Soft undertone of the market: Scrip based fluctuations will be seen

-


- Chart Indication - Ashok Trivedi

BSE index (close 64886.51 on 25-08-23) is soft from a top of 67319.17. Currently the 12 day average is 65420.11 and 48 day average is 65049.56 and 200 day average is 62116.82. 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 65106 above 65182, then 65624, 65914 resistance level is considered. Below 64372, below 64670, 64640, 64340, 64040 is possible. Monthly expiry is this week. There will be fluctuations depending on the scrip.

IRCTC (closing price Rs.658.25 on 25-08-23) is in favor of correction from the bottom of 612.38. Currently, the 12-day average is 648.53, the 48-day average is 637.81, and the 200-day average is 640.18. Daily and weekly MACD are bullish. It shows neutral position on daily and weekly basis and overbought position on monthly basis. Above 665 above 678, if possible up to 688, 701, 715. 640 below 648 is considered as support.

L&T Finance (closing price Rs.121.50 on 25-08-23) is bullish from a low of 116.50. Currently, the 12-day average is 124.12, the 48-day average is 122.42, and the 200-day average is 102.95. Daily MACD is bearish. The weekly MACD is bullish. Overbought on a daily basis, oversold on a weekly basis and overbought position on a monthly basis. Above 128 above 133 and 138 can fluctuate up to 142, 151, 160, 170. If 119 breaks below, 116.50 and 113 are considered as support.

Asian Paint (closing price Rs.3259.30 on 25-08-23) is soft from top of 3568. Currently, the 12-day average is 3223.63, the 48-day average is 3274.95, and the 200-day average is 3124.76. Daily and weekly MACD are bearish. Shows neutral on daily basis, oversold on weekly basis and overbought position on monthly basis. 3265 above 3282, 3308, 3334, 3360, 3386, 3412 possible. 3215 below 3170 considered support.

Central Bank (closing price Rs.35.75 on 25-08-23) favors correction from the bottom of 25.95. Currently, the 12-day average is 33.95, the 48-day average is 31.22, and the 200-day average is 27.71. Daily and weekly MACD are bullish. Shows overbought to neutral position on daily basis, overbought position on weekly as well as monthly basis. Above 37 above 39 and 42 are important surfaces. Above which the range of 45 to 53 is considered. 34 is considered as support in the low. In the long term, it can come up to 65 and 80.

Reliance (closing price Rs.2468.35 on 25-08-23) is bearish from a top of 2630.95. Currently 12 day average is 2519.28 and 48 day average is 2454.59 and 200 day average is 2309.05. Daily MACD is bearish. Weekly MACD is bullish. It shows oversold on daily basis, overbought to neutral on weekly basis and overbought position on monthly basis. Above 2520 above 2550, 2574 are important resistance levels. Weakness will be seen below 2420 below 2442.

India Bull Real (closing price Rs.71.55 on 258-08-23) is bullish from the bottom of 58.05. Currently, the 12-day average is 65.36, the 48-day average is 64.92, and the 200-day average is 68.37. Daily MACD is bearish. Weekly MACD favors correction. It indicates neutral position on daily basis, oversold on weekly basis and neutral position on monthly basis. Above 72 and 76 are important surfaces. Above which the range of 88 to 95 is considered. Above which 102 can come around. 63 below 65 is considered as support.

Bank Nifty Future (close 44222.85 on 25-08-23) is soft from the top of 46500. Currently, the 12-day average is 44469.67, the 48-day average is 44629.97, and the 200-day average is 42726.35. Daily and weekly MACD are bearish. Shows oversold position on daily and weekly basis as well as overbought position on monthly basis. Possibility of above 45010, 45505, 45705, 45900. 43854 below 43785 below 43700, 43510, 43313 is possible.

Nifty futures (close 19250.30 on 25-08-23) is bearish from a top of 19981.55. Currently 12 day average is 19463.06 and 48 day average is 19342.16 and 200 day average is 18456.23. 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 19325 above 19375, 19410, 19480, 19503 are considered resistance levels. Below 19218 below 19150, 19070, 18990, 18910, 18822 are possible.

Sayonara

It is only sorrow, whose thirst cannot be quenched, otherwise the ocean of love is never salty. -Shekhadam Abuwala

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