Index 56910 and Nifty Future 17010 important support

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- Chart signal Ashok Trivedi

The BSE Index (closed at 8.30 am on 3-08-2) is in favor of a reactionary correction from the bottom of 20.8. At present, the average for 15 days is 6.5 and for 5 days it is 314.5 and for 200 days it is 303.5. The daily MACD is pro-reform. The weekly MACD is pro-softening. Shows positions from Overboat to Neutral on a daily basis, Overboat on a weekly basis and Overboat to Neutral on a monthly basis. Above 6 is considered 518 important surfaces. If the bottom 510 breaks down to 2, the possibility of up to 200, 50, 50, 2050, 50, caution is required in the new loan.

Biocon (closing price of Rs. 2.50 on 3-08-2) is in favor of reactionary correction from the bottom of 213.10. At present, the average for 15 days is 4.5 and for 8 days it is 4.5 and for 200 days it is 8.50. Daily and weekly MACDs are soft. Overbought on a daily basis, oversold on a weekly basis and oversold on a monthly basis. The following is considered support.

B Soft (closing price Rs. 2.30 dt. 3-06-9) is in favor of reactionary reformation from the bottom of Rs. At present, the average for 15 days is 4.5 and the average for 9 days is 6.15 and the average for 200 days is 6.15. The daily MACD is pro-Dhudhara. The weekly MACD is pro-softening. Shows the position of Overboat on daily basis, Overboat on weekly basis and Oversold on monthly basis. If you jump 3 above, chances are up to 5, 303. The bottom 2 counts as support.

ITC (Closed Price Rs. 4.5 dt. 3-06-9) is in favor of improvement from the bottom of 203. At present the average for 15 days is 31.8 and the average for 9 days is 6.15 and the average for 200 days is 215.15. Daily and weekly MACD is pro-correction. Shows overbought on daily and weekly basis as well as neutral position on monthly basis. Above 60 and 70 are considered important surfaces. The following is considered support.

The Mind Tree (closing price of Rs. 31.8, 5-08-2) is in favor of reactionary correction from the bottom of 8.10. At present the average for 15 days is 206.5 and for 20 days it is 202.5 and for 200 days it is 8.41. The daily MACD is pro-reform. The weekly MACD is pro-softening. Shows the position of overboat on daily and weekly basis as well as oversold on monthly basis. Possibility of up to 5, up to 5, 20. Below 200, below 2030 is considered support.

NTPC (Closed at Rs. 15.5 dated 3-06-2) is in favor of reactionary correction from the bottom of 12.5. At present, the 12-day average is 12.8 and the 9-day average is 12.5 and the 200-day average is 17.05. The daily MACD is pro-correction. The weekly MACD is pro-softening. Shows position towards overboat on daily, weekly as well as monthly basis. Above 120 and 12 are considered important surfaces. The bottom is considered to be 181 support.

Reliance (closing price of Rs. 3.3 dated 3-06-9) is in favor of reactionary improvement from the bottom of 2150. At present, the average for 15 days is 6.5 and for 8 days it is 202.5 and for 200 days it is 8.05. Daily and weekly MACD is pro-correction. Shows overbought on daily and weekly basis as well as neutral position on monthly basis. Above 216, 6, 20, 214, 21 are considered important surfaces. The bottom 20 counts as support.

Bank Nifty Futures (Closed 8.30 dated 6-08-2) is in favor of reactionary correction from the bottom of 31.8. At present, the average for 15 days is 4.5 and for 8 days it is 206.5 and for 200 days it is 3112.5. The daily MACD is pro-reform. Weekly MACD is pro-softening. Overbought to Neutral on a daily basis, Neutral on a weekly basis and Overbought to Neutral on a monthly basis. Above 6, 2, 3 are considered important surfaces. Possibility of down to 617, 20, 2140, 203 below.

Nifty Futures (Closed 1913.8 on 3-04-2) is in favor of reactionary correction from the bottom of 14.5. At present the average for 15 days is 19010.8 and for 120 days it is 120.06 and for 120 days it is 120.05. The daily MACD is pro-reform. The weekly MACD is pro-softening. Overbought on a daily basis from neutral to overbought on a weekly basis, as well as overbought neutral positions on a monthly basis. Above 12 above 120, 12 are considered important surfaces. If 12 breaks below 12010, the probability is up to 12, 12, 120.

Sayonara

The door looks stale, the whole house is locked. - Bharat Vinzuda

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