CNX-BANK NIFTY
Open—59334.35---High—59402.35--Low—59216.75---Close—59299.55 on 23.12.2025.
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 positive note and thereafter had both side moves during the day and finally, ended the day with a meagre loss of 4.45 points. Please note that the gap it created on 22.12.2025 is still there and if it makes an effort to fill this gap in next 3-4 days which is technically possible then it can come down to 59140.55, but if it fails to fill the gap in the stipulated time then the chances of filling the gap will recede for the time being , but please note that one day it will surely fill the gap one day. 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 is still into correction mode, still has lower top & bottom on the line & bar chart, and 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, below few short term moving average, below short term trend-line and above all the volatility is a deep concern. The technical setup is weak a bit but still showing good hope that it may resume the up-move. Therefore please note that moving down if it holds its key support points of 59121----59101.08---59043.48---58925.70---58799.90----58724.80----58649.50---58567.90---57157.85--57055(figures may change) on the closing basis then the chances of the up-move will be alive, but it is already into correction mode , therefore break & sustained close below the range of 59121----59101.08 may trigger fall again, break & sustained close below 59043.48 may dampen the chances of continuation of the up-move, break & sustained close below the range of 58925.70---58799.90----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 & 57055(figure may change) may witness an accelerated fall and if it sustains below these points then the long term uptrend will also be threatened and correction could be more painful time-wise and price-wise both, which may please be noted.
Moving up the target or resistance points could be at 59321---59376---59416.58----59627.13----59752.70-----59768.61------59834---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 59321---59376 and sustain on the closing basis then
it may gain strength and likely to extend the up move, if it moves above the
range of 59416.58----59627.13----59752.70-----59768.61
it will get out of
corrective mode and may resume the up-move and if it moves above 59834
and sustain on the closing basis then it could retest its all-time high of 60114.30
or may go beyond it also. 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. It is in the
neutral/oversold zone and ST & ADX is in the buy mode, so it may rally at
times but that may not last.
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 57055(figure will change daily) for the day.
NEGATIVE
POINTS:-
1. Almost all the important indicators such as MACD, EV, PS, VM & ADX
are in the sell mode and RSI with negative divergence, so down move may happen
at times and it can extend also.
2. It is below
few 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 slight 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 & ADX are in the buy mode, so the up-move may extend, but RSI is showing negative divergence, and VM & ST is in the sell mode and it is in the overbought zone, therefore fall also looks quite likely in coming weeks. So it is giving mixed sign with slight tilt towards 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 SELL ON THE RISE MARKET NOW;-
It is into short term correction mode for its recent rise, therefore it is sell on the rise market now till it close above 59535 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 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 its major long-term rising trend line which is
placed at 57258 for
the month of December-2025, it is a good sign.
4. Its major long term rising trend line drawn from the bottom of 16116
made in 2020 is placed at 57817
(figure may change daily) for the day.
5. It is
above all(except for one) its short-term moving averages now on the daily chart
and the important average range for day is between 59321---59226--59188---59160---59156--59121(figure will change every day), sustained close above this range can help it to extend the up-move.
6. The price action was positive 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. 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 is below top to top rising trend line now and for 24.12.2025
it is placed at 59751
(figure may change), sustained close below it is a weak sign and can
drag it down.
4. It has
lower top & bottom on the line & bar chart.
5. It is below its short-term rising trend line, which is placed at 59376 (figure will change daily) for 24.12.2025,
if it sustains below it then it can extend the down move.
TRADING CALL: --
1.
For aggressive traders long trade can be tried on decline near
or within the range of 59253---59220 if
it holds this range for some time then,
with a stop loss of 59050 for intraday gain else avoid. For safe traders
it is suggested that they should try long trade only once it closes above 59535
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 59450---59500 with
a stop loss of 59650 or can sell if it moves below 59050 and
maintain for some time then with a stop loss of 59240. 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.
