CNX-BANK NIFTY
Open—58050---High—58590.15--Low—58050---Close—58517.55
on 14.11.2025.
Support:58479/58316/58224/58000/57755/57683/57628.40/57566/57375.80/57363.70/57312.75/57276.55/57049.50/56816/56623.60/56594.25/56204.85/56161.40/56098.70/55957.75/55695/55547.35/55475.45/55149.30/54905.60/54576.60/54467.35/54442.30/54176.45/53888.30/53483.05/53357.70/52794.95/52782.75/52760.20/52577.50/52493.95/52354.85/51979.75/51749.45/51749.45/51693.50/51138.90/51133.20/51000.90/50947.70/50860.20/50841.90/50641.75/50438.30/50382.10/50369.40/50194.30/49974.75/49904.40/49836.10/49787.10/49688.80/49654.65/49459/49300/49162.65/49057.40/48972.55/48906.05/48839.10/48734.35/48636.45/48525.60/48292.25/48203.45/48161.75/48074.05/47898.35/47844.15/47702.90/47363.40/46983.75/46077.85/45828.80/45661.75/44633.85/44429/43600.25/43345.45/43230.95/42582.20/42105.40.
Resistance:58577.50/58615.95/58769/58950/59013/59217/59510/60177.
OVERALL, VIEW: --
It opened on a negative note and thereafter it had both side moves during the day and finally, ended the day with a gain of 135.60 points. It is also important to mention here that it still has earlier unfilled gaps (gap points are 56922.70,55616.45,51361, 51244 & 50496), 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 and it is not a good sign for a steady market.
The technical setup looks strong for the continuation of the up-move. Please note that its immediate key support points are 58271.84---58038---57726.85---57628.40---57554.25---57157.85(figures may change) and if it holds these points on the closing basis then the up-move is likely to extend, but break and sustained close below 58271.84 will push it into short correction mode for its recent rise, break & close below 58038 will be an alert sigh for going down , break & sustained close below the range of 57726.85---57628.40---57554.25 may trigger fresh fall and finally break & sustained close below 57157.85 may witness an accelerated fall.
Moving up the target or resistance points could be at 58577.50--58615.95--58769—58950---59013---59217---59510---60177 (some figures may change) (for complete
resistance points see the table on the upside) 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. It is in the strong long-term uptrend.
TECHNICAL INDICATORS
AND MOVING AVERAGE PLACEMENT;-
POSITIVE
POINTS:-
1. Few
important technical indicator like PS, ADX & ST is in the buy mode, so it may
rally at times.
2. It is above
all its short-term moving averages on the daily, weekly & monthly chart.
3. It is
above all its medium-term moving average on the daily, weekly & monthly
chart.
4. It is
above all its long terms moving average on the daily chart and the top average
is placed at 555(figure will change daily) for the day.
NEGATIVE
POINTS:-
1. Few
important indicators such as MACD, EV & VM is in the sell mode and it is in
the overbought zone and RSI with negative divergence, so down move may happen
at times and it can extend also.
In view of the above there is a good possibility that the up-move can
extend in coming days. But 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 days.
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: - Almost all the important indicators are positive MACD, EV, PS, ST & ADX are in the buy mode, so the up-move may extend, but RSI is showing negative divergence, and VM is in the sell mode and it is in the overbought zone in certain indicators, therefore fall also looks quite likely in coming weeks. But the tilt is on the upside as of now.
MONTHLY CHART:-Few indicators are in the buy mode such as MACD,PS & ADX but it is in the overbought zone and with huge negative divergence in RSI and ST & VM is in the sell mode, therefore, all together indicators are painting a mixed picture now with tilt towards down-side as of now.
IT IS BUY ON DECLINE
MARKET NOW;-
It is buy on decline market till it holds the range of 57628.40---57554.25---57157.85, on the closing basis. But
short trade can also be tried on the reasonable or sharp rise near
critical resistance points or range or on the price breakdown with strict stop
losses, for intraday corrective gains.
STRENGTH: -
1. It is above
its most crucial 1st & 2nd bottom of 57157.85 & 54226.60, if it sustains above, it on the closing basis
then the chances of the up-move will be alive.
2. It is
above its most critical point of 54467.35, please note that it is essential to stay
above this point to keep the up-momentum going in the year-2025, else it
may drift down.
3. It is above its recent correction
threshold point of 58271.94 (figure may change), sustained close above may help it to extend the up-move.
4. It is
above all its short-term moving averages now on the daily chart and the
important average range for day is between 58153---58127--58077---58038---58004---57772(figure will change every day), sustained close above this range can extend the up-move.
5. It is above its major long-term rising trend line which is
placed at 56665 for
the month of November-2025, it is a good sign.
6. It has
higher top & bottom on the on the bar chart, but only higher top on the
line chart.
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. The price action was negative today.
TRADING CALL: --
1.
Long trade can be tried on decline near or within the range of
58382---58275 if
it holds this range for some time
then, with a stop loss of 58000 or
can buy if it moves above 57616 and
maintain for some time then with a stop loss of 58480 for intraday gain,
else avoid.
2. Short
trade can be tried on the rise near or within the range of 58850---58950 with
a stop loss of 59100. 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
Email—suranank@gmail.com
Mobile—8240951127/9831313654.
