Index 60300 and Nifty Future 18000 important support

- Chart Hint: Ashok Trivedi

The BSE Index (closed at 303.8 on 17-11-21) is in a softening trend from a high of 7.5. At present, the average for 15 days is 202.5 and for 8 days it is 4.5 and for 200 days it is 4.5. 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 2030, 2060, 21100, 2120, 314 jumps, then 2120, 2018, 2 are considered important surfaces. Below 30,600, below 3, 4, 203 is considered important support.

Bank of Baroda (closing price of Rs. At present the average for 15 days is 100.8 and for 21 days it is 21.12 and for 200 days it is 90.00. Daily and weekly MACD is pro-correction. Displays overboat to neutral, weekly as well as overboat positions on a daily and monthly basis. Above 108 counts as resistance surface. If 2 breaks below, 2, 21, 2 counts as support. The results are very good. Support will be found below. If 108 rises above, in the coming time it may come to 120, 150 to 12 as well as around 150.

BHEL (closing price of Rs. 6.15 on 19-11-21) is in favor of softening from the top of 20.8. 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. The daily MACD is pro-softening. The weekly MACD is pro-reform. Shows Oversold on a daily basis, Neutral from Overboat on a weekly basis and Neutral on a monthly basis. Above 20 counts as resistance surface. If 2 breaks down, it can come around 21, 2, 3. The results declared are not profitable but the losses have been reduced. The company may be making a profit in the future.

Balakrishna Industries (closing price of Rs. 31.8 on 19-11-21) is in favor of softening from the top of 8.30. At present, the 15-day average is 4.5 and the 9-day average is 6.5 and the 200-day average is 214.5. Daily and weekly MACDs are soft. Shows oversold on daily and weekly basis as well as overboat to neutral on monthly basis. Above 200 above 3, 4 counts as resistance surface. Possibility of down to 4, down to 5, 203.

Lotus Lab (closing price Rs. 4.3 dt. 17-11-21) is pro-softening from the top of 6.5. At present, the average for 15 days is 202.5 and for 8 days it is 4.5 and for 200 days it is 4.5. Daily and weekly MACDs are soft. Shows the position towards oversold on daily and weekly basis as well as oversold on monthly basis. Above 6 is considered a 20, 210 resistance surface. Possibility of up to 21, below 21, up to 20. Not all shares in F&O are worth investing in a year and a half.

Reliance (closing price of Rs. 3.10 on 19-11-21) is pro-improvement from the bottom of 8.30. At present, the average for 15 days is 8.50 and for 3 days it is 301.60 and 90.5. The daily MACD is pro-softening. The weekly MACD is pro-reform. Shows overboat on a daily basis, oversold on a weekly basis and overboat positions on a monthly basis. Above 6, 216, 20, 206, 21 are considered important surfaces. Below 20, 2 counts as support.

State Bank (closing price of Rs. 811.5 on 16-11-21) is in favor of softening from the top of 8.30. At present the average for 15 days is 313.8 and for 21 days it is 21.81 and for 200 days it is 304.5. The daily MACD is pro-softening. The weekly MACD is pro-reform. Shows overbought positions on a daily, weekly as well as monthly basis. Above 20 above 2 counts as resistance surface. Below are 3 important supports. In a year and a half, the 12-year-old became 5. Don't rush to get good results.

Bank Nifty Futures (Closed at 30.00 on 19-11-21) is prone to softening from the top of 3140.50. At present, the average for 15 days is 401.05 and for 20 days it is 20.8 and for 200 days it is 314.5. The daily MACD is pro-softening. Weekly MACD is pro-correction. Daily norms indicate oversold, weekly neutral and overboat positions on a monthly basis. Above 50, 3040, above 5, 205, 20, 20 are considered important resistance surfaces. If 50 breaks below 5121 below, chances are up to 20, 20, 20.

Nifty Futures (Closed 19131.9 dated 17-11-21) is pro-softening from the top of 12. At present the average for 15 days is 15001.5 and for 3 days it is 1200.5 and for 200 days it is 12.5. 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. If 120, 1905, 120 jumps above 19140, then 12, 120, 120, 12 are considered important surfaces. Below 15000 below 12, 18 are considered important surfaces.

Sayonara

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