70000 in Sensex and 21140 in Nifty future important support

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- Chart Indication-Ashok Trivedi

The BSE index (close 70700.67 on 25-01-24) is soft from a top of 73427.60. Currently, the 12 day average is 71505.32, the 48 day average is 70181.87 and the 200 day average is 66133.35. Daily MACD is bearish. The weekly MACD is bullish. Oversold to oversold on daily basis, overbought to neutral on weekly basis and overbought position on monthly basis. Above 71050 above 71175, 71380, 72040 are considered pro-reformation. 69860 support is considered below 70000 in low.

Gujarat Gas (closing price Rs.552.45 on 25-01-24) is bullish from the bottom of 397.05. Currently, the 12-day average is 543.24, the 48-day average is 489.20, and the 200-day average is 463.79. Daily and weekly MACD are bullish. Shows overbought positions on daily, semi-weekly and monthly basis. 571 above 583, 606 possible. 538 below 559 is considered support. 538 is considered a weakness below. 513 below 538, 490 counts as support.

HDFC Bank (closing price Rs.1434.90 on 25-01-24) is bearish from a top of 1721.40. Currently 12 day average is 1541.54 and 48 day average is 1594.51 and 200 dils is 1585.53. Daily and weekly MACD are bearish. Shows oversold on daily, weekly basis and neutral position on monthly basis. Above 1476 above 1507, 1540 are resistance levels. Above 1540, 1570, 1595 are considered important levels. If 1413 breaks below 1380, then 1350, 1320 is possible.

IDBI (closing price Rs.83.50 on 25-01-24) is bullish from a bottom of 59.50. Currently, the 12-day average is 73.15, the 48-day average is 78.27, and the 200-day average is 61.86. Daily and weekly MACD are bullish. Daily and weekly shows overbought as well as neutral position on monthly basis. Above 87 above 90 and 94 are important levels. 73 below 77 is considered support. You will get reduced support. is in a long-term boom.

Infosys (closing price Rs.1669.10 on 25-01-24) is bullish from the bottom of 1486.60. Currently 12 day average is 1621.47 and 48 day average is 1539.04 and 200 day average is 1448.03. Daily and weekly MACD are bullish. Shows overbought positions on daily, weekly and monthly basis. Above 1680 above 1685, if possible up to 1730, 1774, 1818. Below 1650, 1627 is considered support.

Reliance (closing price Rs.2706.15 on 25-01-24) is bearish from a top of 2792.90. Currently 12 day average is 2690.07 and 48 day average is 2569.08 and 200 day average is 2413.60. Daily and weekly MACD are bullish. Oversold on a daily basis, overbought on a weekly basis and overbought on a monthly basis indicate positions. Above 2728 above 2766, 2793 are important resistance levels. 2645 down to 2620, 2580 possible in low. Don't trade the recession.

Wipro (closing price Rs.470.00 on 25-01-24) is bullish from a bottom of 375.05. Currently, the 12-day average is 472.31, the 48-day average is 446.83, and the 200-day average is 418.67. Daily MACD is bearish. The weekly MACD is bullish. Oversold on daily basis, overbought to neutral on weekly basis and overbought position on monthly basis. 483 above 493, 506, 518, 529, 541, 553, 565, 577, 586 possible. 462 below 466, 455 is considered support.

Bank Nifty future (close 44861.95 on 25-01-24) is soft from a top of 48869. Currently, the 12 day average is 46443.15, 48 day average is 46586.49 and 200 day average is 46689.89. Daily and weekly MACD are bearish. Shows oversold on daily and weekly basis as well as neutral position on monthly basis. Above 44880 above 45550, 45890, 46200, 46525 are considered pro-correction. 44295 below 44400 is considered support.

Nifty futures (close 21351.00 on 25-01-24) is bearish from a top of 22149.90. Currently, the 12 day average is 21601.95 and the 48 day average is 21167.62 and the 200 day average is 19806.77. Daily MACD is bearish. The weekly MACD is bullish. It shows the position from oversold to oversold on daily basis, overbought to neutral on weekly basis and overbought position on monthly basis. Above 21385 above 21425, 21540, 21740, 21785 are considered pro-reform. 21140 below 21110, 21075, 20900 possible.

Sayonara

If you don't get the right, you have to roar, otherwise you have to beg for the rest of your life.

- Kiran Singh Chauhan

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