Index 61337 and Nifty Future 18345 key supports

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- Chart Indication : Ashok Trivedi

The BSE index (close 61663.48 on 18-11-22) is bullish from a low of 56147.27. Currently, the 12 day average is 61218.27 and the 48 day average is 59609.85 and the 200 day average is 57458.67. Daily and weekly MACD are bullish. Shows overbought positions on daily, weekly as well as monthly basis. Above 61690, above 62052 resistance surface, possibility of up to 62250, 62375, below, possibility of up to 61337, 60940, 60570, 60200, 59840, 59470.

Bajaj Auto (closing price Rs.3632.95 on 18-11-22) is soft from a top of 3818.65. Currently, the 12-day average is 3724.56, the 48-day average is 3722.51, and the 200-day average is 3679.18. The daily MACD is bullish. The weekly MACD is bullish. Neutral on daily basis, oversold position on weekly as well as monthly basis. Above 3710 resistance level is considered. Lows of 3621 down to 3595, 3572, 3550 are possible.

IDFC (closing price Rs.77.75 on 18-11-22) is bearish from a top of 82.45. Currently, the 12-day average is 78.55, the 48-day average is 73.58, and the 200-day average is 62.70. Daily MACD is bearish. The weekly MACD is bullish. Oversold position on daily basis, overbought position on weekly as well as monthly basis. Above are 81 resistance levels. 75 and 73 are important lows.

IDFC First Bank (closing price Rs.55.85 on 18-11-22) is bearish from a top of 59.45. Currently, the 12-day average is 56.87, the 48-day average is 53.54, and the 200-day average is 46.45. Daily MACD is bearish. The weekly MACD is bullish. Shows oversold position on daily basis, overbought position on weekly as well as monthly basis. 58 prikar surfaces are counted above. 54 and 52 are important lows.

Mahendra & Mahendra (closing price Rs.1227.15 on 18-11-22) is soft from a top of 1366.55. Currently 12 day average is 1295.70 and 48 day average is 1276.58 and 200 day average is 1107.45. Daily and weekly MACD are 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 1274 above 1285 resistance level is considered. 1196 below 1217 is considered an important level. Below which more softness is seen.

Mariko Ltd. (closing price Rs.486.10 on 18-11-22) is bearish from a top of 554.35. Currently, the 12 day average is 504.86, the 48 day average is 515.79 and the 200 day average is 511.401. Daily and weekly MACD are bearish. Oversold on daily basis, oversold position on weekly as well as monthly basis. 502 resistance surface is considered above. Below 482, 471 and 450 are important levels.

Titan (closing price Rs.2565.80 on 18-11-22) is soft from top of 2791. Currently 12 day average is 2663.36 and 48 day average is 2630.72 and 200 day average is 2421.58. Daily MACD is bearish. The weekly MACD is bullish. Shows oversold position on daily basis, overbought position on weekly as well as monthly basis. Above 2608 above 2670 resistance level is considered. 2545 down to 2547, 2486, 2426 possible.

Bank Nifty Future (close 42505.30 on 18-11-22) is bullish from a low of 37524.55. Currently, the 12 day average is 41967.12, 48 day average is 40521.01 and 200 day average is 37944.06. Daily and weekly MACD are bullish. Shows overbought positions on daily, weekly as well as monthly basis. Above 42666 to 42940 possible. Lower 42293 likely to 42020, 41700, 41380, 41060, 40740.

Nifty future (close 18345.00 on 18-11-22) is bullish from a bottom of 16764.25. Currently 12 day average is 18238.28 and 48 day average is 17751.08 and 200 day average is 17136.23. Daily and weekly MACD are bearish. Shows overbought positions on daily, weekly and monthly basis. Above 18386 Kudave, 18440, 18493 resistance level is considered. The possibility up to 18594. 18255 down to 18170, 18060, 17950, 17840, 17730 possible.

Sayonara

It is clumsy to dance as fate dances, we have played the line of fate in the palm of our hands. -Harish Thakkar

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