Index 53057 and Nifty Future 15909 important resistance surfaces

- Chart Hint: Ashok Trivedi

The BSE Index (closed at 6.05 on 3-08-21) is in favor of improvement from the bottom of 31,201.11. At present, the average for 15 days is 31.10 and the average for 9 days is 31100.51 and the average for 200 days is 316.5. Above 205, up to 2150, 210, 50, 2120, 210, 20, 2120, 300 possibilities. Below are considered 500, 20, 2, 2150 support.

Apollo Taryas (closing price of Rs. 31.5 dated 3-06-21) is in favor of softening from the top of Rs. At present, the average for 15 days is 4.5 and the average for 3 days is 6.5 and the average for 200 days is 12.5. Daily and weekly MACDs are soft. Shows oversold on daily basis, neutral position from overboat on weekly as well as monthly basis. Above 2 and 3 are considered resistance surfaces. Below 212, below 210 and 12 are important surfaces.

Hindustan Petroleum (closing price of Rs. 4.00 on 7-08-21) is in favor of softening from the top of 215. At present, the average for 15 days is 7.5 and the average for 9 days is 7.5 and the average for 200 days is 21.15. The daily MACD is pro-softening. The weekly MACD is pro-reform. Shows the position towards Olarsold on a daily basis, from Overboat to Neutral on a weekly basis and towards Overboat on a monthly basis. Above 206, 304 is considered as resistance level. If 5 is broken at the bottom, the probability is up to 5.

India Bull Yes. Finance (closing price of Rs. 31.50 on 3-08-21) is in favor of softening from the top of Rs. The current 15-day average is 21.12 and the 9-day average is 8.9 and the 200-day average is 304.5. The daily MACD is pro-softening. The weekly MACD is pro-reform. Oversold on a daily basis shows a neutral position from overboat to neutral on a weekly basis as well as on a monthly basis. Above 6 above is considered a resistance surface. Possibility of down to 21, 21 below. This stock will show a sharp improvement again from where the take signals.

L&T Finance (Closed Price Rs. 3.5 on 3-08-21) This stock is in the sideways between 101 and 3. At present, the 15-day average is 7.5 and the 9-day average is 2.7 and the 200-day average is 6.15. Daily and weekly MACDs are soft. Neutral on daily basis, neutral from overboat on weekly basis as well as oversold positions on monthly basis are shown. The bottom 2 counts as support.

Indian Bank (closing price Rs. 12.50 on 3-08-21) is in favor of improvement from the bottom of 2.09. At present, the average for 15 days is 12.5 and the average for 9 days is 12.5 and the average for 200 days is 104.5. Daily and weekly MACD is pro-correction. Shows positions towards the overboat on a daily, weekly as well as monthly basis. If you jump 12 and 14 above, chances are up to 12, 13. The bottom 12 counts as 150 support.

Reliance (closing price of Rs. 2106.5 on 3-08-21) is pro-softening from the top of 8.50. At present the average of 15 days is 114.15 and the average of 9 days is 2101.5 and the average of 200 days is 16.5. The daily MACD is pro-softening. The weekly MACD is pro-reform. Shows oversold on a daily basis, overbought on a weekly basis as well as neutral positions on a monthly basis. Above 216, 200 resistance levels are considered. Possibility of 2051, 206, 206 below 2021.

Bank Nifty Futures (Closing 31.00 on 5-08-21) is in favor of the bottom of the correction. The current 15-day average is 21.8, the 9-day average is 7.5 and the 200-day average is 314.12. Daily and weekly MACDs are soft. Shows the position from overboat to neutral on a daily basis, neutral on a weekly as well as monthly basis. If you jump 20 on the top 6, chances are up to 200, 50, 50, 210, 30. Below 2000, 20 counts as support.

Nifty Futures (Closed 120.00 on 9-08-21) is pro-correction from the bottom of 19.10. The current 18-day allergy is 16.15 and the 3-day allergy is 121.5 as well as the 200-day allergy. The daily MACD is pro-softening. The weekly MACD is pro-reform. Towards overboat on a daily basis, showing overboat positions on a weekly as well as monthly basis. If 1609 jumps above, the probability is up to 120, 16050, 1914, 1910, 1500. Understand weakness if it closes below 120, 12.

Sayonara

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