CNX-NIFTY
Open—25867.10---High—25923.65---Low---25728--Close---25839.65 on 9.12.2025
Support: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:25856.70/26097.85/26104.20/26246.65/26277.35/26310.45/26318/26335/26357/26365/26404/26448/26497/26549/26590/26650/26678/26694/26842/26995/27001/27095/27212/27293/27375/27510/27824.
OVERALL VIEW
ON THE DAILY CHART:
--
It opened with a down gap and thereafter had both side moves during the day and in the process almost filled the gap of the day and finally, ended the day with a loss of 120.90. It is also 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.
It is still into correction mode for its recent rise, 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, broken short term rising trend line , made lower top & bottom on the line chart, below the neckline point of 26104.40 of the inverse head & shoulder pattern, below all its short term moving averages and few medium term moving average, below its 2nd down trend-line which is placed at 26088 for the day and to top it all volatility is a deep concern, so all together it is giving extremely weak signal. The technical setup got a jolt today and is showing weakness now as it has broken all its recent critical support points and into deep correction mode, so further down slide looks quite possible. Moving down it will find next critical support at 25718---25520---25318.45---25278(figures may change), it may bounce back from any of these points, but break & sustained close below 25318.45---25278 may make the correction more painful time-wise & price-wise both and will threaten the long term uptrend as well.
Moving up the key resistance points could be at 25842.95--25856.54—25870----25915.61----25977------26014.92---26047----26088.07---26104.20----26187.74----26202.95----26206.24---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 if it moves above the range of 25842.95----25856.54—25870 it will give a ray of hope for extending the up-move, if it moves above the range of 25915.61----25977------26014.92---26047----26088.07---26104.20 it may gain some strength and can extend the up-move, if it moves above the range of 26187.74----26202.95----26206.24---26211.85 it will get out of corrective mode and may resume the up-move, if it moves above 26206.24 and sustain on the closing basis then it may retest its all-time high of 26325.80or may go beyond it also but to keep the up-momentum going in the month of December-2025 it has to move above the range 26202.95—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 now into correction mode for its recent rise.
INVERSE HEAD & SHOULDER PATTERN
VISIBLE:- If it is above its neckline of 26104.20
and 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 and then
it will drift down further.
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. It is in the oversold
zone, so it may rally at times but it may not last.
2. It is above all
its long terms moving average on the daily chart and the top average is placed
at 25278(figure will change daily) for the day.
3. It is above all of its short-term moving averages on the
weekly & monthly chart.
4. It is above
almost all its medium-term moving averages on the daily, weekly & monthly
chart.
NEGATIVE POINTS:-
1. Major important
indicators such as MACD,EV, PS,VM & ST are 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.
2. It is below all its
short term moving average on the daily chart and below few on the weekly 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-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 SELL ON THE RISE MARKET NOW;-
It is into
correction mode therefore it is sell on the rise market now till it close above
26104.20 and sustain. But long trade can also
be tried on decline or sharp decline near critical support points or range with
strict stop losses,
for intraday gains.
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 25338(figure will change
and inch up every day) for the day.
5. It is above its major long term downtrend
line which is placed at 25316(figure will
change daily)
for the day, sustained close above it may extend the up-move.
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 26352(figure will change) for the day, break above this could be a highly
positive sign for the up-move.
3. It is still into correction mode
as it is below all of its correction threshold points of 26211.85
---26187.74----26088.07---26014.92----25915.61-----25856.54 (figure may change), sustained close below these points can
pull it down further.
4. It is below all of its
short-term moving averages now on the daily chart and the important average
range for day is between 26084---26047----26033--26030—26017--25977 (figure will change every day), sustained close below this range can drag
it down further.
5. It has made lower top &
bottom on the line & bar chart.
6. It is
below the 2nd downtrend line, which is placed at 26088(figure will change daily)
for the day, it is a weak sign.
7. It is below its inverse head & shoulder neckline of 26104.20 and if it
sustains below it then pattern can fail and it can slide down further.
8. The price
action was negative today.
9. It is below short term rising
trend line which is placed at 25998(figure will change daily) for the day, sustained close
below this line can drag it down further.
TRADING CALL: --
1. Long trade
can be tried on decline near or within
the range of 25790---25740 if it holds
this range for some time then with a stop loss of 25660 for a possible intraday gain,
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 26000---26040
with a stop loss of 26110 or can sell if it remains below 25891
for some time with a stop loss of 25960. 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
