Index 70665 while Nifty futures 21316 important support

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- Chart Indication - Ashok Trivedi

The BSE index (close 71683.23 on 19-01-24) is soft from a top of 73427.60. Currently, the 12 day average is 71912.25, the 48 day average is 70011.81 and the 200 day average is 65929.40. 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 71895, 72140, 72485, 72780 resistance levels are considered. 71542 below 70655 below 70200, 69860 is possible.

Bank of India (closing price Rs.135.20 on 19-01-24) is in favor of correction from the bottom of 105.50. Currently, the 12-day average is 125.82, the 48-day average is 114.81, and the 200-day average is 96.37. Daily and weekly MACD are bullish. Shows overbought positions on daily, weekly as well as monthly basis. Above 137 to 147, 158, 165 possible. Below 130, 127 is considered support.

Biocon (closing price Rs.276.10 on 19-01-24) is bullish from the bottom of 217.50. Currently, the 12-day average is 277.51, the 48-day average is 259.45, and the 200-day average is 253.92. Daily and intra-weekly MACD correction pro Che. Shows overbought on daily and weekly basis as well as neutral position on monthly basis. Above 290 above 295, if 303, 319, 337 is possible. 260 below 269 is considered as support.

HDFC Bank (closing price Rs.1470.65 on 19-01-24) is bearish from a top of 1721.40. Currently, the 12-day average is 1622.60, the 48-day average is 1619.32, and the 200-day average is 1590.73. Daily MACD is bearish. The weekly MACD is bullish. Oversold on daily and weekly basis as well as neutral position on monthly basis. Above 1515 above 1529, 1597 above 1620, 1658 are considered important levels. 1460 is considered an important level in the low. It is not necessary to trade a new bearish. Understand 1443 final support below 1460.

Infosys (closing price Rs.1659.20 on 19-01-24) pro-correction from the bottom of 1486.60. Currently 12 day average is 1587.30 and 48 day average is 1517.72 and 200 day average is 1439.52. Daily and weekly MACD are bullish. Shows overbought position on daily, weekly and monthly basis. Above 1665 above 1685, 1730, 1774 possible. 1600 below 1620 is considered as support.

Bank of Maharashtra (closing price Rs.51.65 on 19-01-24) is in favor of correction from the bottom of 43.05. Currently 12 day average is 48.44 and 48 day average is 46.24 and 200 day average is 39.14. Daily and weekly MACD are bullish. Shows positions towards overbought on daily and weekly basis as well as overbought on monthly basis. Possibility of 53 above 58, 61, 64, 68, 72.

Wipro (closing price Rs.485.05 on 19-01-24) is in favor of a correction from the bottom of 375.05. Currently, the 12-day average is 470.09, the 48-day average is 442.31, and the 200-day average is 417.17. Daily and weekly MACD are bullish. Nutcal on a daily basis, overbought to neutral on a weekly basis. Also shows position towards overbought on monthly basis. Possibility of 493, 506, 518, 529, 541, 553, 565, 577, 585 above. Below 468, 462 and 455 are considered support.

Bank Nifty future (close 45843.90 on 19-01-24) is soft from a top of 48869. Currently, the 12 day average is 47402.38, 48 day average is 46783.29 and 200 day average is 44357.00. 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. Above 46110 above 46320, 46800, 47170, 47600, 47800, 48440 are resistance levels. A low of 45584 to 45450, 45040, 44665 is possible.

Nifty futures (close 21675.00 on 19-01-24) is bearish from a top of 22149.90. Currently, the 12-day average is 21729.58, the 48-day average is 21110.60, and the 200-day average is 19738.40. Daily MACD is bearish. The weekly MACD is bullish. Shows positions from oversold to oversold on daily basis, overbought to neutral on weekly basis and overbought position on monthly basis. Above 21740 above 21855, 21950, 22000 resistance levels are considered. 21580, 21316 is possible to break down to 21110, 21075.

- Sayonara

Even the flower preserved in the book, has become upavan in your memory.

- Agan Rajyaguru

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