CNX-BANK NIFTY
Open—59672.05---High—59713.15--Low—59030.60---Close—59238.65 on 8.12.2025.
Support:59182/59120/58688.55/58577.50/58469.90/58380.50/57628.40/57594.25/57482.05/57363.70/57157.85/57049.50/56623.60/56594.25/56204.85/56098.70/55821/55695/55547.35/55475.45/55149.30/54905.60/54576.60/54467.35/54226.60/54176.45/53888.30/53561,75/53483.05/53357.70/52794.95/52782.75/52760.20/52577.50/52493.95/52354.85/51979.75/51749.45/51749.45/51693.50/51138.90/51133.20/51000.90/50947.70/50860.20/50841.90/50641.75/50438.30/50382.10/50369.40/50194.30/49974.75/49904.40/49836.10/49787.10/49688.80/49654.65/49459/49300/49162.65/49057.40/48972.55/48906.05/48839.10/48734.35/48636.45/48525.60/48292.25/48203.45/48161.75/48074.05/47898.35/47844.15/47702.90/47363.40/46983.75/46077.85/45828.80/45661.75/44633.85/44429/43600.25/43345.45/43230.95/42582.20/42105.40.
Resistance:59350/59455/59897.50/59918/59932/59969/59998/60033/60114.30/60169/60231/60354/60678/60719/60875/61041/61342/.
OVERALL, VIEW: --
It opened on a negative note and thereafter had both side moves during the day and finally, ended the day with a huge loss of 538.65. 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.
It slipped into correction mode again today, fell below few of its short term moving averages, broken recent bottoms on the line chart, below its key points for the month of December-2025(mentioned below in the important note) which are important to keep the up momentum on and above all the volatility is a deep concern, so all together it is exhibiting weak sign again. But the technical setup still looks o.k. for the continuation of the up-move. Therefore please note that moving down its key support points are at 59101.08-----59038------58925.70---58724.80----58649.50---58567.90---57157.85(figures may change) and as long as it holds these points on the closing basis then the chances of the up-move may be alive, please note that it has slipped into correction mode again, so break and sustained close below the range of 59101.08-----59038------58925.70 may trigger fresh fall, break & sustained close below 58724.80----58649.50---58567.90 will push it into deep correction mode and can drag it down further and finally break & sustained close below 57157.85 may witness an accelerated fall and if it sustains below it the correction could be painful time-wise and price-wise both, which may please be noted.
Moving up the target or resistance points could be at 59307-----59416.58----59460----59627.13----59752.70-----59768.61------59876.58---59897.50---60102.05---60169---60231---60354--60678 (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. Please note that if it moves above the range of 59307-----59416.58----59460 and sustain on the closing basis then it may
extend the up-move, if it moves above the range of 59627.13----59752.70-----59768.61 it will get out of corrective mode
and may resume the up-move, but to keep the up-momentum going in the month of December-2025 it has to move above 59876.58-----59897.50---60102.05 and
sustain on the closing basis, else it may drift down. It is in the strong long-term uptrend but it
is into correction mode now.
IMPORTANT NOTE: - THE IMPORTANT POINTS FOR THE MONTH OF DECEMBER-2025 ARE
59752.70----59897.50 & 60102.05 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;-
POSITIVE
POINTS:-
1. Only two
important technical indicator ADX & ST are in the buy mode, so it may not witness
a lasting up-move.
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 56636(figure will change daily) for the day.
NEGATIVE
POINTS:-
1. Major important indicators such as EV, MACD, PS
& VM are in the sell mode and it is in the overbought zone and RSI is with
negative divergence, so down move may happen at times and can extend also.
2. It is below 4
out of 6 short term moving average on the daily chart.
In view of the above observation there is a mixed possibility and it can swing
both ways but with a downward-bias as of now. Furthermore 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 weeks & months. 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 slightly on the upside as of now.
MONTHLY CHART:-Few indicators are in the buy mode such as MACD,PS,ST & ADX but it is in the overbought zone and with negative divergence in RSI and VM is in the sell mode, therefore, all together indicators are painting a mixed picture now with a slight tilt towards up-side as of now.
IT IS BUY ON DECLINE
MARKET NOW;-
It is buy on decline market till it holds the range 59101.08-----59038------58925 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 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 few of its
correction threshold points of 59101.08------58724.80-----58567.90 (figure may change), sustained close above these points may keep the hope alive for moving up
further.
3. It is
above 2 out of 6 of its short-term moving averages now on the daily chart and
the important average range for day is between 59460---59445--59350---59307---59094---59038(figure will change every day), sustained close above this range can help to extend the up-move, else it
may drift down.
4. It is above its major long-term rising trend line which is
placed at 57258 for
the month of December-2025, it is a good sign.
5. Its major long term rising trend line drawn from the bottom of 16116
made in 2020 is placed at 57681
(figure may change daily) for the day.
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. It is into
correction mode as it is below few of its threshold points of 59768.61----59627.13---59416.58 (figure may change), sustained close below these points can
pull it down.
3. It has decisively broken its short-term rising trend line today and it
is placed at 59718 (figure will change daily)
for 9.12.2025, if it sustains below it then it can slide down
further.
4. It is below top to top rising trend line
now and for 9.12.2025 it is placed at 59563 (figure may change), sustained close below it
is a weak sign and can drag it down.
5. It has broken recent bottoms on the line chart today, which is a very weak sign, but watch for the lower top.
6. The price action was negative today.
TRADING CALL: --
1.
For aggressive traders long trade can be tried on decline near
or within the range of 59067---58950
if it holds this range for some time then,
with a stop loss of 58750 for intraday gain, else avoid. For safe traders
it is suggested that they should try long trade only once it closes above 59897.50
and sustain, else avoid. Please note that long trade
in a corrective market could be a risky affair, but can be tried near critical
support points for intraday gains.
2. Short
trade can be tried on the rise near or within the range of 59580---59680 with
a stop loss of 59800 or can sell if it moves below 58925 and
maintain for some time then with a stop loss of 59150. 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.
