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Nifty Technical Outlook

NIFTY (CMP : 23519)

Nifty immediate support is at 23400 then 23200 zones while resistance at 23750 then 23900 zones. Now if it manages to hold above 23500 zones then bounce could be seen towards 23750 then 23900 zones while on the downside support can be seen at 23400 then 23200 zones.

Bank Nifty Technical Outlook

BANK NIFTY (CMP : 51564)

Bank Nifty support is at 51250 then 51000 zones while resistance at 52000 then 52250 zones. Now it has to hold above 51250 zones for an up move towards 52000 then 52250 levels while on the downside support is seen at 51250 then 51000 zones.

IPCA Laboratories Ltd

IPCA Laboratories Ltd CMP: 1501, Mcap 38,104 Cr.

* Rounding bottom breakout above 1515.

* Close above 50 DEMA

* RSI Indicator suggesting strength.

* Immediate support at 1460

Birlasoft Ltd

Birlasoft Ltd CMP: 389, Mcap 10,773 Cr.

* Range breakdown below 383

* Higher than average selling volumes

* RSI giving bearish crossover

* Immediate resistance at 420

Derivative Outlook

* Nifty April future closed at 23,637.65 with a premium of 118.30 point v/s 185.70 point premium in the last session.

* Nifty Put/Call Ratio (OI) decreased from 1.01 to 0.92 level.

* India VIX decreased by 4.38% to 12.72 level.

FII Cash & Derivative Activity

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

* In the cash market : FIIs were net sellers to the tune of 4353 Cr while DIIs were net buyers worth 7647 Cr.

* FIIs long short ratio : Decreased to 35.02%

Nifty : Option Data

* Maximum Call OI is at 24500 then 24000 strike while Maximum Put OI is at 23500 then 23000 strike.

* Call writing is seen at 23600 then 23800 strike while Put writing is seen at 23500 then 23300 strike.

* Option data suggests a broader trading range in between 23000 to 24000 zones while an immediate range between 23300 to 23700 levels.

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