Index 61911 and Nifty Future 18333 important supports

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- Chart Indication - Ashok Trivedi

The BSE index (close 62501.69 on 26-05-23) is bullish from a low of 61251.70. Currently, the 12-day average is 61735.76, the 48-day average is 61769.95, and the 200-day average is 59624.97. Daily MACD is bearish. The weekly MACD is bullish. Shows overbought on daily and weekly basis as well as neutral position on monthly basis. Possibility of 62530 above 62563, 62770, 63180, 63583. 62000, 61900 support is considered as low.

Balakrishna Industries (closing price Rs.2469.20 on 26-05-23) is bullish from the bottom of 1908.90. Currently, the 12-day average is 2277.22, the 48-day average is 2144.42, and the 200-day average is 2094.96. Daily and weekly MACD are bullish. Shows overbought on daily and weekly basis and neutral position on monthly basis. Above 2494 to 2555, 2618, 2681 possibility. Above which more sangin sudars are seen. Below 2363, 2300 is considered support.

Berger Paint (closing price Rs.647.10 on 26-05-23) is bullish from the bottom of 610.50. Currently, the 12-day average is 627.33, the 48-day average is 606.27, and the 200-day average is 607.56. Daily and weekly MACD are bullish. Shows overbought positions on daily, weekly as well as monthly basis. 649 above 656, 675, 696 possible. 624 below 630 is considered as support.

Bharti Airtel (closing price Rs.817.95 on 26-05-23) is bullish from a bottom of 735.80. Currently, the 12-day average is 800.24, the 48-day average is 783.99, and the 200-day average is 768.78. Daily and weekly MACD are bullish. Shows overbought on daily and weekly basis as well as neutral position on monthly basis. Above 830 possible up to 837, 845, 852, 860. 805 below 813, 795 is considered support.

Cipla (closing price Rs.951.35 on 26-05-23) is bullish from a bottom of 896.85. Currently, the 12 day average is 928.80, the 48 day average is 928.33 and the 200 day average is 982.68. Daily and weekly MACD are bullish. Shows overbought position on daily basis, neutral on weekly basis and oversold position on monthly basis. 953 above 956, 979, 983 possible. 928 is considered support below 935 in the low.

Vedanta (closing price Rs.297.65 on 26-05-23) is in favor of correction from the bottom of 268.50. Currently, the 12-day average is 285.20, the 48-day average is 277.68, and the 200-day average is 263.31. Daily and weekly MACD are bullish. Overbought on daily basis, towards overbought on weekly basis and neutral position on monthly basis. Above 298 above 304 and 316 are important levels. 285 support is considered as low.

Reliance (closing price Rs.2506.50 on 26-05-23) is in favor of bottom-up correction of 2180. Currently, the 12-day average is 2446.94, the 48-day average is 2405.43, and the 200-day average is 2437.31. Daily MACD is bearish. The weekly MACD is bullish. Neutral on a daily basis indicates a position from overbought to neutral on a weekly basis and neutral on a monthly basis. Above 2510 to 2540, 2575, 2611 possible. 2449 support is considered as low.

Bank Nifty Future (close 44070.00 on 26-05-23) is bullish from a low of 38831.50. Currently 12 day average is 43684.26 and 48 day is 42620.34 as well as 200 day is 40960.86 Daily MACD is bearish. The weekly MACD is bullish. Shows overbought positions on daily, weekly as well as monthly basis. Above 44149 possible up to 44250, 44950, 44925, 45270. 43860, 43385 are considered support in low.

Nifty future (close 18570.20 dated 26-05-23) is in favor of correction from the bottom of 18084.05. Currently 12 day average is 18274.45 and 48 day average is 17984.22 and 200 day average is 17701.88. Daily MACD is bearish. The weekly MACD is bullish. Shows overbought on daily and weekly basis as well as neutral position on monthly basis. Above 18590 above 18600 then possibility up to 18740, 18870, 19000. Below 18490, 18419, 18333, 18202 are considered support.

Sayonara

If heaven is not found there, I am not in a hurry to die.

- Irritation.

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