– Chart signal-Ashok Trivedi
The BSE Index (closed at 21.05 on 08-03-2) is in favor of a reactionary correction from the bottom of 2021.1. At present, the 12-day moving average is 4.05 and the 9-day moving average is 203.81 and the 200-day moving average is 21.8. Overbought on a daily basis, neutral towards weekly as well as oversold on a monthly basis. Up to 5, up to 21, 206, 200 possibilities. Below 50 below 2030, 214, 500 are considered important supports. The market looks set to make an important top this week. There are three bullish gaps on the chart. Be careful.
Gujarat Gas (Closed Price Rs. 4.5 dated 05-06-2) is in favor of reactionary improvement from the bottom of 206.5. At present, the 15-day average is 4.5 and the 9-day average is 4.5 and the 200-day average is 7.5. The daily MACD is pro-reform. Weekly softness is pro. Shows overboat on daily basis, oversold position on weekly as well as monthly basis. Possibility of up to 2, up to 3, up to 5, 6. The bottom 2 counts as the bottom 20 support.
Hindalco (closing price of Rs. 4.3 dated 05-06-2) is in favor of reactionary improvement from the bottom of 206.5. At present, the average for 15 days is 4.05 and the average for 9 days is 21.05 and the average for 200 days is 6.5. The daily MACD is pro-reform. The weekly MACD is pro-softening. Shows oversold positions on a daily as well as monthly basis towards the overboat. Possibility of up to 2, 3 above 4. Below 21 counts as support below 21.
Jindal Steel (closing price of Rs. 3.30 on 08-03-2) is in favor of reactionary correction from the bottom of 203.50. At present, the 15-day average is 4.5 and the 9-day average is 20.5 and the 200-day average is 310.5. The daily MACD is pro-reform. The weekly MACD is pro-softening. Towards overboat on a daily basis, showing oversold positions on a weekly as well as monthly basis. Possibility of 21, 2, 3 above 3. Below is considered support.
JSW Steel (closing price of Rs. 3.30 on 08-08-209) is in favor of reactionary correction from the bottom of 212.50. At present, the 15-day average is 4.5 and the 8-day is 6.5 and the 200-day is 311.01. The daily MACD is pro-reform. The weekly MACD is pro-softening. Shows overboat on daily and weekly basis as well as oversold position on monthly basis. Possibility of 5, 6, 206, 210 above 50. The bottom 2 counts as the bottom 3 support.
Tata Steel (closing price of Rs. 3.30 on 08-09-2) is in favor of a reactionary correction from the bottom of the 5th. At present, the average for 15 days is 4.5 and for 8 days it is 8.05 and for 200 days it is 104.5. The daily MACD is pro-reform. The weekly MACD is pro-softening. Shows neutral, weekly as well as oversold positions on a monthly basis. Possibility of up to 218, 21, 2, 3, 31 above 206. Below is considered support.
UPL (closing price Rs. 20.5 dated 05-03-2) is in favor of reactionary improvement from the bottom of 21.5. At present, the 15-day average is 21.8 and the 9-day average is 314.51 and the 200-day average is 7.5. The daily MACD is pro-reform. The weekly MACD is pro-softening. Overbought on a daily basis, oversold on a weekly basis and overbought on a monthly basis. Possibility of up to 4, 517, 6 above. Below is considered support.
Bank Nifty Futures (Closed at 313.00 on 08-08-2) is pro-correction from the bottom of the 5th. At present, the average for 15 days is 4.5 and for 8 days it is 206.51 and for 200 days it is 8.05. The daily MACD is pro-reform. The weekly MACD is pro-softening. Overbought on a daily basis, towards neutral on a weekly basis, as well as oversold on a monthly basis. Above 500 is considered as 3 important surfaces. Below 2000 counts as 20, 20, 3 support.
Nifty Futures (Closed 17.8 on 08-09-2) is in favor of a reactionary correction from the bottom of 1908.30. The daily MACD is pro-reform. The weekly MACD is pro-softening. Overbought on a daily basis, neutral on a weekly basis and oversold on a monthly basis. Possibility up to 15, 181, 18, 1500 above 150. Below 1912, below 1802, 15000 are considered support.
Sayonara
Life will be given to the next generation, the rest of our breath will not be wasted.
-Patient