Index 54940 and Nifty Future 16350 important closing support

- Chart Hint: Ashok Trivedi

The BSE Index (closed at 7.5 on 20-08-21) is prone to softening from a high of 9114.5. At present the average for 15 days is 202.05 and the average for 9 days is 6.5 and the average for 200 days is 313.5. Daily and weekly MACD is pro-reform. Shows overboat positions on a daily, weekly as well as monthly basis. Above 6, 20, 20, 2114 are considered resistance surfaces. If 50 breaks below 2015, chances are up to 20, 200, 50, 50, 200, 50.

Havells (closing price Rs. 12.50 dt. 20-06-21) is pro-softening from the top of 15. At present, the average for 15 days is 1913.8 and for 5 days it is 1160.50 and for 200 days it is 4.5. The daily MACD is pro-softening. The weekly MACD is pro-reform. Shows the position of overboat on daily and weekly basis as well as overboat on monthly basis. Above 12 is considered a 12 resistance surface. If it closes below 120, 1905, chances are up to 115, 1150, 1150.

Hindalco (closing price of Rs. At present, the average for 15 days is 4.5 and for 8 days it is 206.5 and for 200 days it is 4.5. The daily MACD is pro-softening. The weekly MACD is pro-reform. Displays overboat to neutral on a daily and weekly basis as well as overboat positions on a monthly basis. Above 6 counts as resistance surface. Possibility of 3, 4, 5 below 500 below.

ICICI Bank (closing price of Rs. 30.30 on 30-08-21) is in favor of softening from the top of 215.50. At present, the average for a 15-day period is 4.5, for an 8-day period it is 2.15 and for a 200-day period it is 4.5. Above 6 is considered as 301 resistance surface. Possibility of 3, 2, 3, 4 below.

Indus End Bank (closing price of Rs. At present the average for 15 days is 1010.8 and for 8 days it is 1008.5 and for 200 days it is 4.5. Above 1008, 1013 is considered as resistance level. Possibility of up to 30, 3 if 2, 3 breaks below 50 below.

UPL (closing price Rs. 3.0 on 20-08-21) is softening from the top of 8.30. At present, the average for 15 days is 4.5 and for 8 days it is 8.05 and for 200 days it is 8.31. Daily and weekly MACDs are pro-softening. Shows oversold on daily and weekly basis as well as overboat position on monthly basis. Above 20 above 30 is considered a resistance surface. Possibility of 4 down to 214, 5, 20 below.

SBI Life (closing price of Rs. At present, the average for 12 days is 114.5 and for 10 days it is 104.51 and for 200 days it is 4.5. The daily MACD is pro-softening. The weekly MACD is pro-reform. Shows overboat positions on a daily basis. Above 1140, 114 resistance levels are considered. Possibility of 104 below 101, 103 to 103 below 1100.

Bank Nifty Futures (Closed 303.00 on 20-08-21) is prone to softening from the top of 6.15. At present, the average for 15 days is 314.5 and for 8 days it is 206.15 and for 200 days it is 8.3. Above 20 above 5, 60, 200 resistance levels are considered. Below 500 below 50, 5, 20, 200, 50, 2112.

Nifty Futures (Closed 150.00 on 20-08-21) is prone to softening from the top of 17.8. At present, the average for 15 days is 12.5 and the average for 9 days is 12.51 and the average for 200 days is 12.5. Daily and weekly MACD is pro-correction. Shows overboat positions on a daily, weekly as well as monthly basis. Above 1908, 12, 1917, 12 are considered resistance surfaces. Possibility of up to 120, 120, 19130, 19100, 1903, 120 below 12.

Sayonara

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