CNX-NIFTY
Open—25571.15---High—26630.35---Low---25444.30--Close---25471.10 on 13.2.2026
Support:25318.45/25153.65/25079.80/25008.20/24919.90/24918.65/24882.30/24857.75/24854.80/24792.30/24753.15/24694.35/24587.70/24537.60/24502.15/24498.20/24494.45/24473/24462.40/24404.70/24337.50/24226.70/24198.75/24141.80/24099.70/24094.20/24073.90/23938.85/23935.75/23893.70/23873.35/23869.65/23847.45/23816.15/23807.30/23667.20/23664/23644.80/23637.65/23484.15/23537/23426.30/23391.65/23338.70/23263.15/23110.80/23049.95/23047.25/22976.85/22794.70/22786.90/22775.70/22768.40/22676.75/22625.30/22577.40/22546/22525.65/22502/22314.70/22303.80/22281/22165/22124.70/22104.85/21964.60/21875.25/21860.65/21821.05/21777.65/21710.20/21530.20/21448.65/21281.45/21137.20/21021.88/20976.80/20769.50/20291.50/20222.45/19991.85/19839/19333.60.
Resistance:25473.40/25548.70/25669.35/25693.25/25718.20/25726.80/25740.80/25842.95/25891/25057.60/26097.85/26104.20/26129.60/26173.30/26202.60/26236.40/26246.65/26277.35/26325.80/26340/26357/26374/26404/26458/26497/26567/26594/26650/26678/26694/26717/26816/26842/26995/27001/27095/27212/27293/27375/27510/27824.
OVERALL VIEW
ON THE DAILY CHART:
--
It opened with a down gap and thereafter it had both side moves in the lower trajectory during the day and finally, ended the day with a loss of 336.10 points. The gap it created on 12.2.2026 & 9.2.2026 is still there and if it makes an effort to fill this gap in next 4-5 & 1 days respectively which is technically possible then it can come to 25703. 95(U) & 25752.40(D) 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- gap point on the upside 25108.10) 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 got severe jolt today and it may not continue with a sustained up-move for now, it was already into correction mode and today it slipped into deep correction mode again for its recent rise, below its long term rising trend line , broken recent bottom on the line chart, below lots of moving averages on the daily & below some on the weekly chart and most importantly below upper band of the long term moving average, thereby threatening the long term uptrend, so all these developments together are concerning and can drag it down further. But the good thing is that it is above its short term rising trend line and almost all the important technical indicators are positive now, therefore there is a faint chance that it can resume the continued up-move again but it may have relief rally at times, provided moving down if it holds the key support points of 25468----25318.45-----25110---24996.89---24944.80----24857.75----24753.15---24744---24587---24404.70—24337---23935.75---23847.85 (some figures will change daily), on the closing basis then it may extend the up-move. Please note that it is into deep correction mode, therefore break below each point will weaken it, but break & sustained close below 25468 will weaken it further, break & sustained close below25318.45 may trigger fresh fall , break & sustained close below 25110 Will potentially threaten the long term uptrend, break & sustained close below the range of 24996.89---24944.80 may dampen the chances of up-move further, break & sustained close below 24744 can drag it down to 24337 levels and finally break and sustained close below it can drag it down to much lower levels.
Moving up the key resistance points could be at 25622----25631----25646------25693.25----25718.40---25726.30---25740.80----25751----25842.95----25891—--25892.77------25917----25948----25951.82----26013----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 it is into deep corrective mode, but if it moves above the range of 25622----25693.25 and sustain on the closing basis then the long term uptrend threat will dissipate and there will be good chance that the up-move may extend, if it moves above 25751 and sustain on the closing basis then up-move may strengthen and finally moving up further its broad important resistance points are at 25817---25917----25948----26013 and it may correct at any of these points and may resume the up-move or halt it for a while, but if it moves above 26013 and sustain on the closing basis then it is likely that it could retest its all-time high of 26373.20 or may go beyond it. But it is important to mention here that to keep the hope of continued up move alive in the year—2026 it has to move above 26129.60----26173.30 and sustain on the closing basis and to get back into strong up-momentum track in the year—2026 it has to moves above 26325.80 and sustain on the closing basis, else it may start to drift down again. It is in the long term uptrend, but still into correction mode.
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. Almost all the
important indicators such as EV, MACD, PS & VM is in the buy mode and RSI is
neutral now, so it may witness up rally at times and may last too.
3. It is above almost
all of its medium-term moving averages on the weekly & above all on the monthly
chart.
4. It is above its
lower band of all its long terms moving average on the daily chart and the lowest
average is placed at 25110(figure will change daily) for the day.
NEGATIVE POINTS:-
1. It is in neutral/
overbought zone, ST & ADX is in the
sell mode so it may correct at times.
2. It is almost below
all its short term moving averages on the daily & below all on the weekly
chart.
3. It is below all of
its medium term moving average on the daily chart and below few on the weekly chart.
4. It is below upper
band of its all long terms moving average on the daily chart and the top
average is placed at 25622(figure will change daily) for the day. It is a weak
sign.
In view of the above observation there is a mixed
possibility and it can swing both ways but with a slight down-ward--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: - Few important indicators are such as MACD, EV & VM is in the sell mode, RSI is neutral, but 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 PS & ADX, but key indicator such as MACD, ST, & 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 also below important key point, therefore now it will be sell on the rise market now till it moves above 25693.25 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 still majorly all of its most critical 2nd, 3rd, 4th & 5th make or break bottom of 25318.45-----24587.70---24337.50 & 21743.65 sustained close above it will keep the hope alive of resuming the up-move again.
2. It is above its 1st downtrend line, which is placed at 25148(figure will change daily) for the day, it is a positive sign.
3. It is above its short term rising trend line, which is placed at 25205(figure will change every day), it is a positive sign.
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 of its threshold point of 26256.33----26220.53----26212.73----26124.28---26051.13----25951.82---25908.63---25892.77----25777.22 sustained close below these
points can drag it down further.
4. It is below its 2nd downtrend line, which is placed at 26056(figure will change daily) for the day, it is a negative sign.
5. It is below its major
long-term rising trend line which is placed at 25922 for the month of February-2026; sustained close below it may witness an accelerated fall.
6. It is below its major long-term
rising trend drawn from the bottom of 7511
made on 20.3.2020, which is placed
at 25914(figure will change and inch
up every day) for
the day, sustained close below it may drag it down sharply.
7. The price
action was negative today.
8. It is still below all its most critical 1st make or break bottom of 25693.25 sustained close below it can drag it down faster.
9. It is below almost all its
short-term moving averages now on the daily chart and the important average
range for day is 25751---25697----25669—25931---25580---25468
(figure will change every
day), sustained
close below this range may drag it down with an accelerated pace.
10. It has broken its recent
bottom on the line chart today.
TRADING CALL: --
1. Long trade
can be tried on decline near 25444 if
it holds this point for some time then with a stop loss of 25370 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 25600---25650
with a stop loss of 25720 or can sell If it moves below 25444
and maintain for some time, then with a stop loss of 25530. 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
