Fluctuations in stocks will see a softening move

- Chart Hint: Ashok Trivedi

The BSE index (closed at 5.01 on 19-11-21) is prone to softening from a high of 7.5. At present, the average for 15 days is 20612.18 and for 8 days it is 4.5 and for 200 days it is 313.5. Daily and weekly MACDs are soft. Shows overboat to neutral on a daily basis, oversold on a weekly basis and overboat positions on a monthly basis. Above 210, 30, 2013, 2014 are considered resistance surfaces. If the bottom 5 breaks down to 20, 205, the probability is up to 2010, 20, 20.

Godrej Property (Closed Price Rs. 219.50 on 19-11-21) is in favor of softening from the top of Rs. At present the average for 15 days is 202.5 and for 9 days it is 214.5 and for 200 days it is 12.51. The daily MACD is pro-softening. The weekly MACD is pro-reform. Shows oversold on a daily basis, oversold on a weekly basis and overboat positions on a monthly basis. Above 6 is considered a 20 resistance surface. Possibility up to 303, 2018, 14 below 314.

Conker (closing price of Rs. 4.3 dated 17-11-21) is pro-softening from the top of 210.30. At present, the average for 15 days is 8.50 and for 20 days it is 20.5 and for 200 days it is 4.5. Daily and weekly MACDs are soft. Shows Oversold on a daily basis, Neutral on a weekly basis and Neutral from Overboat on a weekly basis. Above 6, 2 counts as resistance surface. Below 2, below 20 and 2 are considered important surfaces.

Jindal Steel (closing price of Rs. At present, the average for 15 days is 6.5 and for 8 days it is 202.5 and for 200 days it is 8.05. Daily and weekly MACDs are soft. Shows position towards oversold on daily and weekly basis as well as oversold on monthly basis. Above 6, 21 counts as resistance surface. The bottom 2 is considered the surface of the tussle.

National Aluminum (Closed Price Rs. 4.3 dated 17-11-21) is pro-softening from the top of 12.5. At present, the average for 15 days is 4.5 and for 8 days it is 4.5 and for 200 days it is 4.5. Daily and weekly MACDs are soft. Shows oversold on daily and weekly basis as well as neutral position from overboat on monthly basis. Above 101 counts as resistance surface. Possibility of down to 6 down.

Sun Pharma (closing price Rs. 20.5 dated 17-11-21) is in favor of softening from the top of Rs. At present, the average for 15 days is 200.7 and for 9 days it is 8.31 and for 200 days it is 311.12. Shows oversold on daily and weekly basis as well as overboat positions on monthly basis. Above 6 is considered 204 resistance surface. If 5 and 21 break at the bottom, the probability of up to 5.

Reliance (closing price of Rs. 2.30 on 19-11-21) is in favor of softening from the top of 209.50. At present the average for 15 days is 6.11 and for 8 days it is 206.12 and for 200 days it is 8.15. The daily MACD is pro-softening. The weekly MACD is pro-reform. Shows oversold on daily and weekly basis as well as overboat positions on monthly basis. Above 206, 30 resistance surface is considered. Possibility of 20, below 20, up to 20.

Bank Nifty Futures (Closed at 3105.30 on 19-11-21) is prone to softening from a high of 3150.50. At present, the average for 15 days is 6.5 and for 8 days it is 4.5 and for 200 days it is 301.01. Daily and weekly MACDs are soft. Shows positions towards oversold on daily and weekly basis as well as overbought to neutral on monthly basis. Above 216, 20, 20, 5, 20 are considered resistance surfaces. Possibility of 50, 40, 50 below 21 below.

Nifty Futures (closed at 12.30 on 19-11-21) is pro-softening from the top of 15. At present the average for 15 days is 121.10 and for 12 days it is 12.5 and for 200 days it is 12061.9. Daily and weekly MACDs are soft. Daily and weekly MACDs are soft. Shows oversold position on daily and weekly basis as well as overboat position on monthly basis. Above 1800, above 120, 130, 13060 are considered resistance levels. If the bottom 12 breaks the bottom 12 then the probability up to 120, 1200, 12, 120.

Sayonara

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