Government banks will see reduced support amid market softness

-


- Chart Indication - Ashok Trivedi

The BSE index (close 64948.66 on 18-08-23) is soft from a top of 67319.17. Currently, the 12 day average is 65656.01 and the 48 day average is 65009.91 and the 200 day average is 61954.56. Daily MACD is bearish. The weekly MACD is bullish. Shows oversold position on daily and weekly basis as well as overbought position on monthly basis. Above 65175, above 65370, 65550, 65770 are considered resistance levels. Below 64754, below 64640, 64340, 64050, 63873 are possible.

Punjab National Bank (closing price Rs.62.80 on 18-08-23) is in favor of correction from the bottom of 43.85. Currently, the 12-day average is 61.78, the 48-day average is 58.54, and the 200-day average is 51.12. Daily and weekly MACD are bearish. The weekly MACD is bullish. Shows neutral to overbought positions on daily and weekly basis as well as overbought positions on monthly basis. Above 65.50 to 70, 75, 79, 83 possible. 60 support is considered as low.

Central Bank (closing price Rs.35.10 on 18-08-23) is in favor of correction from the bottom of 25.95. Currently, the 12-day average is 32.29, the 48-day average is 30.31, and the 200-day average is 27.33. Daily and weekly MACD are bullish. Shows overbought position on daily basis, neutral on weekly basis, and overbought position on monthly basis. Above 36.35 above 39.42 is considered an important level. Above which the range of 45 to 53 is considered. Support counts 32.

UCO Bank (closing price Rs.31.20 on 18-08-23) is bullish from the bottom of 22.25. Currently 12 day average is 28.90 and 48 day average is 2814 and 200 day average is 25.13. Daily and weekly MACD are bullish. Overbought on daily basis, neutral position on weekly as well as monthly basis. Above 31.75, 34, 38.15 are important levels. Above which the range of 40 to 47 is considered. 28 support is considered below.

India Bull Housing (closing price Rs.156.50 on 18-08-23) is bullish from a low of 91.80. Currently 12 day average is 157.65 and 48 day average is 136.72 and 200 day average is 126.59. Daily and weekly MACD is bullish. Daily shows neutral, weekly as well as monthly shows overbought position. Above 174 Kudav, 187, 200 possibility. Below 145, 138 is considered support.

Reliance (closing price Rs.2556.80 on 18-08-23) is bearish from a top of 2630.95. Currently 12 day average is 2536.21 and 48 day average is 2449.02 and 200 day average is 2306.66. Daily MACD is bearish. The weekly MACD is bullish. Shows overbought to neutral positions on daily and weekly basis as well as overbought position on monthly basis. Above 2578 above 2583, then 2590, 2630 are considered important levels. If 2468 breaks below 2500, then 2420 is considered as support.

Bank Nifty Future (close 43964.70 on 18-08-23) is soft from the top of 46500. Currently, the 12 day average is 44688.09, the 48 day average is 44715.11 and the 200 day average is 42648.11. Daily and weekly MACD are bearish. Shows oversold positions on daily and weekly basis as well as overbought positions on monthly basis. Above 44310 above 44570, 44680 are considered resistance levels. A low of 44785 to 43710, 43510, 43313 is possible.

Nifty futures (close 19331.50 on 18-08-23) is bearish from a top of 19981.55. Currently 12 day average is 19553.69 and 48 day average is 19331.06 and 200 day average is 18408.40. Daily MACD is bearish. The weekly MACD is bullish. Shows oversold positions on daily and weekly basis as well as overbought positions on monthly basis. Above 19380 above 19410, 19490, 19570 resistance levels are considered. 19270 down to 19240, 19160, 19075, 18990, 18940 possible.

Sayonara

I will fight anger with great courage, but if I fight wrongly, save me. -Anjana Goswami 'Anjum Anand'

Comments

Post a Comment

Popular posts from this blog

Due to the ban, employment and economic activity declined by two to three percent

-
Image
New delhi date. October 7, 2019, Monday A new study has found that employment and economic activity have declined by two to three percent due to the ban. A similar situation has been observed in bank lending. The study found the decline to occur within two months of the notation announced on November 7. This is the first research on demineralization in which data on the effects of districts across India were collected. In addition to the districts, the effect of national level was also studied. Previous studies only examined the national level effect of demonitization. Thus, a full estimate of the overall effect is not known. As a result of the shortage of cash arising out of the blockade, the country's economic activity fell by approximately 8 percent in November-December 2 In the October-December period, bank credit has seen an impact of around two per cent. Cash pulls have impacted demand for a short period. The study found that there was a strong link between money and pro
Read more

Information about soymilk and casein products

-
Image
- Industrial guidance - Dhiru Parekh Soymilk: Soybeans are converted to high-quality protein. So that high quality drinks can be made which can be easily digested. There is no difference between soymilk and cow's milk. So the conservative industries of milk processing are now using this milk to make yogurt and ice cream. Consumers also cannot tell the difference between ice cream made from cow's milk and from soy milk. Also, the production capacity of soy milk can be increased than that of cow's milk. And the price can be cheaper. Soybeans mainly contain two types of enzymes that are inactivated in the soymilk process. Leukoxidase that catalyzes the oxidation of fatty acids. And enzymes like pepsin, trypepsin are included in it. Which helps in digesting protein. Soyamilk powder manufacturing process: This is an electric pre-heater system. which basically allows fluid to flow easily in a stationless tube under low-voltages. which absorbs the energy flowing through the Ja
Read more

The brokerage firm objected to SEBI's new proposal regarding Algo Trading

-
Image
MUMBAI: Brokerage firms and fintech companies have objected to market regulator SEBI's discussion paper considering all stock trading orders issued through Application Programming Interface (API) as separate trading, saying it could adversely affect the growth of such trading from India. Algo trading is considered to be an automatic buying-selling system based on algorithms. SEBI has recently said in a discussion paper that it would create a framework for regulating Algo trading by retail investors. A senior official of a brokerage firm said that monitoring of Algo trading is a need of the hour, but such an attempt could hamper the growth of Sebi Algo trading. He added that if the suggestions made in the SEBI discussion paper were implemented, it would be difficult for brokers to make the API available. About 70% of the daily trading volume in Indian stock markets is transacted through advanced forms of algo trading. Algo Trading came to India in the year 2006, but then only se
Read more