Index 57924 and Nifty Future 17276 important support

- Chart signal-Ashok Trivedi

The BSE Index (closed 58305.07 dated 09-09-21) is in favor of the bottom correction of 55013.98. The current 12-day average is 57324.49 and the 48-day is 54960.23 and the 200-day is 50163.19. Daily and weekly MACD is pro-correction. Shows overboat positions on a daily, weekly as well as monthly basis. If 58553 jumps above 58373, chances are up to 58820, 59085. The bottom counts as 57924, 57730 support.

Kotak Mahendra Bank (closing price Rs. 1817.85 dated 09-09-21) is in favor of the bottom of 1688.90. The current 12 day average is 1763.96 and the 48 day average is 1748.06 and the 200 day average is 1731.68. Daily and weekly MACD is pro-correction. Shows the position from Overboat to Neutral on a daily basis, Neutral on a weekly basis as well as Neutral on a monthly basis. Above 1844 up to 1863, 1886 possibilities. Below 1809 counts below 1783 support.

Reliance (closing price Rs. 2425.60 dated 09-09-21) is in favor of improving the bottom of 2016.25. The current 12-day average is 2321.23, the 48-day average is 2189.76 and the 200-day average is 2058.51. Daily and weekly MACD is pro-correction. Shows overboat positions on a daily, weekly as well as monthly basis. If 2458, 2480 jumps above 2440, chances are up to 2495, 2529, 2563, 2597, 2630, 2665. Below 2412 counts below 2395, 2368 support.

Tata Chemicals (closing price Rs. The current 12-day average is 835.15 and the 48-day average is 805.06 as well as the 200-day average of 669.12. Daily and weekly MACDs are soft. Shows oversold on daily basis, overbought to neutral on weekly as well as monthly basis. Above 836 counts 841, 850 resistance surfaces. If 813 breaks below 820, the probability is up to 810, 805, 800, 792.

Ashok Leyland (closing price Rs. 125.30 on 09-09-21) shows a rebound from the bottom of 114.30. The current 12-day average is 121.70, the 48-day 123.74 and the 200-day 113.68. Daily and weekly MACDs are soft. Shows neutral positions on a daily basis, oversold on a weekly basis, as well as neutral positions from overboat on a monthly basis. Above 127 above 132 are considered important resistance surfaces. The bottom 121 is considered important support.

Cholamandalam (closing price Rs. 568.25 dated 09-09-21) is in favor of the bottom of 472.50. The current 12-day average is 555.35, the 48-day average is 530.40 and the 200-day average is 479.44. The daily MACD is pro-reform. The weekly MACD is pro-softening. Shows the position of Overboat to Neutral on a daily basis, Overboat on a weekly basis as well as Overboat to Neutral on a monthly basis. Possibility of up to 891,600 above 583. Understand weakness if 561 breaks below 561 below.

Sun TV (closing price Rs. 491.45 on 09-09-21) is softening from the top of 582.15. The current 12-day average is 489.05, the 48-day average is 508.42 and the 200-day average is 495.06. Daily and weekly MACDs are soft. Shows oversold on daily and weekly basis as well as neutral position from overboat on monthly basis. If 499 jumps above 492 then 508 is considered important surface. Probability up to 513, 519, 526, 533. The bottom counts as 478 support.

Bank Nifty Futures (closed 36770.00 on 09-09-21) is in favor of the bottom correction of 34850. The current 12-day average is 36460.14, the 48-day average is 35739.57 and the 200-day average is 33190.79. The daily MACD is pro-reform. The weekly MACD is on the verge of softening. Displays overboat to neutral on a daily basis, overboat positions on a weekly as well as monthly basis. If 37250 jumps above 37037, chances are up to 37320, 37770, 38330. The bottom counts as 36250 support.

Nifty Futures (closed 17371.00 on 09-09-21) is in favor of the bottom of 16342. The current 12-day average is 17084.97, the 48-day average is 16413.28 and the 200-day average is 14955.73. Daily and weekly MACD is pro-correction. Shows overboat positions on a daily, weekly as well as monthly basis. If 17450 jumps above 17401, chances are up to 17500, 17575, 17650. Below 17276, 17200 counts as support.

Sayonara

Don't forgive me with such heart, I told myself that there should be punishment

- Patient