The scrip based fluctuation trend in stocks will continue

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- Chart Indication : Ashok Trivedi

The BSE index (close 59958.03 on 12-01-2023) is soft from a top of 63583.06. Currently, the 12 day average is 60929.31 and the 48 day average is 60929.31. Daily and weekly MACD are bearish. Oversold on a daily and weekly basis and overbought on a monthly basis shows weekly oversold and overbought positions on a monthly basis. Above 60230 above 60290, 60510, 60800, 60900 resistance levels are considered. A low of 59632 to 59400, 58935, 58470 is possible.

Bajaj Fin Serv (closing price Rs.1387.80 on 12-01-2023) is soft from a top of 1817.90. Currently 12 day average is 1478.37 and 48 day average is 1571.80 and 200 day average is 1556.53. Daily and weekly MACD are bearish. Oversold on daily and weekly basis as well as overbought to neutral position on monthly basis. Above 1433, 1458 resistance level is considered. 1379 down to 1362, 1314, 1266 possible.

Bajaj Finance (closing price Rs.5898.40 on 12-01-23) is bullish from a top of 7778. Currently, the 12 day average is 6216.49 and the 48 day average is 6580.13 and the 200 day average is 6720.62. Daily and weekly MACD are bearish. Oversold on daily and weekly basis as well as oversold position on monthly basis.

Central Bank (closing price Rs.30.25 on 12-01-23) is in favor of softness from the top of 41.80. Currently, the 12-day average is 31.57, the 48-day average is 29.31, and the 200-day average is 23.27. Daily MACD is bearish. The weekly MACD is bullish. Oversold on daily basis, towards oversold on weekly basis and neutral position on monthly basis. Above 34 Kudave then 38, 41.80 and 41.80 Kudave can come up to 46, 53, 60,67, 73,80 in long term. 26 is considered support if 28 breaks down in lay-selling.

Chola Finance (closing price Rs.685.60 on 12-01-23) is bearish from a top of 762.30. Currently, the 12 day average is 694.42, the 48 day average is 718.03 and the 200 day average is 701.22. Daily and weekly OMACD is pro-smooth. Oversold on daily and weekly basis as well as oversold position on monthly basis. Above 695 above 695 is considered a resistance level. A low of 658 is possible down to 654, 641, 626.

L&T Finance (closing price Rs.90.95 on 12-01-23) is bullish from a low of 21.40. Currently, the 12-day average is 89.63, the 48-day average is 87.18, and the 200-day average is 81.32. Daily and weekly MACD are bullish. Shows overbought position on daily basis, neutral on weekly basis and overbought position on monthly basis. Above 97, 107, 112, 116, 122 and 122 can be added to 126, 135, 144, 153, 162, 172 in the long run. 87 below 90 is considered support for lay-selling.

Titan (closing price Rs.2446.60 on 12-01-23) is bearish from a top of 2626.25. Currently 12 day average is 2520.04 and 48 day average is 2563.87 and 200 day average is 2465.79. Daily and weekly MACD are bearish. Oversold on daily basis, towards oversold on weekly basis and overbought to neutral position on monthly basis. Above 2488 above 2510 resistance level is considered. 2430 down to 2365, 2304, 2243 possible.

Bank Nifty Future (close 42227.20 dated 12-01-23) is soft from a top of 44248.55. Currently, the 12 day average is 42765.99, the 48 day average is 42538.43 and the 200 day average is 39608.46. Daily and weekly MACD are bearish. Shows oversold position on daily and weekly basis as well as overbought position on monthly basis. Above 42540, 42690, 42900, 43000 are resistance levels. If 41880 breaks below 41640, 41300, 40880 is possible.

Nifty futures (close 17922.00 on 12-01-23) is bearish from a top of 18998.85. Currently 12 day average is 18113.52 and 48 day average is 18192.03 and 200 day average is 17535.85. Daily and weekly MACD are bearish. Shows oversold positions on daily and weekly basis as well as overbought positions on monthly basis. Above 18020 above 18100, 18228, 18333, 18374 resistance levels are considered. 17830 down to 17740, 17617, 17460 possible.

Sayonara

No one asks if it falls on the feet, the people of the world cut the flying kite. -Balubhai Patel

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