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Nifty Technical Outlook

NIFTY (CMP : 26042)

Nifty immediate support is at 25900 then 25800 zones while resistance at 26250 then 26325 zones. Now it has to hold above 26000 zones to reclaim its recent highs of 26250 then 26325 zones while supports can be seen at 25900 then 25800 zones.

Bank Nifty Technical Outlook

BANK NIFTY (CMP : 59011)

Bank Nifty support is at 58750 then 58500 zones while resistance at 59250 then 59500 zones. Now it has to cross and hold above 59000 zones for a bounce towards 59250 then 59500 zones while on the downside support is seen at 58750 then 58500 levels.

Sensex Technical Outlook

Sensex (CMP : 85041)

Sensex support is at 84700 then 84500 zones while resistance at 85200 then 85500 zones. Now till it holds below 85200 zones weakness could be seen towards 84700 then 84500 zones while hurdles have shifted lower to 85200 then 85500 zones.

Midcap100 Index Technical Outlook

* Formed a bearish candle and RSI indicator showing weakness.

Smallcap250 Index Technical Outlook

* Small Bodied candles and hovering around 50 DEMA.

Technical Stocks On Radar

NMDC Ltd

* Consolidation breakout on daily chart.

* Surge in traded volumes.

* RSI indicator rising.

* Immediate support at 79.50

Container Corporation of India Ltd

* Bounce up from support zones.

* Close above 50 DEMA.

* Rising volumes.

* RSI indicator positively placed.

* Immediate support at 490.

Technical Chart Pattern for the Day

* “Symmetrical Triangle” Pattern formation, Breakout above 490

Nifty : Option Data

* Maximum Call OI is at 26100 then 26200 strike while Maximum Put OI is at 26000 then 25800 strike.

* Call writing is seen at 26100 then 26200 strike while Put writing is seen at 26060 then 25950 strike.

* Option data suggests a broader trading range in between 25600 to 26400 zones while an immediate range between 25800 to 26200 levels.

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