📊 NASDAQ 23rd January 2025 Daily Analysis Based on Main Key Levels

Current Market Overview

The current Daily Current Market Price (DCMP) for NASDAQ is 21,726. This analysis highlights key resistance and support levels, along with actionable trade setups based on technical and fundamental analysis.

Key Levels Summary

Resistance Levels Above DCMP (21,726)

🔺 Resistance 1: 21,772

🔺 Resistance 2: 21,999

🔺 Resistance 3: 22,155

Support Levels Below DCMP (21,726)

🟢 Support 1: 21,536

🟢 Support 2: 20,774

🟢 Support 3: 20,534

Swing Levels

📊 Swing High: 22,143

📊 Swing Low: 20,515

Trade Setups

💼 Intraday Buy Trade Setup

Entry Price: ✨ 21,536

Stop Loss: ❌ 21,500

Take Profit 1: 🎯 21,700

Take Profit 2: 🎯 21,772

Reason for Entry:

The support level at 21,536 is below the DCMP, establishing a solid buying zone. This level aligns with significant technical support, indicating potential for upward movement.

💼 Intraday Sell Trade Setup

Entry Price: ✨ 21,772

Stop Loss: ❌ 21,800

Take Profit 1: 🎯 21,700

Take Profit 2: 🎯 21,999

Reason for Entry:

The resistance level at 21,772 is just above the DCMP, indicating a strong selling zone. This level coincides with key technical resistance, suggesting potential for downward movement.

Analysis Summary

Resistance and Support Levels: Key levels derived from technical analysis indicate potential reversal zones. Resistance levels are identified at 21,772, 21,999, and 22,155, while support levels are at 21,536, 20,774, and 20,534.

Fibonacci Levels: The identified support and resistance zones highlight significant retracement and extension levels, providing potential entry points for trades.

RSI Divergence: RSI indicates potential overbought conditions at resistance levels and oversold conditions at support levels, confirming possible reversals.

MACD Crossing: MACD suggests bullish momentum at support levels and bearish momentum at resistance levels, providing additional confirmation for trade setups.

Conclusion

This analysis provides actionable trade setups and key levels to assist traders in making informed decisions in the NASDAQ market. With the current market price at 21,726, traders can utilize the outlined resistance and support levels, along with technical indicators, to execute trades confidently.