NASDAQ monthly chart technical analysis November 2016 NASDAQ index on last trading session closed at 5105 with huge loss. NASDAQ in month of November breached its major pivot support of 5235 and given fresh sell signal. NASDAQ major downside were 5130 and then 5070 and these are monthly target zones out of which 5130 got achieved. NASDAQ November monthly trend and momentum both are down but technically oversold so expect sharp value buying as well as short covering on lower levels. On upside 5235 remain as major hurdle. Weekly closing above 5235 mean fresh breakout and trend change for this index. Above 5235, NASDAQ will face strong resistances at 5300 and then 5410. These will be target zones on trend reversal. NASDAQ weekly chart showing 4855 is major support zone and above it index will remain bullish and buy from long term view. But current weekly chart price pattern and indicators suggesting NASDAQ most likely to test 4855 level in medium to long terms.