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Nifty Technical Outlook

NIFTY (CMP : 22331) Nifty immediate support is at 22000 then 21750 zone while resistance at 22600 then 22800 zones. Now till it holds below 22500 zones weakness could be seen towards 22000 then 21750 zones while hurdles have shifted lower to 22600 then 22800 zones.

Bank Nifty Technical Outlook

BANK NIFTY (CMP : 50275) Bank Nifty support is at 49500 then 49000 zones while resistance at 51000 then 51250 zones. Now till it holds below 50500 zones, weakness could be seen towards 49500 then 49000 levels while hurdles have shifted lower to 51000 then 51250 zones.

Sensex Technical Outlook

Sensex (CMP : 71947) Sensex support is at 71300 then 70800 zones while resistance at 72500 then 73000 zones. Now till it holds below 72500 zones, weakness could be seen towards 71300 then 70800 zones while hurdles have shifted lower to 72500 then 73000 zones.

Midcap100 Index Technical Outlook

Smallcap250 Index Technical Outlook

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Technical Stocks On Radar

Avenue Supermarts Ltd

(CMP: 3956, Mcap Rs 2,57,482 Cr.)

* Breakout above 200 DEMA level of 4000.

* Surge in traded volumes visible.

* RSI indicator confirming positive momentum.

* Immediate support at 3820.

Great Eastern Shipping Company Ltd

(CMP: 1414, Mcap Rs 20,197 Cr.)

* Bullish “Pennant” Pattern on the daily chart.

* Respecting 20 DEMA support.

* RSI verge of bullish crossover.

* Immediate support at 1330.

Nifty : Option Data

* Maximum Call OI is at 23000 then 22500 strike while Maximum Put OI is at 21500 then 22000 strike.

* Call writing is seen at 22500 then 23500 strike while Put writing is seen at 21500 then 22500 strike.

* Option data suggests a broader trading range in between 21800 to 22800 zones while an immediate range between 22000 to 22600 levels.

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