CNX-NIFTY
Open—26325.80—High—26325.80---Low---26124.20--Close---26175.75 on 1.12.2025
Support:26104.20/26097.85/25856.70/25740.80/25718.20/25669.35/25548.70/25448.35/25318.45/24255.30/25153.65/25079.80/25008.20/24918.65/24882.30/24857.75/24854.80/24792.30/24753.15/24694.35/24587.70/24537.60/24502.15/24498.20/24494.45/24473/24462.40/24404.70/24337.50/24226.70/24198.75/24141.80/24099.70/24094.20/24073.90/23938.85/23935.75/23893.70/23873.35/23869.65/23847.45/23816.15/23807.30/23667.20/23664/23644.80/23637.65/23484.15/23537/23426.30/23391.65/23338.70/23263.15/23110.80/23049.95/23047.25/22976.85/22794.70/22786.90/22775.70/22768.40/22676.75/22625.30/22577.40/22546/22525.65/22502/22314.70/22303.80/22281/22165/22124.70/22104.85/21964.60/21875.25/21860.65/21821.05/21777.65/21710.20/21530.20/21448.65/21281.45/21137.20/21021.88/20976.80/20769.50/20291.50/20222.45/19991.85/19839/19333.60.
Resistance:26246.65/26277.35/26310.45/26318/26335/26357/26365/26404/26448/26497/26549/26590/26650/26678/26694/26842/26995/27001/27095/27212/27293/27375/27510/27824.
OVERALL VIEW
ON THE DAILY CHART:
--
It opened on a positive note and thereafter
had both side moves during the day and finally, ended the day with a loss of 27.20. But it is important to
mention here that it still has earlier unfilled gaps (gap
points on downside are 25715.80,25365.15, 24164, 22923, 22468 & 22254)
also on the downside/upside, 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, this
is not a good sign for a steady market.
Please note that today’s move was almost
like reversal but not copy-book, furthermore it slipped into short correction
mode for its recent rise and also closed below its key points for the month of December-2025(mentioned
below in the important note) and above all the volatility is very
concerning , so all together it is a weak sign. But the technical setup still
looks good for the continuation of the up-move; therefore watch out how it
pans-out in the next 3-4 days. However please note that moving down its
key support points are at 26104.20----26088.07---26020---26014.92---25915.61----25908----25856.54---- (figures may change) and as long as it holds these points on
the closing basis then the chances of extending the up-move will be alive, it
is into correction mode and break and
sustained close below 26104.20 will weaken it further, break & sustained close below the range
of 26088.07---26020 ---26014.92
may deepen correction, break & sustained close
below the range of 25915.61----25908----25856.54
may trigger fresh fall and will push it into deep
correction mode and then it may witness moderate to sharp fall.
Moving up the key resistance points could
be at 26187.74----26202.95----26211.85---26246.65----26277.35—26310.45---26325.80---26328—26405---26492 (some figures may change daily or at some point of time) 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. Please note that to get out
of corrective mode and to keep the up-momentum going in the month of December-2025
it has to move above the range of 26187.74----26202.95----26211.85---26246.65----26277.35—26310.45---26325.80
and sustain on the closing basis, else it may drift
down further. It is in the strong
long-term uptrend, but slipped into correction mode today for its recent rise.
INVERSE HEAD & SHOULDER PATTERN
VISIBLE:- It is above its neckline of 26104.20 and
if it sustains above it on the closing basis then the maximum upside target
could be in the range of 26800-26900 but the up-move can halt or retreat
earlier also. Similarly sustained close below 26104.20 & then below 25718.20
will be a sign of pattern failure.
IMPORTANT
NOTE: - THE IMPORTANT POINTS FOR THE MONTH
OF DECEMBER-2025 ARE 26202.95----26310.45 & 26325.80 AND TO KEEP THE UP
MOMENTUM GOING IN THIS MONTH IT HAS TO SUSTAIN ABOVE THESE POINTS ON THE
CLOSING BASIS, ELSE IT MAY START TO DRIFT DOWN.
TECHNICAL INDICATORS AND MOVING AVERAGE PLACEMENT ON THE CHART;-
POSITIVE POINTS:-
1. Few important
technical indicators are positive now MACD, PS, EV, ST & ADX are in the buy
mode, so it can rally up at times and can have extended up-move.
2. It is above all
its long terms moving average on the daily chart and the top average is placed
at 25196(figure will change daily) for the day.
3. It is above all its short-term moving averages on the daily
and above all on the weekly & monthly chart.
4. It is above all
its medium-term moving averages on the daily, weekly & monthly chart.
NEGATIVE POINTS:-
1. Few important
indicators such as 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.
In view of the
above there
is a possibility that it can swing both ways at time but with a slight tilt
towards upside as of now. But please note that earlier vertical rise, unfilled gaps, negative
divergence and in the overbought zone on weekly & monthly chart is still a
concern, therefore fall cannot be ruled out in the 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-important technical indicators are positive MACD, EV, ST, ADX& PS is in the buy mode but RSI is
with negative divergence and VM is in
the sell mode, and it is in the overbought zone, therefore it may witness corrective
down move at times.
MONTHLY CHART: -Few indicators are in buy mode such as ST,PS & ADX, but key
indicator such as MACD & VM are in
the sell mode, it is in the overbought zone and with negative divergence in RSI.
Therefore, all together indicators are painting a mixed picture now with slight
tilt towards down-side as of now; therefore, further fall in the coming months
cannot be ruled out, so be watchful.
IT
IS BUY ON DECLINE MARKET NOW;-
It is
buy on decline market till it holds25908,
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. Please note that today it slipped into the
correction mode but it is not alarming now; therefore be alert & cautious
in the long trade at this point of time.
STRENGTH:-
1. It is above its major long-term
rising trend line which is placed at 25344 for the month of December-2025; it could be an important & strong support point.
2. It is above its most critical
points of 23637.65 &
23644.80, please note that it must stay above these points to keep up the up
momentum going in the year 2025, else
it will start to drift down.
3. It is above its most critical first
& second make or break bottom of 25318.45 & 24587.70 sustained close above it will keep the
hope alive of resuming the up-move again.
4. It is above its major long-term
rising trend drawn from the bottom of 7511
made on 24.3.2020, which is placed
at 25231(figure will change
and inch up every day) for the day.
5. It is above all of its short-term moving averages now on the daily
chart and the important average range for day is between 26122---26086----26082--26020—25959--25908
(figure will change every
day), sustained
close above this range can help it to extend the up-move further, else it may
drift down.
6. It is above maximum of its correction
threshold point of 26088.07----26014.92---25915.61-----25856.54 (figure may change), sustained close above these
points can help it to extend the up-move.
7. It is above its major long term downtrend
line which is placed at 25322(figure will
change daily)
for the day, sustained close above it may extend the up-move.
8. Its short term rising trend
line is placed at 25809(figure will change daily) for the day, break below it on
the closing basis may accelerate the fall.
9. It is
above the other downtrend line also, which is placed at 26087(figure
will change daily), is a good sign.
10. It is above inverse head & shoulder neckline of 26104.20 and if it sustains above it then it can accelerate the up-move.
11. It has made higher top on the
line & bar chart.
12. The price
action was mixed today.
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. Top
to top rising trend line placed at 26327(figure will change) for the day, break above this could be a highly
positive sign for the up-move.
3. It has slipped into correction
mode today as it has closed below few of its threshold points of 26211.85
---26187.74(figure may change), sustained close below it can
pull it down further.
TRADING CALL: --
1. Long trade
can be tried on decline near or within the range of 26125----26105 if it
holds this range for some time then with a stop loss of 26020 for a possible intraday gain,
else avoid.
2. Short trade can be tried on the rise near or within the range of 26275---26320
with a stop loss of 26370 or can sell if it moves below 26100
and maintain for some time with a stop loss of 26215. 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
Mobile—8240951127/9831313654.
Email--- suranank@gmail.com
