Index 60848 and Nifty Future 18150 important supports

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- Chart Indication : Ashok Trivedi

The BSE index (close 61795.04 on 11-11-22) is bullish from a low of 56147.27. Currently, the 12-day average is 60442.29, the 48-day average is 59100.89, and the 200-day average is 57235.81. Daily and weekly MACD are bullish. Shows overbought positions on daily, weekly as well as monthly basis. Above 61840 yrl 62090, 62250, 62375 is possible, below 61311 60848, 60425 is considered as support. The market is highly overbought.

Devis Lab (closing price Rs.3271.40 on 11-11-22) is bearish from a top of 3903.95. Currently, the 12-day average is 3545.79, the 48-day average is 3621.12, and the 200-day average is 3863.58. The daily and weekly MACD is showing a bearish oversold position on a daily, weekly as well as monthly basis. Above 3531 above 3580 resistance level is considered. Lower 3261 possible to 3195, 2860, 2525. Highly oversold. Selling will be seen on the rise.

GNFC (closing price Rs.602.40 on 11-11-22) is soft from the top of 735. Currently, the 12-day average is 701.90, the 48-day average is 697.20, and the 200-day average is 643.92. Daily and weekly MACD are bearish. Shows overbought to neutral positions on daily, weekly as well as monthly basis. Above 656 above 670 is a resistance level. Lows of 590 to 575, 558, 542, 526 are possible.

Jubilant Food (closing price Rs.563.05 on 11-11-22) is soft from a top of 627.84. Currently, the 12 day average is 593.45, the 48 day average is 599.47 and the 200 day average is 595.30. Daily and weekly MACD are bearish. Oversold on daily and weekly basis as well as overbought to neutral positions on monthly basis. Above 580 above 605 resistance level is considered. A low of 548 to 537, 527, 517, 506, 496, 485 is possible.

Larson (closing price Rs.2011.10 on 11-11-22) is bearish from 2056 top. Currently 12 day average is 1984.16 and 48 day average is 1918.20 and 200 day average is 1785.78. Daily and weekly MACD are bullish. Shows oversold position on daily basis, overbought position on weekly as well as monthly basis. 2056 resistance level is considered above. Lows 1970 to 1959, 1942, 1926, 1910, 1896 possible.

Reliance (closing price Rs.2631.90 on 11-11-22) is bullish from the bottom of 2311. Currently 12 day average is 2545.44 and 48 day average is 2501.88 and 200 day average is 2485.82. Overbought on daily and weekly basis as well as overbought to neutral position on nasal basis. Above 2636 above 2647, 2670 possibility below 2570 below 2557, 2545, 2535 support. 2563 Understood weakness.

Tata Chemicals (closing price Rs.1067.50 on 11-11-22) is soft from a top of 1214.90. Currently 12 day average is 1125.21 and 48 day is 1114.73 as well as 200 day is 994.71 6. Daily and weekly MACD is bearish. Oversold on a daily basis shows an overbought to neutral position on a weekly basis and an overbought position on a monthly basis. Above 1105 above 1117 resistance level is considered. 1066 low, 1049, 1031 break down, 1021, 994 possible.

Bank Nifty Future (close 42295.00 on 11-11-22) is bullish from a low of 37524.55. Currently, the 12 day average is 41341.92, the 48 day average is 40079.85 and the 200 day average is 37714.58. Daily and weekly MACD are bullish. Shows overbought positions on daily, weekly as well as monthly basis. 42440 above 42670, 42940 possible. 42150 below 42053, 41469 below sensing weakness.

Nifty futures (close 18439.90 on 11-11-22) is bullish from a bottom of 16764.25. Currently 12 day average is 18003.61 and 48 day average is 17596.36 and 200 day average is 17070.45. Daily and weekly MACD are bearish. Shows overbought positions on daily, weekly and monthly basis. Above 18440 up to 18470, 18594, 18680, 18770 possible. 18320 below 18150, below 18030 to sense weakness.

Sayonara

If you sit with him for a while, a little will happen, but who will explain to you that medicine does not cure pain. -Aarti Joshi

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