Index 59489 and Nifty Future 17640 key supports

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- Chart Indication : Ashok Trivedi

The BSE index (close 59959.85 on 28-10-22) is bullish from a low of 56147.23. Currently, the 12-day average is 59756.83, 48-day average is 58312.82, and 200-day average is 56898.18. Daily and weekly MACD are bullish. Shows overbought positions on daily, weekly as well as monthly basis. 60134 above 60400, 60676 possible. 59739 below 59489 is considered support.

ACC (closing price Rs.2324.45 on 28-10-22) is in favor of correction from the bottom of 205.30. Currently 12 day average is 2286.58 and 48 day average is 2332.24 and 200 day average is 2236.05. Daily and weekly MACD are bearish. It shows neutral position on daily basis, oversold on weekly basis and neutral position on monthly basis. 2330 above and 2350 above 2386, 2427, 2458 possible. 2250 below 2292 is considered as support.

Adani Port (closing price Rs.820.30 on 28-10-22) is bullish from a low of 771.65. Currently, the 12 day average is 809.81, the 48 day average is 826.16 and the 200 day average is 778.34. Daily MACD is bearish. It shows neutral position on daily basis, oversold on weekly basis and neutral position on monthly basis. Above 826 above 835 then the possibility of 839, 852, 866. 799 supports below 812.

Bharat Forge (closing price Rs.831.50 on 28-10-22) is bullish from a bottom of 677.35. Currently, the 12-day average is 782.19, the 48-day average is 752.44, and the 200-day average is 714.21. Shows overbought positions on daily and weekly as well as monthly basis. 839 above 870, 900 possible. 794 is considered support below 806 in the low.

Punjab National Bank (closing price Rs.43.10 on 28-10-22) is in favor of correction from the bottom of 34.25. Currently 12 day average is 39.91 and 48 day is 37.30 as well as 200 day is 35.36 daily and weekly MACD is bullish. Shows overbought position on daily weekly as well as monthly basis. Above 44 above 47, if 50, 52, 55, 58 is possible. Possibility of 70, 97, 125 and 150 in long term. 40 support is considered as low. Tomorrow, Tuesday, November 2nd, the result is there, chaos will be seen.

Tata Steel (closing price Rs.101.60 on 28-10-22) is bullish from the bottom of 95. Currently, the 12-day average is 104.20 and the 48-day is 102.16, as well as the 200-day is 104.85. Daily and weekly MACD is in favor of correction. Overbought on daily basis, neutral position on weekly as well as monthly basis. If above 107 Kudave then 110, 113, 116 is possible. 98 support is considered as low.

Tata Power (closing price Rs.225.05 on 28-10-22) is bullish from a bottom of 210.25. Currently, the 12-day average is 220.41 and the 48-day average is 224.35 and the 200-day average is 219.27. The daily MACD is bullish. Weekly MACD is bearish. Overbought on daily basis, neutral position on weekly as well as monthly basis. Above 227 above 230, if possible up to 236, 242, 251. 220 support is considered as low.

Bank Nifty Future (close 41160.00 on 28-10-22) is bullish from a low of 37524.55. Currently, the 12-day average is 40390.01, the 48-day average is 39409.51, and the 200-day average is 37354.61. Daily and intra-weekly MACD are bullish. Shows overbought positions on daily, weekly as well as monthly basis. Upto 41660 possible. 41015 below 41700 support is considered as low.

Nifty future (close 17837.00 on 28-10-22) is bullish from a bottom of 16764.25. Currently 12 day average is 17493.13 and 48 day average is 17352.37 and 200 day average is 16970.96. Daily and weekly MACD are bearish. Shows overbought positions on daily, weekly and monthly basis. Possibility of 17887 above 17955, 18040, 18123. Below 17773, 17640 is considered support.

Sayonara

'Marys' have seen people suffering many times, even those who have no trouble in the world. - Illness.

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