To ease the bullish trade

Chart Hint: Ashok Trivedi

The BSE Index (Closed 7.5 on 9-08-2) is prone to softening from a peak of 7.5. At present, the average for 15 days is 6.15 and for 8 days it is 8.05 and for 200 days it is 304.5. Daily and weekly MACDs are soft. Shows position towards oversold on daily and weekly basis as well as oversold on monthly basis. Above 212, 30, 2110 is considered as resistance level. If the bottom 2 breaks down to 2, the probability is up to 20, 2110, 20, 21500.

Aarti Industries (closing price of Rs. 3.3 dt. 2-06-9) is pro-softening from the top of 1112. At present, the average for 15 days is 7.5 and for 8 days it is 4.5 and for 200 days it is 313.5. Daily and weekly MACD is pro-softening. Shows position towards oversold on daily, weekly as well as monthly basis. Above 6 is considered as 3 above resistance surface. Possibility of 50, 210, 5 below 21 below.

Adani Enterprise (Closed Price Rs. 1912.50 Dt. 3-06-9) is pro-softening from the top of 1905. At present the average for 15 days is 120.8 and for 12 days it is 1213.81 and for 200 days it is 1200.5. Daily and weekly MACDs are soft. Shows oversold on daily and weekly basis as well as neutral position from overboat on monthly basis. Above 12 is considered to be 120 resistance surface. Possibility of 12 down to 1200, 120, 12.

Ashok Leyland (closing price Rs. At present, the 12-day MACD is 14.5 and the 3-day MACD is 120.05 and the 200-day MACD is 15.05. Shows oversold positions on a daily, weekly as well as monthly basis. Above 15 is considered as 12 resistance surface. Possibility of 103, 100, 2 below 115.

HDFC Bank (closing price of Rs. 12.10 on 3-08-2) is prone to softening from the top of 12.5. At present the average for 15 days is 13.50 and for 3 days it is 1208.5 and for 200 days it is 1200.5. Daily and weekly MACDs are soft. Shows oversold on daily basis, oversold on weekly basis and oversold position on monthly basis. Above 12 above 12, 1908 counts as resistance surface. Possibility of 16, 17 below 1204.

LIC (closing price of Rs. 3.30 on 3-08-2) is in favor of softening from the top of 203. At present, the average for 15 days is 4.5 and for 8 days it is 4.5 and for 200 days it is 8.31. Daily and weekly MACDs are soft. Shows oversold positions on daily, weekly as well as monthly basis. Above 6 is considered as 3 above resistance surface. Possibility of 6 down to 210, 4 down.

Reliance (closing price of Rs. 4.5 on 5-08-2) is prone to softening from the top of 8.30. At present the average for 15 days is 21.5 and for 8 days it is 206.5 and for 200 days it is 4.5. Daily and weekly MACDs are soft. Shows oversold positions on daily, weekly as well as monthly basis. Above 6 is considered 60, 70 resistance surface. Possibility of down to 4, down to 6, 2121.

Bank Nifty Futures (closed at 8.10 am on 3-08-2) is pro-softening. At present the average for 15 days is 313.81 and for 21 days it is 21.5 and for 200 days it is 4.5. Daily and weekly MACDs are pro-softening. Shows position towards oversold on daily and weekly basis as well as oversold on monthly basis. Above 20 above 2000, 20, 20 resistance levels are considered. Possibility of down to 5, down to 201, down to 2050, 200, 3112.

Nifty Futures (closed at 12.00 on 7-08-2) is pro-softening from the top of 12. At present, the average for 15 days is 1208.5 and for 13 days it is 18.12 and for 200 days it is 13.5. Shows position towards oversold on daily and weekly basis as well as oversold on monthly basis. Above 12 above 13, 12, 1904 are considered resistance surfaces. Possibility of 12, 120 below, 12050, 120, 1500, 1500.

Sayonara

Now friends, get together, share and drink, Shankar will not come to drink the poison of the world - Jalan Matri