Stocks will see a surge in selling: the undertone is soft

-


- Chart Indication-Ashok Trivedi

The BSE index (close 59463.93 on 24-02-23) is soft from a top of 63583.06. Currently, the 12-day average is 60446.79, the 48-day average is 60597.34, and the 200-day average is 59201.59. Daily and weekly MACD are bearish. Oversold on daily basis, oversold on weekly basis and overbought to neutral position on monthly basis. Above 59910 60105, 60295, 60830 resistance levels are considered. A low of 59325 to 59000, 58699, 58390 is possible.

Ashok Leyland (closing price Rs.141.30 on 24-02-23) is bearish from a top of 156.30. Currently, the 12-day average is 146.98, the 48-day average is 147.58, and the 200-day average is 144.11. Daily and weekly MACD are bearish. Oversold on daily basis, oversold position on weekly as well as monthly basis. Above are 146 resistance levels. A low of 139 is possible down to 135. If it goes down to 135, there is a possibility of 133, 131, 122.

Astral (closing price Rs.1866.85 on 24-02-23) is bearish from a top of 2129.95. Currently 12 day average is 1926.20 and 48 day average is 1982.82 and 200 day average is 2001.23. Daily and weekly MACD are bearish. Shows oversold positions on daily weekly as well as monthly basis. Above 1915 above 1960 is the resistance level. Low 1803, below 1780, 1713 possible.

HDFC AMC (closing price Rs.1815.25 on 24-02-23) is bearish from a top of 2314.65. Currently, the 12-day average is 1860.41 and the 48-day average is 1978.36 and the 200-day average is 2062.65. Daily and weekly MACD are bearish. Daily weekly as well as monthly shows grossly oversold position. Above 1853 above 1885 resistance level is considered. A low of 1763 is possible down to 1734, 1693, 1652.

Larson (closing price Rs.2134.05 on 24-02-23) is bearish from a top of 2297.65. Currently, the 12-day average is 2188.03, the 48-day average is 2151.78, and the 200-day average is 1970.63. Daily and weekly MACD are bearish. Towards oversold on a daily basis. Shows neutral on weekly basis and overbought position on monthly basis. Above 2190 above 2241 resistance level is considered. A low of 2118 is possible down to 2082, 2072.

PVR (closing price Rs.1597.70 on 24-02-23) is bearish from the top of 1771.40. Currently 12 day average is 1659.96 and 48 day average is 1700.24 and 200 day average is 1744.50. Daily and weekly MACD are bearish. Shows oversold positions on daily, weekly as well as monthly basis. Above 1638 above 1658 is the resistance level. Low 1593, below 1533, 1471 possible.

HDFC Life (closing price Rs.482.85 on 24-02-23) is bearish from a top of 620.60. Currently, the 12-day average is 507.71, the 48-day average is 542.74, and the 200-day average is 563.04. Daily and weekly MACD are bearish. Shows oversold positions on daily, weekly as well as monthly basis. Above 501 above 511 resistance level is considered. A low of 473 is possible down to 447, 420.

Bank Nifty Future (close 40145.00 on 24-02-23) is soft from a top of 44248.55. Currently 12 day average is 40960.03 and 48 day is 40719.42 and 200 day is 40106.79. Daily and weekly MACD are bearish. Oversold on a daily basis, to oversold on a weekly basis. Also showing overbought to neutral position on monthly basis. Above 40622 above 40835, 41000 resistance level is considered. 39718 below 39597, 39200 likely.

Nifty futures (closing price 17560.00 on 24-02-23) is bearish from a top of 18998.15. Currently, the 12-day average is 17801.60, the 48-day average is 17961.16, and the 200-day average is 17627.55. Daily and weekly MACD are bearish. Oversold on daily basis, oversold on weekly basis and overbought to neutral on monthly basis. Above 17700, 17770, 17800, 17900 resistance levels are considered. 17461 down to 17320, 17250 possible.

Sayonara

I think love is just a history, first it seems truth then illusion. - uncompromising

Comments

Post a Comment

Popular posts from this blog

Due to the ban, employment and economic activity declined by two to three percent

-
Image
New delhi date. October 7, 2019, Monday A new study has found that employment and economic activity have declined by two to three percent due to the ban. A similar situation has been observed in bank lending. The study found the decline to occur within two months of the notation announced on November 7. This is the first research on demineralization in which data on the effects of districts across India were collected. In addition to the districts, the effect of national level was also studied. Previous studies only examined the national level effect of demonitization. Thus, a full estimate of the overall effect is not known. As a result of the shortage of cash arising out of the blockade, the country's economic activity fell by approximately 8 percent in November-December 2 In the October-December period, bank credit has seen an impact of around two per cent. Cash pulls have impacted demand for a short period. The study found that there was a strong link between money and pro
Read more

Information about soymilk and casein products

-
Image
- Industrial guidance - Dhiru Parekh Soymilk: Soybeans are converted to high-quality protein. So that high quality drinks can be made which can be easily digested. There is no difference between soymilk and cow's milk. So the conservative industries of milk processing are now using this milk to make yogurt and ice cream. Consumers also cannot tell the difference between ice cream made from cow's milk and from soy milk. Also, the production capacity of soy milk can be increased than that of cow's milk. And the price can be cheaper. Soybeans mainly contain two types of enzymes that are inactivated in the soymilk process. Leukoxidase that catalyzes the oxidation of fatty acids. And enzymes like pepsin, trypepsin are included in it. Which helps in digesting protein. Soyamilk powder manufacturing process: This is an electric pre-heater system. which basically allows fluid to flow easily in a stationless tube under low-voltages. which absorbs the energy flowing through the Ja
Read more

The brokerage firm objected to SEBI's new proposal regarding Algo Trading

-
Image
MUMBAI: Brokerage firms and fintech companies have objected to market regulator SEBI's discussion paper considering all stock trading orders issued through Application Programming Interface (API) as separate trading, saying it could adversely affect the growth of such trading from India. Algo trading is considered to be an automatic buying-selling system based on algorithms. SEBI has recently said in a discussion paper that it would create a framework for regulating Algo trading by retail investors. A senior official of a brokerage firm said that monitoring of Algo trading is a need of the hour, but such an attempt could hamper the growth of Sebi Algo trading. He added that if the suggestions made in the SEBI discussion paper were implemented, it would be difficult for brokers to make the API available. About 70% of the daily trading volume in Indian stock markets is transacted through advanced forms of algo trading. Algo Trading came to India in the year 2006, but then only se
Read more