Stocks will see bullish selling and volatility

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- Chart Indication - Ashok Trivedi

BSE index (close 63782.80 on 27-10-23) is soft from a top of 67927.22. Currently, the 12 day average is 6511.50, the 48 day average is 65630.90 and the 200 day average is 63405.27. Daily and weekly MACD are bearish. Daily and weekly shows oversold as well as overbought to neutral position. Above 63914 64440, 64787, 64880 resistance levels are considered. If 63393 falls below 63092, chances are 62840, 62500, 62710, 61900. Keep an eye on war news.

Astral (closing price Rs.1826.95 on 27-10-23) is bearish from the top of 1979.65. Currently 12 day average is 1865.34 and 48 day average is 1897.06 and 200 day average is 1764.74. Daily and weekly MACD are bearish. Oversold on daily and weekly basis as well as overbought to neutral positions on monthly basis. Above 1835 above 1860 resistance level is considered. If 1772 breaks below 1764, then 1724, 1675, 1630, 1587 are possible.

ICICI Bank (closing price Rs.912.75 on 27-10-23) is bearish from a top of 962.05. Currently, the 12-day average is 934.20, the 48-day average is 950.10, and the 200-day average is 920.92. Daily and weekly MACD are bearish. Oversold on daily and weekly basis as well as overbought to neutral position on monthly basis. Above 921 above 934 resistance level is considered. Lows of 899 down to 894, 881, 870 are possible.

JSW Steel (closing price Rs.732.00 on 27-10-23) is in favor of softness from the top of 801. Currently, the 12-day average is 763.58, the 48-day average is 778.99, and the 200-day average is 749.59. Daily and weekly MACD are bearish. Oversold on daily and weekly basis as well as overbought to neutral position on monthly basis. Above 750 above 762 resistance level. A low of 725 to 720, 708, 697 is possible.

Mahendra & Mahendra (closing price Rs.1510.80 on 27-10-23) is soft from the top of 1670. Currently 12 day average is 1555.39 and 48 day average is 1549.82 and 200 day average is 1409.31. Daily and weekly MACD are bearish. Shows oversold positions on daily and weekly basis as well as overbought positions on monthly basis. Above 1535 above 1558 is the resistance level. 1500 below 1495, 1460, 1425 possible.

Oberoi Realty (closing price Rs.1099.00 on 27-10-23) is soft from a top of 1206.90. Currently 12 day average is 1106.92 and 48 day average is 1112.74 and 200 day average is 1015.64. Daily and weekly MACD are bearish. Shows oversold positions on daily and weekly basis as well as overbought positions on monthly basis. Above 1105 above 1120 resistance level is considered. Lower 1050 to 1015, 997 possible.

Reliance (closing price Rs.2265.80 on 27-10-23) is soft from a top of 2621.48. Currently 12 day average is 2296.89 and 48 day average is 2362.76 and 200 day average is 2327.62. Oversold on daily and weekly basis as well as oversold position on monthly basis. Above 2275 above 2282, 2297 resistance levels are considered. If it breaks below 2217 below 2205, it is possible to reach 2175, 2135.

Bank Nifty Future (close 43100.00 on 27-10-23) is bearish from the top of 46500. Currently, the 12-day average is 43649.19, the 48-day average is 44402.17, and the 200-day average is 43352.50. Oversold on daily and weekly basis as well as oversold position on monthly basis. Above 43100, 43350, 43550, 43625 resistance levels are considered. 42730 below 42730 below 42067 is possible to break down to 41700, 41500.

Nifty future (close 19145.00 on 27-10-23) is soft from top of 20270. Currently the 12 day average is 19438.49 and the 48 day average is 19574.71 and the 200 day average is 18867.84. Daily and weekly MACD are bearish. Oversold on daily and weekly basis as well as overbought to neutral position on monthly basis. Above 19160, 19207, 19350, 19400 resistance levels are considered. If 18990 falls below 18840, chances are 18780, 18560, 18450.

Sayonara

Somewhere enemies have moved, somewhere friends have also moved, where nothing was moving, I have moved there. - Khalil Dhantejvi.

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