200—3960 whether this range is taken out or not has to seen but looking at present technical setup it is likely to break this range in coming months. However in between relief rallies cannot be ruled out. It will show some strength if it moves and sustain above 4900 levels which may please be noted, chances of which looks slim as of now. It is in down trend now for sure, therefore it is very important to mention here that the threshold level for it entering the bear market is at 4185 and sustained break below this mark may trigger bigger fall this may be kept in mind. Technically it is on a very weak footing therefore it is suggested to avoid long call till it shows some visible strength.   

REMARKS: - The trend is down and in view of the above observation it seems that further fall is ahead therefore long call should be avoided but if initiated should be handled with extreme caution.

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.

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.

Note: Price stated here is of spot market.

Contact me for strategic guidance to enter and exit the trade.

Nasdaq Composite-An Overview(Article Date-26.4.2014)

 CLOSED AT :-4075.56 ON 25.4.14


SUPPORT:- 4052.14 / 3979.59 / 3968 / 3946 / 3911/ 3855

RESISTANCE:-4178 / 4186 / 4286.08 / 4371.71




In the intermediate down trend ,I was bearish in the index (see my article posted on 8.4.14)and am still bearish please ignore in between pull back rallies, until and unless it crosses 4178 mark and stays above this for a reasonable period of time  no significant up move will happen.However good support exist in the region of 3960-40 but if it maintains below 4111 for sometime then it will be a serious threat to the long term uptrend.



REMARKS:- In intermediate down trend  and some technical parameters are  indicating that it could break the level of 3791 / 3650 / 3589 in days to come,so avoid long call below 4111 for sure and only think of going long if it maintains above 4178.

     NOTE:-1.PRICE STATED HERE IS OF SPOT MARKET.

                 2.RECOMMENDATIONS ARE VALID TILL THE STOP LOSS IS TRIGGERED.

                 3.IN FAVORABLE TRADE TRAIL YOUR STOP-LOSSES FOR MAXIMUM GAIN AND CAPITAL   PROTECTION. 

 Contact me for strategic guidance to enter and exit the trade

NASDAQ composite may head for big fall

Trend in NASDAQ is up but at present in a down correction mode. It has made a recent top at 4371.71 on 6th March '14 and thereafter going down making lower tops and bottoms. Strong support for index exists at 4048 | 3968 | 3990 | 3855 | 3650. Since it is falling for quite sometime and is near strong support area, so it may give a pull back rally. Going up it may face resistance at 4132 | 4220. But if it breaks 4048 and stays below that for 2-3 days, then it is expected to go in for deep down correction.

Remarks: Some technical parameters suggest that NASDAQ composite is heading for reasonable to big fall in days to come and may go down to 3791/3650 level.