📊 NASDAQ 24th January 2025 Daily Analysis Based on Main Key Levels

Introduction

In the fast-paced world of trading, staying informed is crucial. This blog provides a detailed analysis of NASDAQ, focusing on key support and resistance levels, along with actionable trade setups based on the current market conditions.

Current Market Overview

The current Daily Current Market Price (DCMP) for NASDAQ is 21,851.

Key Levels Summary

Resistance Levels Above DCMP (21,851)

🔺 Resistance 1: 21,772

🔺 Resistance 2: 22,155

🔺 Resistance 3: 22,143

Support Levels Below DCMP (21,851)

🟢 Support 1: 21,153

🟢 Support 2: 20,774

🟢 Support 3: 20,534

Swing Levels

📊 Swing High: 22,143

📊 Swing Low: 20,515

Trade Setup

💼 Intraday Buy Trade Setup

Entry Price: ✨ 21,772

Stop Loss: ❌ 21,600

Take Profit 1: 🎯 21,900

Take Profit 2: 🎯 22,155

Reason for Entry:

The support level at 21,772 is below the DCMP, indicating a strong buying opportunity. This level aligns with significant technical support, suggesting potential upward movement.

💼 Intraday Sell Trade Setup

Entry Price: ✨ 22,155

Stop Loss: ❌ 22,300

Take Profit 1: 🎯 22,000

Take Profit 2: 🎯 21,772

Reason for Entry:

The resistance level at 22,155 is just above the DCMP, providing a viable selling opportunity. This level coincides with key technical resistance, indicating potential downward movement.

Analysis Summary

Resistance and Support Levels: Key levels indicate potential reversal zones. Resistance levels are identified at 21,772, 22,155, and 22,143, while support levels are at 21,153, 20,774, and 20,534.

Swing Levels: The Swing High is at 22,143, and the Swing Low is at 20,515.

Pivot Levels: The pivot level is at 21,153, providing additional context for potential reversals.

Fibonacci Levels: Significant retracement and extension levels align with the identified support and resistance zones.

RSI Divergence: Indicates potential overbought conditions at resistance levels and oversold conditions at support levels.

MACD Crossing: Suggests bullish momentum at support levels and bearish momentum at resistance levels, confirming trade setups.

Conclusion

This analysis equips traders with essential insights and key levels to navigate the NASDAQ market effectively. With the current market price at 21,851, traders can leverage the outlined support and resistance levels, along with technical indicators, to make informed trading decisions. Stay tuned for further updates and analyses!