Index 66200 and Nifty Future 19600 important support levels

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The BSE index (close 66684.26 on 21-07-23) is bullish from a low of 62867.53. Currently, the 12 day average is 66110.38, 48 day average is 63976.56 and 200 day average is 61125.69. Daily and weekly MACD are bullish. Shows overbought position on daily, weekly as well as monthly basis. If above 67191 goes up to 67620 then possibility of up to 68050. Lows below 66533 and 66200 to sense weakness. The monthly expiry is this week. Last week also said the market is in a risky phase.

Bank of India (closing price Rs.84.45 on 21-07-23) is bullish from a bottom of 69.50. Currently, the 12-day average is 78.34, the 48-day average is 75.80, and the 200-day average is 71.72. Daily and weekly MACD are bullish. Overbought on daily and weekly basis as well as overbought to neutral position on monthly basis. Above 87 Kudav, 93 and 101 are considered important levels. Above which can fluctuate up to 104, 115, 126 135. 79 is considered support below 81 in the low.

Kotak Mahendra Bank (closing price Rs.1970.20 dated 21-07-23) is bullish from the bottom of 1815.30. Currently 12 day average is 1889.90 and 48 day average is 1877.23 and 200 day average is 1846.89. Daily and weekly MACD are bullish. Overbought position on daily basis, neutral on weekly basis and overbought position on monthly basis. Above 1988 above 1998 can fluctuate up to 2019, 2057, 2096. Below 1940, 1900 is considered support.

Emphasis (closing price Rs.2330.85 on 21-07-23) is bullish from the bottom of 1760.06. Currently, the 12 day average is 2032.43 and the 48 day average is 1906.77 and the 200 day average is 1965.93. Daily and weekly MACD are bullish. Shows overbought on daily and weekly basis as well as neutral position on monthly basis. Above 2355, 2400 possible. Below 2270, 2160, 2150 is considered support. A fresh take is not necessary.

Tech Mahendra (closing price Rs.1195.10 on 21-07-23) is in favor of correction from the bottom of 1060.10. Currently, the 12-day average is 1203.55, the 48-day average is 1135.54, and the 200-day average is 1094.56. Daily and weekly MACD are bullish. Shows overbought positions on daily, weekly as well as monthly basis. Above 1217 above 1270, 1276, if possible up to 1315, 1345. Perceived weakness below 1175 in lows.

Union Bank (closing price Rs.90.35 on 21-07-23) is bullish from a bottom of 68. Currently, the 12-day average is 81.57, the 48-day average is 75.61, and the 200-day average is 68.05. Daily and weekly MACD are bullish. Shows overbought on daily and weekly basis as well as neutral position on monthly basis. Above 92 above 97 if possible up to 108, 118, 128. 83 below 87 is considered support.

Wipro (closing price Rs.404.70 on 21-07-23) is bullish from a bottom of 377.10. Currently, the 12-day average is 405.14, the 48-day average is 394.35, and the 200-day average is 402.20. Daily and weekly MACD are bullish. Shows overbought positions on daily, weekly as well as monthly basis. Above 417 above 425, if possible up to 447, 470. 394 and 387 can be considered as 400 support in the low. Under which to understand weakness.

Bank Nifty Future (close 46170.30 on 21-07-23) is bullish from a low of 43313.30. Currently, the 12-day average is 45273.64, the 48-day average is 44323.38, and the 200-day average is 42124.61. Daily and weekly MACD are bullish. Shows overbought positions on daily, weekly as well as monthly basis. Above 46360 to 46620, 46960 possible. Understanding weakness below 45670, 45400 in low.

Nifty future (close 19806.55 on 21-07-23) is bullish from a bottom of 18665. Currently 12 day average is 19601.96 and 48 day average is 18991.30 and 200 day average is 18152.97. Daily and weekly MACD are bullish. Shows overbought positions on daily, weekly as well as monthly basis. Above 19915 above 19982 resistance level is considered. On top of which the possibility till 2070. If it breaks below 19730 below 19600, then weakness will be understood.

Sayonara

How can you measure my talent without coming close, the luster is in the pearl of the sea, not in the sea. -Nazir Bhatri.

- Chart Indication - Ashok Trivedi

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