The FTSE 350 ex Investment Trusts Net Tax Index (NMIXNUK) ended today’s trading with a slight loss, navigating a session marked by significant volatility. Despite a powerful late-day rally that erased a large portion of earlier declines, the index ultimately closed in negative territory.
This detailed analysis provides skilled traders with a breakdown of today’s price action and key performance metrics.
Table of Contents
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Today’s Market Snapshot
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Intraday Chart Analysis: A Tale of Two Halves
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Performance in a Broader Context
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Key Technical Levels to Watch
Today’s Market Snapshot
The FTSE 350 ex Investment Trusts Net Tax Index closed at 4,785.51 GBP. This represents a decline of 9.21 points, or -0.19%, for the session. The index finished below its previous closing price of 4,794.72, a level that acted as a key pivot point throughout the day. The data was recorded as of 18:55 GMT+5:30.
Intraday Chart Analysis: A Tale of Two Halves
Today’s trading was a clear example of market volatility. The TradingView chart shows the index experiencing choppy price action for most of the day, with a notable dip in the mid-afternoon where selling pressure intensified.
However, the most significant event was a sharp and aggressive rally in the final hour of trading. This surge saw the index recover from its intraday lows and push back towards its opening levels, indicating strong buying interest into the close. This late momentum significantly mitigated the day’s losses.
Performance in a Broader Context
While the one-day chart reflects a minor loss, looking at the wider performance data provides important context for investors. The index’s underlying trend remains positive over longer horizons:
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5 Days: +0.03% (Essentially flat)
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6 Months: +6.60%
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Year to date (YTD): +7.61%
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1 Year: +7.65%
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5 Years: +41.78%
This data suggests that despite short-term fluctuations, the medium to long-term outlook for the index has been strong, rewarding investors who have held their positions.
Key Technical Levels to Watch
For active traders, the following levels derived from today’s session are critical:
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Key Resistance: The previous close of 4,794.72 proved to be a formidable resistance level that the index failed to sustain a break above.
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Immediate Support: The intraday low, established below the 4,775 mark, now serves as the primary support level. The bounce from this area highlights its importance.
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Momentum Watch: The strong buying momentum seen at the end of the session is the key factor to watch. Traders will be looking to see if this momentum can carry over into the next trading day to challenge the 4,794.72 resistance once again.
