Index 69900 and Nifty Future 21000 key supports...

-


- Chart Indication - Ashok Trivedi

The BSE index (close 71106.96 on 22-12-23) is bullish from a low of 63092.98. Currently, the 12 day average is 70161.73, the 48 day average is 67682.17 and the 200 day average is 64675.71. Daily and weekly MACD are bullish. Shows positions towards overbought on daily and weekly basis as well as overbought on monthly basis. Above 71259 above, if it goes up to 72000, 72670, 73350. If 69900 breaks below 69100, weakness will increase. There seems to be ample possibility of a correction in the market.

Crompton (closing price Rs.301.80 on 22-12-23) is bullish from a bottom of 275.30. Currently, the 12-day average is 294.89, the 48-day average is 292.14, and the 200-day average is 299.28. It shows neutral position on daily and weekly basis as well as oversold position on monthly basis. Above 308 above 312 and 320, the long-term trend will favor correction. 328 above 328, 345 possible. 288 below 296 is counted as support.

IOB (closing price Rs.42.95 on 22-12-23) has seen profitable selling above 47.50. Currently, the 12-day average is 43.38, the 48-day average is 41.28, and the 200-day average is 33.78. The daily MACD is bullish. Weekly MACD is bearish. Shows positions from overbought to neutral on daily basis, neutral on weekly basis and overbought to neutral on monthly basis. Above 47.50, 51 is an important level. Above which 56, 67, 85 can come in the long term. 38 support is considered below 40.75 in low.

Punjab National Bank (closing price Rs.89.25 on 22-12-23) 92 has seen profitable selling. Currently, the 12-day average is 88.02, 48-day average is 84.93, and 200-day average is 66.20. Daily and weekly MACD are bullish. Shows overbought to neutral position on daily basis, overbought position on weekly as well as monthly basis. Above 92 above 97, if 100, 112, 124, 37, 150, 161, 174, 180 can be reached in the long term. 80 and 78 below 84.75 are considered support.

Reliance (closing price Rs.2565.05 on 22-12-23) is bullish from a bottom of 2220.30. Currently 12 day average is 2490.43 and 48 day average is 2413.38 and 200 day average is 2351.20. Daily and weekly MACD are bullish. Overbought to neutral on a daily basis, overbought on a weekly basis, as well as a neutral position on a monthly basis. Above 2599 above 2622, 2650 are considered important levels. If it breaks below 2518 below 2500, it means weakness.

UCO Bank (closing price Rs.39.50 on 22-12-23) has seen profitable selling at 42.75. Currently, the 12-day average is 39.94, the 48-day average is 38.89, and the 200-day average is 32.92. Daily and weekly MACD are bearish. Oversold on daily basis, neutral position on weekly as well as monthly basis. Above 42.75 above 49, it can come up to 53, 59, 70 in the long term. 34 support is considered as low.

Jubilant Food (closing price Rs.581.45 on 22-12-23) is bullish from a bottom of 491.25. Currently, the 12 day average is 560.60, the 48 day average is 541.07 and the 200 day average is 516.61. Daily and weekly MACD are bullish. Shows neutral on daily basis, overbought position on weekly as well as monthly basis. 586 above 591, 606, 621, 635, 650 possible. 575 below 560 is considered support.

Bank Nifty Future (close 47532.00 on 22-12-23) is bullish from a low of 42067. Currently, the 12 day average is 47701.35 and the 48 day average is 45643.95 and the 200 day average is 43997.45. Daily and weekly MACD are bullish. Overbought on daily and weekly basis as well as neutral position on monthly basis. Above 48280 above 48375 then 48420, 48656, 48900, 49140, 49375,. 49165, 49854, 50100 possible. Understanding weakness below 46964 in lows.

Nifty future (close 21385.05 on 22-12-23) is bullish from a bottom of 18840.55. Currently 12 day average is 21154.64 and 48 day average is 20350.25 and 200 day average is 19321.03. Daily and weekly MACD are bullish. Shows positions towards overbought on daily and weekly basis as well as overbought on monthly basis. Above 21474, above 21590, 21680, if possible up to 21760, 21870, 21970, 2080. If 20900 breaks below 21060, 21000, it means weakness.

Sayonara

After getting close, I felt that it would be better to keep some distance.

-Renal Patel.

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