AN ELABORATE TECHNICAL UPDATE ON CNX-BANK NIFTY FOR—28.1.2026

 

CNX-BANK NIFTY

Open—58366.05---High—59436.80--Low—58121.60---Close—59205.45 on 27.1.2026. 

Support:58925.70/58799.90/58712.70/58688.55/58649.50/58577.50/58469.90/58050/57628.40/57594.25/57482.05/57363.70/57157.85/57049.50/56623.60/56594.25/56204.85/56098.70/55821/55695/55547.35/55475.45/55149.30/54905.60/54576.60/54467.35/54226.60/54176.45/53888.30/53561,75/53483.05/53357.70/52794.95/52782.75/52760.20/52577.50/52493.95/52354.85/51979.75/51749.45/51749.45/51693.50/51138.90/51133.20/51000.90/50947.70/50860.20/50841.90/50641.75/50438.30/50382.10/50369.40/50194.30/49974.75/49904.40/49836.10/49787.10/49688.80/49654.65/49459/49300/49162.65/49057.40/48972.55/48906.05/48839.10/48734.35/48636.45/48525.60/48292.25/48203.45/48161.75/48074.05/47898.35/47844.15/47702.90/47363.40/46983.75/46077.85/45828.80/45661.75/44633.85/44429/43600.25/43345.45/43230.95/42582.20/42105.40. 

Resistance:59440.10/59478.15/59545.70/59581.85/59674.80/59806.60/60114.30/60203.75/60231/60354/60473.20/60496/60650/60702/60736/60955/60980/61041/61342/.

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 gain of 732.35 points. It retraced the entire down move of the last trading session, which is positive sign. But 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 is weak, it is still into correction mode, below all the short term moving averages on the daily chart and below few on the weekly chart, below few medium term moving average on the daily chart and almost all the important technical indicators are weak on the daily chart, therefore all together these developments are concerning and can drag it down further. But the good thing is that it bounced back above few critical points and made higher top on the line chart, but yet to make higher bottom, so watch out. However moving down if it manages to holds its critical & key points of 58971.61----58925.70---58814.71----58799.90-----58712.70----58688.11(PTP) ----- 58649.50----57793---57157.85(figures may change) on the closing basis then there will be reasonable chances that it could resume the up-move again. It is already into  correction mode , break & sustained close below 58712.70----58688.11(PTP)  may dampen the chances of up-move and finally break & sustained close below 57793 & 57157.85 (figure may change) may witness an accelerated fall and it will threaten the long term uptrend and then the correction could be more painful time-wise and price-wise both and the possible support points could be at 56910.45---56744.27 and please note that break & sustained close below 56744.27 can drag it down to 55821 levels or below, which may please be noted.

Moving up the target or resistance points could be at 59347.89----59368----59516-----59581.85-------59663.39-----59674.80------59873.94-----59974.16----60015.42----60030.33------60036.21---60114.30-----60203.75---60221----60231---60354—60473.20---60496---60650---60736---60955 (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 59368----59516 and sustain on the closing basis then it may raise hope for extending the up-move further, if it moves above the range of 59581.85-----59674.80 and sustain on the closing basis then it may firm up further for extending the up-move, if it moves above the range of 59873.94-----60015.42----60030.33------60036.21 and sustain on the closing basis then it will be out of corrective mode and may resume the up-move again and if it moves above 60114.30  and sustain on the closing basis then it may get back into good up-momentum track again and may retest its all-time high of 60473.20 or may go beyond it also.  It is in the strong long-term uptrend but still into correction mode despite today’s sharp up-move.

IMPORTANT NOTE: - THE IMPORTANT POINTS FOR THE YEAR--2026 ARE 59581.85---59674.80---60114.30 AND TO KEEP THE HOPE ALIVE FOR A CONTINUED UP-MOVE IT HAS TO SUSTAIN ABOVE 59581.85---59674.80 AND TO GET INTO STRONG UP MOMENTUM IT HAS TO MOVE ABOVE 60114.30  AND SUSTAIN ON THE CLOSING BASIS THROUGH-OUT THE YEAR , ELSE IT MAY START TO DRIFT DOWN.

TECHNICAL INDICATORS AND MOVING AVERAGE PLACEMENT;-

POSITIVE POINTS:-

1. It is above more than half of its short term moving averages on the weekly & above all on the monthly chart.

2. it is above majority of its medium term moving averages on the daily, above all on the weekly& monthly chart.

3. It is above all its long terms moving average on the daily chart and the top average is placed at 57793(figure will change daily) for the day.

4. the technical indicator ST & VM is in the buy mode, and it is the neutral/oversold zone, so it may rally at times but that may not last, so watch out.

NEGATIVE POINTS:-

1. Almost all the important indicators such as EV, MACD, PS & ADX is in the sell mode and RSI with negative divergence , so down move may happen at times and it may extend also.

2. It is below all its short term moving average on the daily & below few on the weekly chart.

3. It is below few of its medium term moving average on the daily chart.

In view of the above observation there is a mixed possibility and it can swing both ways as of now with 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 negative such as MACD, ST, PS, EV & ADX are in the sell mode and RSI is showing negative divergence, it is in the overbought zone, and only VM is in the buy mode, therefore in totality further fall also looks quite likely in coming weeks. But it may swing both ways with a downward bias 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 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 still into correction mode but bounced back above key points, therefore now it will be buy on decline  market now till it sustain above 58712.70----58688.11(PTP  on the closing basis.  But short trade  can also be tried on sharp rise and near critical resistance points or range, for intraday corrective gains.

STRENGTH: -

1. It is above its most crucial 1^st & 2nd bottom of 58712.70 & 57157.85, if it sustains above, it on the closing basis then the chances of the up-move will be alive, else it may correct sharply.

2. It is above its major long-term rising trend line which is placed at 58035 for the month of January-2026, it is a good sign.

3. Its major long term rising trend line drawn from the bottom of 16116 made in 2020 is placed at 58525 (figure may change daily) for the day.

4. It made higher top on the line chart today but yet to make higher bottom, so watch out.

5. It is into correction mode but above few of its correction threshold points of 58971.61-----58814.71 (figure may change), sustained close above these points can keep the hope alive for an extended 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. It is into deep correction mode as it is below all its correction threshold points of 60036.21---60030.33------60015.42-----59663.39----59347.89 (figure may change), sustained close below this range can drag it down further.

3. It is below all its short-term moving averages now on the daily chart and the important average range for day is between 59516---59430--59368---59358---59261---59221(figure will change every day), sustained close below this range can drag it down further.

4. It is below 1^st & 2^nd rising trend line which are placed at 59282 &59530(figure will change every day).

5. The price action was mixed today.

TRADING CALL: -- 

1.

Long trade can be tried on decline near or within the range of 58712---58688 if it hold this range for some time then, with a stop loss of 58500 for 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 59650---59750 with a stop loss of 59900 or can sell if it moves below 58680 and maintain for some time then with a stop loss of 58880.  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.  

 

                        

 

CNX-NIFTY PROBABLE RANGE FOR -28.1.2026

 

CNX-NIFTY

CLOSED ON-27.1.2026: -25175.40

The possible range for the day is between 25255—25097 if it moves above 25255 and sustain then the upside target for the day could be 25333--25411--25489, if it moves above 25489 and sustain then it can sharply move up further. Similarly break below 25097 can pull it down to 25019--24941--24863 it can bounce back from any of these points but sustained break below 24863 may accelerate the fall further.

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

         

   

CNX- BANK NIFTY PROBABLE RANGE FOR -28.1.2026

 

CNX- BANK NIFTY

CLOSED ON—27.1.2026: -59205.45

The possible range for the day is between 59533----58876 if it moves above 59533 and sustains then the upside target for the day could be 59862---60191---60520 if it moves above 60520 and sustain then it can sharply move up further. Similarly break below 58876 can pull it down to 58547---58218---57889 for the day, it can bounce back from any of these points but break below 57889 may accelerate the fall.

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

         

   

 

A BRIEF TECHNICAL UPDATE ON SILVER IN $ DOLLAR TERMS FOR THE WEEK FROM-26.1.2026---30.1.2026

 

SILVER IN $ DOLLAR TERMS

Open—96.95--High---103.38---Low—96.72--Close---103.30 on 9.1.2026. 

All-Time High:-$103.38 made on 23.1.2026. 

It is in the strong long term uptrend now and the overall technical setup looks good for the continuation. Please note that the range for the coming week is between $103.38---90.44, if it moves above $103.38 and sustain on the closing basis then the up-move can extend and it may seek much higher levels, but if it moves below $90.44 and sustain on the closing basis then it will get into corrective mode and may seek lower levels. 

It is important to mention here that moving down as long as it holds $81.86---71.45 on the closing basis then the chances of the up-move will be alive in the year-2026, but break & sustained close below $81.86 will be an alert sign for going down and finally break & sustained close below $71.45 may witness an accelerated fall. 

THE TECHNICAL SETUP IS VERY STRONG AS OF NOW FOR THE CONTINUATION OF THE UP-MOVE AND IT IS IN THE STRONG LONG TERM UPTREND. BUT, FEW IMPORTANT TECHNICAL INDICATORS SPEAKS OTHERWISE, FURTHERMORE IT HAD A VERTICAL RISE THEREFORE FEAR OF VERTICAL FALL IS ALWAYS THERE AND IT MAY GET INTO CORRECTION ANY TIME SOON, SO IT IS SUGGESTED TO BE ALERT, WATCHFUL AND CAUTIOUS IN YOUR TRADE AT THIS POINT OF TIME. PLEASE DO NOT TRADE OR INVEST WITHOUT STOP LOSS. 

NOTE: - It is a technical assessment as of now, the technical interpretation changes with the price movement and time; therefore it has to be reviewed at regular intervals.

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. This is purely for educational purpose only. 

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.

 

Contact me for strategic guidance to enter and exit trade.

 

Thanks 

Narendra Kumar Surana

suranank@gmail.com

Mobile—8240951127/9831313654.

 

A BRIEF TECHNICAL UPDATE ON GOLD IN $ DOLLAR TERMS FOR THE WEEK FROM-26.1.2026---30.1.2026

 

GOLD IN $ DOLLAR TERMS

Open—4958.90--High---4990.66---Low—4900.53--Close---4989.17 on 9.1.2026. 

All-Time High:-$4990.66 made on 23.1.2026. 

It is in the strong long term uptrend now and the overall technical setup looks good for the continuation. Please note that the range for the coming week is between $4990.66---4653.67, if it moves above $4990.66 and sustain on the closing basis then the up-move can extend and it may seek much higher levels, but if it moves below $4653.67 and sustain on the closing basis then it will get into corrective mode and may seek lower levels. 

It is important to mention here that moving down as long as it holds $4549.77---4325.47 on the closing basis then the chances of the up-move will be alive in the year-2026, but break & sustained close below $4549.77 will be an alert sign for going down and finally break & sustained close below $4325.47 may witness an accelerated fall. 

THE TECHNICAL SETUP IS VERY STRONG AS OF NOW FOR THE CONTINUATION OF THE UP-MOVE AND IT IS IN THE STRONG LONG TERM UPTREND. BUT, FEW IMPORTANT TECHNICAL INDICATORS SPEAKS OTHERWISE, FURTHERMORE IT HAD A VERTICAL RISE THEREFORE FEAR OF VERTICAL FALL IS ALWAYS THERE AND IT MAY GET INTO CORRECTION ANY TIME SOON, SO IT IS SUGGESTED TO BE ALERT, WATCHFUL AND CAUTIOUS IN YOUR TRADE AT THIS POINT OF TIME. PLEASE DO NOT TRADE OR INVEST WITHOUT STOP LOSS. 

NOTE: - It is a technical assessment as of now, the technical interpretation changes with the price movement and time; therefore it has to be reviewed at regular intervals.

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. This is purely for educational purpose only.

 

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.

 

Contact me for strategic guidance to enter and exit trade.

 

Thanks 

Narendra Kumar Surana

suranank@gmail.com

Mobile—8240951127/9831313654.

 

A BRIEF TECHNICAL NOTE ON S&P-500 – FOR THE WEEK STARTING FROM—26.1.2026---30.1.2026

 

S&P-500

Open—6909.71--High—6932.96—Low—6895.73—Close—6915.61 on 23.1.2026.

All-Time High:--6986.33 made on 12.1.2026.

The overall technical setup looks good for the continuation of up-move. But it is important to mention here that to keep the strong up-momentum on in the year-2026 it has to move above 6945.77 and sustain on the closing basis and to keep the hope alive for the continuation of the up-move it has to sustain above 6887.01 & 6845.50 on the closing basis, please note that it has already triggered alert point of 6945.77 as it is decisively below it and finally break & sustained close below 6887.01 & 6845.50 will trigger fresh fall and then it may witness an accelerated down move.

Please note that the range for the week is between 6934.75---6789.05 it may oscillate in this range during the week, but breakout on the either side will decide the further direction for it, but please keep the yearly important figures mentioned in the above paragraph in the mind for a broader view.

Although technical setup still looks good for a continued up-move, but few important technical indicators speaks otherwise and indicates that it is in the overbought zone, with negative divergence and certain negative signal therefore it is giving mixed signals at this point of time and can swings both ways at times. The bias is still up but with caution because of technical indicators placement. Last but not the least please keep a watch on the price-action for a potential weakness in it. In view of the above observation it is suggested to be extremely cautious and alert in your trades during the week.

NOTE: - It is a technical assessment of the indices as of now, the technical interpretation changes with the price movement and time; therefore it needs periodic review, which may please be noted. This is for educational purpose.

Disclaimer:-The view expressed here is solely of the author and for educational purpose 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.

                          Contact me for strategic guidance to enter and exit trade.

 Thanks 

Narendra Kumar Surana

suranank@gmail.com

Mobile—8240951127/9831313654.

 

 

A BRIEF TECHNICAL NOTE ON DOW JONES INDUSTRIAL AVERAGE – FOR THE WEEK STARTING FROM—26.1.2026---30.1.2026

 

DOW JONES INDUSTRIAL AVERAGE

Open—49228.14---High—49265.46—Low—48963.05—Close—49098.71 on 23.1.2026.

All-Time High:--49633.35 made on 12.1.2026.

The overall technical setup looks good for the continuation of up-move, but it is made multiple tops in the range of 49607.29----49633.35 in the last few days, therefore if it does not cross this range in a shortest possible time then it may head down and can trigger correction. But it is important to mention here that to keep the strong up-momentum on in the year-2026 it has to sustain above 48883.73 on the closing basis and to keep the hope alive for the continuation of the up-move it has to sustain above 48105.98 & 48063.29 on the closing basis, please note that break & sustained close below 48883.73 will be an alert sign for long trade and finally break & sustained close below 48105.98 & 48063.29 will trigger fresh fall and it may witness an accelerated down move.

Please note that the range for the week is between 49607.24---48428.13 it may oscillate in this range during the week, but breakout on the either side will decide the further direction, but please keep the yearly important figures mentioned in the above paragraph in the mind for a broader view.

Although technical setup still looks good for a continued up-move, but few important technical indicators speaks otherwise and indicates that it is in the overbought zone, with negative divergence and certain negative signal therefore it is giving mixed signals at this point of time and can swings both ways at times. The bias is still up but with caution because of technical indicators placement. Last but not the least please keep a watch on the price-action for a potential weakness in it. In view of the above observation it is suggested to be extremely cautious and alert in your trades during the week.

NOTE: - It is a technical assessment of the indices as of now, the technical interpretation changes with the price movement and time; therefore it needs periodic review, which may please be noted. This is for educational purpose.

Disclaimer:-The view expressed here is solely of the author and for educational purpose 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.

                          Contact me for strategic guidance to enter and exit trade.

 Thanks 

Narendra Kumar Surana

suranank@gmail.com

Mobile—8240951127/9831313654.

 

 

A BRIEF TECHNICAL NOTE ON NASDAQ COMPOSITE – FOR THE WEEK STARTING FROM—26.1.2026---30.1.2026

 

NASDAQ COMPOSITE

Open—23442.72--High—23610.74—Low—23374.26—Close—23501.24 on 23.1.2026.

All-Time High:--24019.99 made on 29.10.2025.

The overall technical setup looks good for the continuation of up-move, but after making an all-time high of 24019.99 on 29.10.2025 it corrected and made a bottom at 21898.29 and thereafter moving in a range of 22692---23813.30 now for quite some time and breakout on the either side will decide the further direction for it. But it is important to mention here that to keep the strong up-momentum on in the year-2026 it has to move above 24019.99 and sustain on the closing basis and to keep the hope alive for the continuation of the up-move it has to sustain above 23481.49 & 23241.94 on the closing basis, please note that it has already triggered alert point of 24019.99  as it is decisively below it and finally break & sustained close below 23481.49 & 23241.94 will trigger fresh fall and it may witness an accelerated down move.

Please note that the range for the week is between 23610.74---22916.83 it may oscillate in this range during the week, but breakout on the either side will decide the further direction for it for the week, but please keep the yearly important figures mentioned in the above paragraph in the mind for a broader view and direction.

Although technical setup still looks o.k. for a an up-move, but few important technical indicators speaks otherwise and indicates that it is in the overbought zone , with negative divergence and certain negative signal therefore it is giving mixed signals at this point of time and can swings both ways at times but with slight downward tilt as of now because of  the technical indicators placement. Therefore last but not the least please keep a watch on the price-action for a potential weakness in it. In view of the above observation it is suggested to be extremely cautious and alert in your trades during the week.

NOTE: - It is a technical assessment of the indices as of now, the technical interpretation changes with the price movement and time; therefore it needs periodic review, which may please be noted. This is for educational purpose.

Disclaimer:-The view expressed here is solely of the author and for educational purpose 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.

                          Contact me for strategic guidance to enter and exit trade.

 Thanks 

Narendra Kumar Surana

suranank@gmail.com

Mobile—8240951127/9831313654.

 

 

AN ELABORATE TECHNICAL UPDATE ON CNX-NIFTY FOR-27.1.2026

 

CNX-NIFTY

Open—25344.60---High—25347.95---Low---25025.30--Close---25048.65 on 23.1.2026

Support: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:25079.80/25153.65/24255.30/25318.45/25448.50/25548.70/25669.35/25693.25/25718.20/25726.80/25740.80/25842.95/25891/25057.60/26097.85/26104.20/26129.60/26173.30/26202.60/26236.40/26246.65/26277.35/26325.80/26340/26357/26374/26404/26458/26497/26567/26594/26650/26678/26694/26717/26816/26842/26995/27001/27095/27212/27293/27375/27510/27824.

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 241.25 points. The gap it created on 19.1.2026 is still there and if it makes an effort to fill this gap in next 1 day which is technically possible then it can come up to 25662.40, 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 on downside are  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.

The technical setup is terribly weak, it is into deep correction mode for its recent rise, below almost all the recent key points, below short term rising trend line, below major long term rising trend line, below all the short term moving average on the daily, weekly and below half  on the monthly chart, below all medium term moving average on the daily chart and few below on the weekly chart and most importantly after a long time it is below almost all of its long term moving averages thereby threatening the long term uptrend, making lower top & bottom on the line and bar chart and almost all the important technical indicators are weak on the daily chart. Therefore all together it is highly concerning and can drag it down further provided it does not bounce back above 25262.80(PTP) ----25318.45---25569 & 25693.259few figure may change) in a shortest possible time and sustain on the closing basis, if it remains below the aforesaid points particularly 25318.45 then the correction could be more painful time-wise & price-wise both. Moving down further it will find next critical support points at 25038---24944.80----24857.75----24744 (figures will change daily)(it broke this range intraday but managed to close above few points), it may bounce back from any of these points, but break & sustained close below 25038 will be a potential threat for the long term uptrend and then it may witness an accelerated fall and break & sustained close below 24944.80 & 24744 can drag it down to 24587 & 24337 levels or below.   

Moving up the key resistance points could be at 25064---25143---25163----25246----25262.80(PTP) ---25269------25318.45----25376----25469---25570---25591-----25620----25662-------25693.25---25718.40---25726.30---25740.80-------25793-----25842.95----25891—--25892.77------25951.82----26051.13-----26104.20----26124.28---26129.60----26173.30---26212.73----26223.88---26246.65----26256.33----26277.35—26325.80---26373.20 (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  25262.80(PTP) ----25318.45 and sustain on the closing basis, then it may give an indication to move up-further, if it moves above 25570 and sustain on the closing basis it may give a ray of hope that it can extend the up-move further, if it moves above the range of 25591-----25662-------25693.25 it will raise good hope for extending the up move, if it moves above 25793 and sustain on the closing basis then it may gain some strength for the up-move extension, if it moves above the range of 26104.20----26124.28---26129.60----26173.30 it will gain good  strength and will be a positive sign for continued up-move, if it moves above the range of 26212.73----26223.88---26246.65----26256.33 and sustain on the closing basis then it will get out of correction mode and may resume the up-move and if it moves above 26277.35 & 26325.80 and sustain on the closing basis then it may get back into strong up-momentum track again, else it may drift down. It is in the strong long-term uptrend, but into deep correction mode now.

IMPORTANT NOTE: - THE IMPORTANT POINTS FOR THE YEAR--2026 ARE 26129.60---26173.30---26325.80 AND TO KEEP THE HOPE ALIVE FOR A CONTINUED UP-MOVE IT HAS TO SUSTAIN ABOVE 26129.60---26173.30 AND TO GET INTO STRONG UP MOMENTUM IT HAS TO MOVE ABOVE 26325.80 AND SUSTAIN ON THE CLOSING BASIS THROUGH-OUT THE YEAR , ELSE IT MAY START TO DRIFT DOWN.

TECHNICAL INDICATORS  AND MOVING AVERAGE PLACEMENT ON THE CHART;-

POSITIVE POINTS:-

1. It is in the neutral/oversold zone and VM & ST is in the buy mode and RSI is with a positive divergence, so it may witness up rally at times, but that may not sustain.

2. It is above only one of its long term moving averages on the daily chart, which is placed at 25038(figure will change daily) for the day.

3. It is above only half of its short term moving averages on the on the monthly chart.

4. It is above few of its medium-term moving averages on the weekly & above all on the monthly chart.

NEGATIVE POINTS:-

1. Almost all the important indicators such as EV, MACD, PS & ADX are in the sell mode, so down move may happen at times and may extend also.

2. It is below all its short term moving average on the daily & weekly chart and below half of the averages on the monthly chart.

3. It is below all its medium term moving average on the daily chart and below few on the weekly chart.

4. It is below almost all of its long term moving average on the daily chart and the averages are placed at 25570---25469---25376---25269---25246---25163—25143---25064(figure will change daily), very weak sign.

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 such as MACD, ST, PS, ADX, EV & VM is in the sell mode, but RSI is with slight positive divergence and it is in the oversold zone, so it may give relief rally at time but that may not last, so overall bias is down as of now.

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 deep correction mode and broken all the key points, therefore now it will be sell on the rise market now till it moves above 25318.45 and sustain on the closing basis.  But long trade can also be tried on sharp decline and near critical support points or range, for intraday gains.

STRENGTH:-

1. It is above its most critical 3rd, 4th & 5^th make or break bottom of 24587.70---24337.50 & 21743.65 sustained close above it will keep the hope alive of resuming the up-move again.

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. To get back into strong up-momentum track it has to move above 26277.35 & 26325.80 and sustain on the closing basis, else it may drift down.

3. It is into deep correction mode now as it is below all its threshold point of 26256.33----26223.88---26220.53----26212.73----26124.28---26051.13---25951.82----25892.77 sustained close below these points can drag it down further.

4. It is below all its short-term moving averages now on the daily chart and the important average range for day is 25793---25656----25620--25488—25453--25360 (figure will change every day), sustained close below this range can drag it down further.

5. It is below its 2nd downtrend line, which is placed at 26064(figure will change daily) for the day, it is a negative sign.

6. It still has lower bottom & top on the line chart & bar chart.

7. It is below its major long-term rising trend line which is placed at 25591 for the month of January-2026; sustained close below it may witness an accelerated fall.

8. It is below its major long-term rising trend drawn from the bottom of 7511 made on 20.3.2020, which is placed at 25662(figure will change and inch up every day) for the day, sustained close below it may witness an accelerated fall.

9. It is below its most critical 1^st & 2^nd make or break bottom of 25693.25---25318.45 sustained close below it can drag it down sharply.

10.  It is below its 1st downtrend line, which is placed at 25196(figure will change daily) for the day, it is a weak sign.

11. The price action was negative today.

TRADING CALL: --

1. Long trade can be tried on decline near or within the range of    25038---24970 if it holds this range for some time then with a stop loss of 24910 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 25250---25300 with a stop loss of 25370 or can sell if it moves below 24910 and maintain for some time, then with a stop loss of 25980. 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