Elite stocks will see an improvement amid neutral movement of indices

- Chart Indication - Ashok Trivedi

The BSE index (close 60840.74 on 30-12-22) is soft from a top of 63583.06. Currently, the 12-day average is 61192.46, the 48-day average is 61106.85, and the 200-day average is 58596.47. Daily and weekly MACD are bearish. Overbought position on daily basis, oversold position on weekly basis and overbought position on monthly basis shows oversold position on weekly basis and overbought position on monthly basis. Possibility of 61393 above 61430, 61670, 61910, 62120. 60743 in low, 60470, 60230, 59990, 59754 possible. If 59754 breaks down, the possibility is up to 59400, 58935, 58470.

Central Bank (closing price Rs.32.15 on 30-12-22) is in favor of easing from the top of 41.80. Currently, the 12-day average is 32.37, the 48-day average is 28.29, and the 200-day average is 22.48. Daily MACD is bearish. The weekly MACD is bullish. It shows neutral position on daily basis, overbought to neutral on weekly basis and neutral position on monthly basis. Above 34 above 38, if possible up to 42, 46. Above 46 may come up to 52, 60, 67, 73 and 80 in the long run. If you get profit, keep buying and selling, 28 below 25 is considered as support. The promoter holding is 93.08 percent.

Punjab National Bank (closing price Rs.56.45 on 30-12-22) is soft from the top of 62. Currently, the 12-day average is 54.61, the 48-day average is 50.31, and the 200-day average is 40.96. Daily MACD is bearish. The weekly MACD is bullish. Overbought on daily basis, overbought to neutral on weekly basis and overbought position on monthly basis. Above 57 above 62, the possibility of up to 66, 73. Above 73 can come up to 80, 97, 102, 113, 125, 138, 150 in the long run. Keep selling. If it breaks below 49, then support is considered. Promoter holding is 73.15 percent.

UCO Bunk (closing price 31.50 on 30-12-22) is soft with a top of 38.15. Currently, the 12-day average is 30.69, the 48-day average is 23.46, and the 200-day average is 15.96. Daily MACD is bearish. The weekly MACD is bullish. Shows positions towards overbought on daily basis, overbought on weekly basis and overbought on monthly basis. Above 34, above 38, if 40, 46 and 46, then 53, 59, 65, 71 can come in the long term. If 27 breaks in the low, then 22 is counted as support. The promoter holding is 95.39 percent.

Aibul Housing Finance (closing price Rs.154.70 on 30-12-22) is bullish from the bottom of 128.65. Currently, the 12-day average is 145.95, the 48-day average is 138.48, and the 200-day average is 141.77. Daily and weekly MACD are bullish. Overbought on daily basis, overbought to neutral on weekly basis and overbought position on monthly basis. Above 159 may fluctuate up to 173, 187, 201. Below 145, 138 and 129 are considered support.

BHEL (closing price Rs. 79.20 on 30-12-22) 91.55 bo

Mathi is pro-soft. Currently, the 12-day average is 79.68, the 48-day average is 77.11, and the 200-day average is 64.22. Daily MACD is bearish. The weekly MACD is bullish. It shows neutral on daily basis, oversold on weekly basis and overbought position on monthly basis. Above 80 Kudave, 87, 92 are considered important levels. 92 may come up to 96, 102, 108, 113 in the long run. 75 below 73 and 69 are considered support.

Reliance (closing price Rs.2547.20 on 30-12-22) is soft from top of 2755. Currently, the 12 day average is 2566.38, the 48 day average is 2578.38 and the 200 day average is 2522.56. Daily and weekly MACD are bearish. It indicates neutral position on daily basis, oversold on weekly basis and neutral position on monthly basis. Above 2560 above 2574, if possible up to 2588, 2612, 2644, 2671. If 2492 breaks below 2522, then 2477 is considered an important support.

Bank Nifty future (close 43232.65 on 30-12-22) is soft from a top of 44248.55. Currently, the 12 day average is 42980.02, 48 day average is 42407.61 and 200 day average is 39302.44. Daily MACD is bearish. The weekly MACD is bullish. Overbought on daily basis, oversold on weekly basis and overbought position on monthly basis. Possibility of 43606 above 43760, 43920, 44085 44258 above. 42980 below 42560, 42140 is considered as support.

Nifty futures (close 18219.50 on 30-12-22) are soft from a top of 18998.85. Currently, the 12-day average is 18250.42, the 48-day average is 18231.91, and the 200-day average is 17481.55. Daily and weekly MACD are bearish. Shows overbought position on daily basis, oversold position on weekly basis and overbought position on monthly basis. Above 18270, above 18345, 18374, then possible up to 18415, 18490, 18553. 18172 down to 18120, 18450, 17970, 17900, 17831 possible. If 17831 breaks down, the possibility goes up to 17740, 17617, 17460.

Sayonara

In self-reliance-journeys when there is a protector, a guide tortures, a crisis helper. -'Gani' Dahinwala