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Nifty Technical Outlook

NIFTY (CMP : 25082)

Nifty immediate support is at 25000 then 24800 zones while resistance at 25222 then 25350 zones. Now till it holds below 25150 zones, weakness could be seen towards 25000 then 24800 zones while hurdles are shifting lower at 25222 then 25350 zones.

Bank Nifty Technical Outlook

BANK NIFTY (CMP : 56765)

Bank Nifty support is at 56500 then 56250 zones while resistance at 57000 then 57250 zones. Now till it holds below 57000 zones some weakness could be seen towards 56500 then 56250 levels while on the upside hurdle is seen at 57000 then 57250 zones.

Stocks On Radar

TTK Prestige Ltd

* Bullish “Pole & Flag” pattern.

* Respecting 50 DEMA support zones.

* Surge in volumes.

* MACD indicator giving bullish crossover.

* Immediate support at 1600.

Graphite India Ltd

* Verge of consolidation breakout above 595.

* Respecting 50 DEMA support zones.

* Rising volumes.

* RSI indicator positively placed.

* Immediate support at 547.

Derivative Outlook

* Nifty July future closed at 25167.50 with a premium of 85.20 point v/s 73.55 point premium in the last session.

* Nifty Put/Call Ratio (OI) decreased from 0.76 to 0.72 level.

* India VIX increased by 1.38% to 11.98 level.

FII Cash & Derivative Activity

* FIIs on Derivatives front : Short built up in index futures, call and put buying in index options

* In the cash market : FIIs were net sellers to the tune of 1629 Cr while DIIs were net buyers worth 1821 Cr.

* FIIs long short ratio : Decreased to 18.31%

Nifty : Option Data

* Maximum Call OI is at 25500 then 25300 strike while Maximum Put OI is at 25000 then 25100 strike.

* Call writing is seen at 25100 then 25200 strike while Put writing is seen at 25100 then 25000 strike.

* Option data suggests a broader trading range in between 24600 to 25600 zones while an immediate range between 24800 to 25300 levels.

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