61251 in index and 18084 in Nifty futures important support...

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Chart Indication - Ashok Trivedi

The BSE index (close 6172968.19-05-23) is soft from a top of 62562.66. Currently, the 12 day average is 61565.4 60516.26 and the 200 day average is 59510.15. Daily MACD is bearish. The weekly MACD is bullish. Oversold on daily basis, overbought on weekly basis and neutral position on monthly basis. Above 61785 61877, 62230, 62400 resistance levels are considered. 61251 down to 61190, 60850, 60500, 60470, 60160, 59820 possible.

Britinnia (closing price Rs.4494.00 on 19-05-23) is in favor of softness from the top of 4700. Currently, the 12-day average is 4575.63, the 48-day average is 4023.70, and the 200-day average is 4128.00. Daily and weekly MACD are bullish. Shows oversold position on daily basis, overbought position on weekly as well as monthly basis. Above 4563 above 4660 resistance level is considered. A low of 4484 is possible down to 4468, 4430, 4390.

ICICI Bank (closing price Rs.954.30 on 19-05-23) is bullish from the bottom of 796. Currently, the 12-day average is 935.73, the 48-day average is 902.43, and the 200-day average is 863.31. Daily and weekly MACD are bullish. Shows overbought positions on daily, weekly as well as monthly basis. Above 959, 970 resistance surface is considered. If 941 breaks below 934, then 925, 916, 908, 898 are possible.

IGL (closing price Rs.471.65 on 19-05-23) is bearish from a top of 515.70. Currently, the 12-day average is 487.86, the 48-day average is 467.64, and the 200-day average is 426.94. Daily MACD is bearish. Weekly MACD shows bearish oversold on daily basis to overbought on weekly basis to neutral as well as overbought position on monthly basis. Above 488 above 495 is considered a resistance level. Lows of 465 down to 468, 461, 454, 448 are possible.

India Mart (closing price Rs.5588.50 on 19-05-23) is bearish from the top of 6076.27. Currently, the 12-day average is 5773.89, the 48-day average is 5336.55, and the 200-day average is 4911.28. 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 5750 resistance level is considered. A low of 5553 is possible down to 5370, 5182.

ITC (closing price Rs.419.85 on 19-05-23) is bearish from a top of 473.45. Currently, the 12-day average is 422.37, 48-day average is 403.02, and 200-day average is 351.61. Daily MACD is bearish. The weekly MACD is bullish. Shows overbought position on daily weekly as well as monthly basis. 421 resistance surface is considered above. A low of 411 is possible down to 405, 398, 391.

Sun Pharma (closing price Rs.925.85 on 19-05-23) is bullish from a top of 1023.85. Currently, the 12-day average is 952.87, the 48-day average is 972.98, and the 200-day average is 957.06. Daily and weekly MACD are bearish. Shows oversold positions on daily, weekly as well as monthly basis. Above 941, above 950 is considered resistance level. Lows of 922 to 905, possible up to 890.

Bank Nifty Future (close 43990.10 dated 19-05-23) is bullish from a low of 38831.50. Currently 12 day average is 43492.73 and 48 day is 42335.42 as well as 200 day is 40812.47 daily and weekly MACD is bullish. Shows overbought to neutral position on daily basis, overbought position on weekly as well as monthly basis. Above 44114 above 44250 is considered an important level. 43465 in low, 42630 below 43400 is considered important support.

Nifty futures (close 18231.00 on 19-05-23) is bearish from a top of 18473.10. Currently 12 day average is 18224.56 and 48 day average is 17908.89 and 200 day average is 17670.78. Daily MACD is bearish. The weekly MACD is bullish. Oversold on daily basis, overbought on weekly basis and neutral position on monthly basis. Above 18242 above 18272, 18323, 18372, 18435 resistance levels are considered. 18084 to 17970, 17870, 17720 possible in low.

Sayonara

Kem Ho Jeevan Kashaman When I Learned 'Mariz', Wah Re Kismat! That the time of death has come. - Illness

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