Stocks will see a surge in the week of monthly expiry

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- Chart Indication- Ashok Trivedi

The BSE index (close 59655.06 on 21-04-23) is soft from a top of 60486.91. Currently, the 12-day average is 59577.84, the 48-day average is 59454.92, and the 200-day average is 59144.65. The daily MACD is bullish. Weekly MACD is bearish. Oversold on a daily basis, overbought on a weekly basis and oversold on a monthly basis indicate positions. Above 59850, 6060, 60170 are considered resistance levels. 59412 down to 59200, 59000, 58780, 58570, 58150, 58100 possible.

Bata (closing price Rs.1481.30 on 21-04-23) is in favor of correction from the bottom of 1381.05. Currently 12 day average is 1419.05 and 48 day average is 1446.74 and 200 day average is 1613.33. The daily MACD is bullish. Weekly MACD is also bullish. Shows overbought position on daily basis, neutral on weekly basis and oversold position on monthly basis. 1484 above 1494, 1533, 1552 possible. Below 1457, 1440 is considered support.

BHEL (closing price Rs.75.25 on 21-04-23) is bullish from the bottom of 67.60. Currently, the 12-day average is 73.26, the 48-day average is 73.55, and the 200-day average is 69.53. The daily MACD is bullish. Weekly MACD is bearish. Shows overbought on daily basis, neutral on weekly basis and oversold position on monthly basis. Above 77 above 80 is considered important level. If you do, you will see more improvement. 71 support is considered as low.

Bank of Baroda (closing price Rs.176.450 on 21-04-23) is in favor of a correction from the bottom of 155.60, currently 12 day average is 172.32, 48 day average is 168.08 and 200 day average is 152.00. The daily MACD is bullish. Weekly MACD is bearish. Overbought on daily and weekly basis as well as overbought to neutral position on monthly basis. Above 180 above 190 and 197 are considered important levels. If 172 breaks below, then 165 is considered support.

Central Bank (closing price Rs.26.30 on 21-04-23) is in favor of correction from the bottom of 22.25. Currently, the 12-day average is 25.76, the 48-day average is 25.93, and the 200-day average is 24.77. Daily MACD is bullish. Weekly MACD is bearish. Overbought on a daily basis, overbought on a weekly basis and oversold on a monthly basis indicate positions. Above 28 above 31, 34, 42 are considered important surfaces. 25 support is considered as low.

L&T Finance (closing price Rs.87.35 on 21-04-23) is bullish from a low of 78.95. Currently, the 12-day average is 87.08, the 48-day average is 87.23, and the 200-day average is 84.65. The daily MACD is bullish. Weekly MACD is bearish. Overbought on a daily basis, overbought on a weekly basis and a neutral position from overbought on a monthly basis. Above 90, 93, 97, 99 are important levels. 84 support is considered as low.

Reliance (closing price Rs.2349.00 on 21-04-23) is bearish from a top of 2424.95. Currently, the 12 day average is 2333.38 and the 48 day average is 2342.42 and the 200 day average is 2437.84. The daily MACD is bullish. The short-term MACD is bearish. Oversold on daily basis, overbought on weekly basis and oversold position on monthly basis. Above 2367 above 2400 and 2431 are important levels. The next resistance level is 2464. 2308 below 2323 is considered as support.

Bank Nifty futures (close 42125.50 on 21-04-23) is bearish from a top of 42,639.95. Currently, the 12-day average is 41635.26, the 48-day average is 41102.59, and the 200-day average is 40294.54. The daily MACD is bullish. Weekly MACD is bearish. Overbought on daily and weekly basis as well as overbought to neutral position on monthly basis. Above 42170 above 42400, 42640 are considered resistance levels. If 41931 breaks below 41800, then 41680, 41450, 40970, 40735, 40500, 40260, 40020, 39905 are possible.

Nifty futures (closing price 17650.75 on 21-04-23) is bearish from a top of 17889.90. Currently 12 day average is 17627.20 and 48 day average is 17584.21 and 200 day average is 17570.90. The daily MACD is bullish. Weekly MACD is bearish. Oversold on a daily basis, overbought on a semi-weekly basis and oversold on a monthly basis indicate positions. Above 17690, 17725, 17765, 17825 are resistance levels. 17583 down to 17570, 17498, 17440, 17370, 17310, 17250, 17185, 17100 possible.

Sayonara

To remove it, then reached the court, to what extent a ring would move on the finger! - Bhavin Gopani

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