Index 65095 and Nifty Future 19420 important supports

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- Chart Indication-Ashok Trivedi

The BSE index (close 65397.62 on 20-10-23) is bearish after moving up to 66592.16. Currently, the 12-day average is 66032.51, the 48-day average is 65880.69, and the 200-day average is 63369.47. Daily and weekly MACD are bearish. It shows positions from oversold to oversold on daily and weekly basis and from overbought to neutral on monthly basis. Above 65555 above 65395, 66430 read resistance level. If 65308 breaks below 65096, 643878, selling will increase.

Chola Finance (closing price Rs.1188.50 on 20-10-23) is bearish from a top of 1272.90. Currently, the 12-day average is 1226.82, the 48-day average is 1177.91, and the 200-day average is 1012.17. Daily and weekly MACD are bearish. Shows oversold position on daily basis, overbought position on weekly as well as monthly basis. Above 1227 above 1238, 1249 resistance levels are considered. A low of 1184 is possible down to 1178, 1169, 1152, 1135.

Jindal Steel (closing price Rs.662.40 on 20-10-23) is bullish from a top of 722.80. Currently the 12-day average is 686.24, the 48-day average is 677.17 and the 200-day average is 604.97. Daily and weekly MACD are bearish. Shows oversold position on daily and weekly basis as well as overbought position on monthly basis. Above 683, 695 resistance level is considered. 660 down to 653, 640 in low. Possibility of up to 626.

Reliance (closing price Rs.2299.10 on 20-10-23) is bearish from a top of 2621.48. Currently, the 12-day average is 2334.75, the 48-day average is 2381.30, and the 200-day average is 2330.47. Daily and weekly MACD are bearish. Oversold on daily and weekly basis as well as overbought to neutral position on monthly basis. Above 2331 above 2357 is the resistance level. 2295 below 2256. Possibility of up to 2271.

GNFC (closing price Rs.657.10 on 20-10-23) is bullish from the bottom of 507.47. Currently, the 12-day average is 640.93, 48-day average is 605.62, and 200-day average is 574.00. Daily and weekly MACD are bullish. Shows position towards overboard on daily, weekly as well as monthly basis. 679 above 697, possibility of 715 above. 640 below 652 is considered as support.

L&T Finance (closing price Rs.137.85 on 20-10-23) is bullish from a low of 122.25. Currently 12 day average is 134.60 and 48 day average is 129.24 and 200 day average is 111.41. Daily and weekly MACD are bullish. Shows overbought position on daily weekly as well as monthly basis. If above 142 Kudawa, then possibility of up to 152. Fluctuations above 152 to 160, 170 are possible. 133 below 135 is considered as support.

Crompton (closing price Rs.285.60 on 20-10-23) is in favor of softness from the top of 321. Currently, the 12-day average is 300.34, the 48-day average is 300.64, and the 200-day average is 307.31. Daily MACD is bearish. The weekly MACD is bullish. Shows positions towards oversold on daily and weekly basis as well as overbought on monthly basis. Above are 299 resistance levels. Low 281 down to 265 possible.

Bank Nifty futures (close 43743.05 on 20-10-23) is bearish from a top of 46375.90. Currently, the 12 day average is 44368.50, the 48 day average is 44662.69 and the 200 day average is 43367.52. Daily and weekly MACD are bearish. Oversold on daily and weekly basis as well as overbought to neutral position on monthly basis. Above 43885 above 44120, 44275, 44550 above 44704, 44821 are important resistance levels. 43365 below 43622 is an important level.

Nifty futures (close 19523.30 on 20-10-23) are bearish after moving higher to 19884. Currently the 12 day average is 19712.06 and 48 day average is 19645.54 and 200 day average is 18854.59. Daily and weekly MACD are bearish. It shows positions from oversold to oversold on daily and weekly basis and from overbought to neutral on monthly basis. Above 19575 above 19670, 19853, 19884 are important resistance levels. If 19508 breaks below 19420 and 19362, selling will increase.

Sayonara

There is so much gratitude for the plight, whoever I meet is wise.

- Illness.

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