Stock market entering critical phase 21st and 22nd important turning...

- Chart Indication - Ashok Trivedi

The BSE index (close 67838.63 on 15-09-23) is bullish from the bottom of 64732.57. Currently the 12-day average is 66519.15 and the 48-day average is 65561.08 and the 200-day average is 62658.20. Daily and weekly MACD are bullish. Shows overbought positions on daily, weekly as well as monthly basis. 21st and 22nd are the turning days of gain. Above 67928 up to 67980, 68170, 68350, 68530 possible. 67440, 67250, 67150 below 67614 are considered support.

Balakrishna Industries (closing price Rs.2538.85 on 15-09-23) is in favor of correction from the bottom of 2302.60. Currently, the 12-day average is 2411.70, the 48-day average is 2384.76, and the 200-day average is 2247.99. The daily MACD is bullish. Weekly MACD is bearish. Shows neutral on daily and weekly basis as well as overbought position on monthly basis. 2544 above 2547, 2566, 2610, 2672, 2735 possible. 2423 below 2485 is considered support.

Central Bank (closing price Rs.47.10 on 15-09-23) is in favor of correction from the bottom of 22.25. Currently, 12-day is 39 and 48-day is 34.47 and 200-day is 29.13. Daily and weekly MACD are bullish. Shows overbought positions on daily, weekly as well as monthly basis. Possibility of 53, 60, 66 above 48 above. 39 below 44 is considered support.

Jubilant Food (closing price Rs.533.40 on 15-09-23) is bullish from the bottom of 470.50. Currently, the 12-day average is 521.10, the 48-day average is 500.72, and the 200-day average is 498.09. Daily and weekly MACD are bullish. Oversold on daily basis, overbought position on weekly as well as monthly basis. Above 539 above 546, 549 if possible up to 560. A low of 522 below 514 is considered panic support.

Punjab National Bank (closing price Rs.74.15 on 15-09-23) is in favor of correction from the bottom of 43.85. Currently, the 12-day average is 67.98, the 48-day average is 62.85, and the 200-day average is 53.74. Daily and weekly MACD are bullish. Shows overbought positions on daily, weekly as well as monthly basis. Above 75, 79, 83, 88, 92, 97 are important surfaces. 70 and 68 are considered support in the low.

UCO Bank (closing price Rs.40.40 on 15-09-23) is bullish from the bottom of 22.25. Currently, the 12-day average is 34.37, the 48-day average is 31.20, and the 200-day average is 26.61. Daily and weekly MACD are bullish. Shows overbought positions on daily, weekly as well as monthly basis. Possibility of 41 above 47, 53, 60 above. 33 below 36 is considered support.

Wipro (closing price Rs.441.05 on 15-09-23) is in favor of correction from the bottom of 406.45. Currently, the 12 day average is 429.03, the 48 day average is 414.64 and the 200 day average is 406.82. Daily and weekly MACD are bullish. Shows overbought positions on daily, weekly as well as monthly basis. Possibility of 447 above to 464 above. 427 below 435 is considered as support.

Bank Nifty Future (close 46255.30 on 15-09-23) is bullish from a low of 43785.05. Currently, the 12 day average is 45286.91 and the 48 day average is 44821.40 and the 200 day average is 43037.25. The daily MACD is bullish. Weekly MACD is bearish. Shows overbought positions on daily, weekly as well as monthly basis. If above 46376 goes up to 46500 then the possibility is up to 46670, 46840, 47010, 47180, 47350. Below 46150, 45990, 45820, 45650 are considered support.

Nifty future (close 20240.10 dated 15-09-23) is in favor of correction from the bottom of 19218. Currently 12 day average is 19839.12 and 48 day average is 19517.59 and 200 day average is 18626.30. Daily and weekly MACD are bullish. Shows overbought positions on daily, weekly as well as monthly basis. Above 20270 possible up to 20320, 20370, 20410, 20460, 20510, 20550. Below 20200, 20000 support is considered as low.

Sayonara

Don't forgive me with two hearts like that, I myself said that there should be a punishment. - Illness.