Bank Nifty support is at 51500 then 51250 zones while resistance at 52000 then 52250 zones - Motilal Oswal Wealth Management

Nifty Technical Outlook
NIFTY (CMP : 23668)
Nifty immediate support is at 23500 then 23350 zones while resistance at 23850 then 24000 zones. Now it has to hold above 23600 zones for an up move towards 23850 then 24000 zones while supports are shifting higher to 23500 then 23350 zones.
Bank Nifty Technical Outlook
BANK NIFTY (CMP : 51607)
Bank Nifty support is at 51500 then 51250 zones while resistance at 52000 then 52250 zones. Now it has to hold above 51500 zones for an up move towards 52000 then 52250 levels while on the downside support is seen at 51500 then 51250 zones.
Stocks On Radar
Bajaj Finserv Ltd
Bajaj Finserv Ltd CMP: 1945, Mcap 3,10,559 Cr.
* Triangle breakout on daily scale
* Trading near at ATH levels
* Rising volumes visible
* RSI Indicator showing strength
* Immediate support at 1890
Grasim Industries Ltd
Grasim Industries Ltd CMP: 2569, Mcap 1,74,835 Cr.
* Trendline breakout on daily chart
* Close above 200 DEMA
* Higher than average traded volumes
* RSI momentum indicator headed up
* Immediate support at 2515
Derivative Outlook
* Nifty March future closed at 23,705.35 with a premium of 36.7 point v/s 41 point premium in the last session.
* Nifty Put/Call Ratio (OI) decreased from 1.22 to 1.04 level.
* India VIX increased by 0.68% to 13.79 level.
Nifty : Option Data
* Maximum Call OI is at 24000 then 24100 strike while Maximum Put OI is at 23000 then 23500 strike.
* Call writing is seen at 24000 then 23800 strike while Put writing is seen at 23700 then 23800 strike.
* Option data suggests a broader trading range in between 23000 to 24000 zones while an immediate range between 23400 to 23800 levels.
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