Stock market entering critical phase 20th to 22nd very important turning

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- Chart Indication - Ashok Trivedi

The BSE index (close 71483.75 on 15-12-23) is bullish from a low of 63092.98. Currently, the 12 day average is 68996.76, 48 day average is 66889.76 and 200 day average is 64345.43. Daily and weekly MACD are bullish. Shows positions towards overbought on daily and weekly basis as well as overbought on monthly basis. Days 20 to 22 are counted as days of turning gain. Above 71605, above 71640, 71315, 72000, 72670, 73350 is possible. Below 70600, 69650 is considered support. There have been numerous bullish gaps in the market. It is alarming that the market correction goes down without mercy.

Biocon (closing price Rs.251.70 on 15-12-23) is bullish from a bottom of 217.50. Currently 12 day average is 241.48 and 48 day average is 240.45 and 200 day average is 250.20. The daily MACD is bullish. Weekly MACD is bearish. Shows positions towards overbought on daily and weekly basis as well as oversold on monthly basis. Above 255 above 280 will go into a long-term boom with the possibility of 284 above 280, 300, 317, 334, 350. 239 support is counted as low.

India Bull Ha.Finance (closing price Rs.221.30 on 15-12-23) is in favor of a correction from the bottom of 150.05. Currently 12 day average is 201.07 and 48 day average is 185.53 and 200 day average is 157. Daily and weekly MACD are bullish. Shows overbought position on daily weekly as well as monthly basis. Above 223 above 227, if 242, 255, 227 are possible. 242, 255, 269 may fluctuate above 227. 199 below 204 is counted as support.

L&T Finance (closing price Rs.161.25 on 15-12-23) is bullish from a low of 139. Currently, the 12-day average is 152.82, the 48-day average is 143.33, and the 200-day average is 121.90. Daily and weekly MACD are bullish. Shows overbought positions on daily, weekly as well as monthly basis. Above 162 above 170 to 173 range is considered. There may be a sale. Above 170, 179, 188, 197 are important ranges. 151 support is now considered as low.

Infosys (closing price Rs.1578.40 on 15-12-23) is bullish from the bottom of 1651.65. Currently 12 day average is 1468.31 and 48 day average is 1436.38 and 200 day average is 1406.74. Daily and weekly MACD are bullish. Shows overbought positions on daily, weekly as well as monthly basis. 1589 above 1592 to 1597, 1640, 1685, 1730 possible. Below 1521, 1500 is considered support. Fluctuations may come up to 1850.

Voltas (closing price Rs.859.85 on 15-12-23) is bullish from a bottom of 811.85. Currently, the 12-day average is 846.40, the 48-day average is 839.85, and the 200-day average is 841. Daily and weekly MACD are bullish. Oversold on daily basis, neutral position on weekly as well as monthly basis. 866 above, 787 above, 885, 915 above, 924, 942, 965 possible. 841 below 848 is considered support in lows.

Wipro (closing price Rs.446.55 on 15-12-23) is in favor of a correction from the bottom of 375.05. Currently, the 12 day average is 416.90, the 48 day average is 405.38 and the 200 day average is 405.09. Daily and weekly MACD are bullish. Shows overbought on daily and weekly basis as well as neutral position on monthly basis. 444 above, 447 above, 470, 496 possible. 496 to 517, 541 possible. 428 below 428 is considered as support.

Bank Nifty Future (close 48235.00 on 15-12-23) is bullish from the bottom of 42067. Currently, the 12-day average is 46697.98, the 48-day average is 45108.24, and the 200-day average is 43794.21. Daily and weekly MACD are bullish. Overbought on daily and weekly basis as well as neutral position on monthly basis. Above 48375 above 48420, 48656, 48900, 49140, 49375, 49165, 49854, 50100 possible. 47111, 47000 support is considered as low.

Nifty futures (close 21558.20 on 15-12-23) is bullish from a bottom of 18840.55. Currently 12 day average is 20829.22 and 48 day average is 2012.36 and 200 day average is 19213.17. Daily and weekly MACD are bullish. Shows positions towards overbought on daily and weekly basis as well as overbought on monthly basis. Above 21590, 21650, 21760, 21870, 21970, 2080 are possible. Below 21400, 21354, 21177, 21048 are considered support.

Sayonara

No one listens to the true story of life, everywhere I have to say that I have come with a story. - Illness

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