The stocks will now see a downward trend

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- Chart Indication : Ashok Trivedi

The BSE index (close 58098.92 on 23-09-22) is soft from a top of 60676.12. Currently, the 12 day average is 59460.92, the 48 day average is 58288.84 and the 200 day average is 56575.26. Daily MACD is bearish. The weekly MACD is bullish. Shows neutral on daily basis, overbought to neutral on weekly basis and overbought position on monthly basis. Above 58200, 58400, 58600, 58800 are considered resistance levels. 57981 below 57780, 57570, 57367 is likely to break down to 57020, 56400.

Axis Bank (closing price Rs.768.60 on 23-09-22) is showing a slow decline from the top of 816.20. Currently, the 12-day average is 790.27, the 48-day average is 751.69, and the 200-day average is 723.26. Daily and weekly MACD are bullish. Shows positions towards overbought on daily and weekly basis as well as overbought on monthly basis. Above 790 resistance level is considered. A low of 764 is possible down to 757, 752, 745, 740.

HDFC Bank (closing price Rs.1446.15 on 23-09-22) showed a slow decline from the top of 1540.95. Currently 12 day average is 1501.99 and 48 day average is 1463.06 and 200 day average is 1432.96. Daily MACD is bearish. The weekly MACD is bullish. Shows overbought to neutral positions on daily and weekly basis, as well as neutral position on monthly basis. Above 1490 is the resistance level. If 1437 breaks in the low, there is a possibility of 1433, 1406, 1380, 1352.

Hindustan Unilever (closing price Rs.2682.05 on 23-09-22) is bullish from a bottom of 2518.65. Currently 12 day average is 2600.70 and 48 day average is 2558.03 and 200 day average is 2392.78. Daily and weekly MACD are bullish. Overbought on daily basis, towards neutral on weekly basis and overbought position on monthly basis. Above 2724 above 2758, possibility of 2817. 2620 below 2642 is considered as support.

Kotak Mahindra Bank (closing price Rs.1862.70 on 23-09-22) is bearish from the top of 1987.0. Currently 12 day average is 1919.37 and 48 day average is 1871.43 and 200 day average is 1828.12. Daily MACD is bearish. The weekly MACD is bullish. Oversold position on daily basis, overbought position on weekly as well as monthly basis. Above 1897 above 1921 is the resistance level. A low of 1842 is possible down to 1830, 1811, 1786.

Reliance (closing price Rs.2439.50 on 23-09-22) is soft from the top of 2670. Currently, the 12 day average is 2537.73 and the 48 day average is 2554.77 and the 200 day average is 2494.95. Daily and weekly MACD are bearish. Oversold on daily and weekly basis as well as overbought to neutral position on monthly basis above 2474, 2500 resistance level. A low of 2436 is possible down to 2415, 396, 2377, 2357.

Gujarat Gas (closing price Rs.500.35 on 23-09-22) is soft from a top of 533.30. Currently, the 12-day average is 504.99, the 48-day average is 484.75, and the 200-day average is 518.45. Daily and weekly MACD are bullish. It shows neutral on daily basis, overbought on weekly basis and oversold position on monthly basis. Above 508 above 517 is considered a resistance level. A low of 495 is possible down to 492, 484, 475, 467, 459.

Bank Nifty Future (close 39609.10 dated 23-09-22) is bearish from a high of 41855.40, currently 12-day average is 40749.51 and 48-day is 38908.41 and 200-day is 36791.36. Daily MACD is bearish. The weekly MACD is bullish. Shows overbought positions on daily, weekly as well as monthly basis. Above 39925 above 40170, 40410 resistance level is considered. 39477 down to 39440, 39200, 38960, 38720, 38480 possible.

Nifty futures (close 17335.15 on 23-09-22) is soft from a top of 18123.35. Currently, the 12-day average is 17751.19, the 48-day average is 17740.70, and the 200-day average is 16891.90. Daily MACD is bearish. The weekly MACD is bullish. Shows neutral on a daily basis, overbought to neutral on a weekly basis, and overbought positions on a monthly basis. Above 17415, 17470, 17525, 17580 resistance levels are considered. 17291 below 17250, 17210 is likely to break down to 17020, 16840.

Sayonara

It is for this reason that God is hidden, and the people of the world are afraid of him

But there is fear. -Unfortunately

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