56147 in index and 16764 important support for Nifty futures

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- Chart Indication - Ashok Trivedi

The BSE index (close 57521.10 on 24-03-23) is bearish with a rise to 60498.48. Currently, the 12-day average is 58337.64, the 48-day average is 58513.70, and the 200-day average is 59119.77. Daily and weekly MACD are bearish. It shows the positions towards overbought on daily basis, oversold on weekly basis and oversold on monthly basis. Above 57935, 58205, 58419 are important resistance levels. A low of 57084 to 56610, 56147 is possible.

AU Small Finance Bank (closing price Rs.559.90 on 24-03-23) is bearish from a top of 694.70. Currently, the 12-day average is 588.92, the 48-day average is 610.94, and the 200-day average is 620.58. Daily and weekly MACD are bearish. Shows positions towards oversold on daily, weekly as well as monthly basis. Above 576 above 584, 591 are resistance levels. A low of 548 is possible down to 538, 522, 491. Investors should stay away.

HDFC (closing price Rs.2559.90 on 24-03-23) is bearish from a top of 2696.80. Currently 12 day average is 2581.75 and 48 day average is 2619.69 and 200 day average is 2538.31. Daily and weekly MACD are bearish. Overbought on a daily basis, overbought to oversold on a weekly basis and overbought to neutral on a monthly basis. Above 2580 above 2600 resistance level is considered. 2545 below 2527 and 2502 below 2491, 2455, 2423 is possible.

Infosys (closing price Rs.1380.65 on 24-03-23) is bearish from a top of 1672.60. Currently 12 day average is 1412.25 and 48 day average is 1493.55 and 200 day average is 1523.05. Daily and weekly MACD are bearish. Shows oversold positions on daily, weekly as well as monthly basis. Above 1407 above 1417 is the resistance level. If the support of 1340 is broken below 1363, there is a possibility of 1325, 1283, 1238, 1194.

Mariko (closing price Rs.477.20 on 24-03-23) is in favor of softness from a major top of 591.43. Currently 12 day average is 479.35 and 48 day is 492.72 as well as 200 day is 500.87 daily and weekly MACD is bearish. Shows oversold positions on daily, weekly as well as monthly basis. Above 483 above 487 is the resistance level. Below 475 below 450, 445 is an important level.

Reliance (closing price Rs.2003.30 on 24-03-23) is soft from top of 2755. Currently, the 12-day average is 2275.36, the 48-day average is 2362.01, and the 200-day average is 2458.37. Daily and weekly MACD are bearish. Overbought on daily basis, oversold position on weekly as well as monthly basis. Above 2245 above 2264, 2291 resistance levels are considered. 2180 and 2173 are important lows. If broken, it can fluctuate up to 2140, 2075, 2039, 2011, 1946, 1882, 1818.

Voltas (closing price Rs.821.70 on 24-03-23) is soft from a top of 934. Currently, the 12-day average is 863.24, the 48-day average is 857.94, and the 200-day average is 905.44. Oversold on daily basis, towards oversold on weekly basis and neutral position on monthly basis. Above 845 above 857 resistance level is considered. 811, 799, 786 below 816 are important levels.

Bank Nifty Future (close 39383.20 dated 24-03-23) is soft from a top of 41799. Currently, the 12-day average is 4025.51, the 48-day average is 40910.71, and the 200-day average is 40143.19. Daily and weekly MACD are bearish. Shows overbought position on daily basis, oversold position on weekly and monthly basis. Above 39810 above 39930, 40273 resistance level is considered. 39077, 38831 in low, then 38785, 38365 possible.

Nifty futures (closing price 16938.00 on 24-03-23) is bearish from a top of 17863.90. Currently, the 12-day average is 17232.14, the 48-day average is 17607.73, and the 200-day average is 17579.03. Daily and weekly MACD are bearish. Overbought on a daily basis, oversold on a weekly basis and oversold on a monthly basis indicate positions. Above 17120, 17190, 17238 are important resistance levels. If 16866 breaks down, then 16764 is the surface of Rasaksi. Below which possibility up to 16625, 16385, 16150, 16000.

Sayonara

If you are cold, what is in my lap is not in the Himalayas.

- Mehul.

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