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Nifty Technical Outlook

NIFTY (CMP : 24715)

Nifty immediate support is at 24500 then 24442 zones while resistance at 24850 then 25000 zones. Now it has to hold above 24630 zones for an up move towards 24850 then 25000 zones while supports can be seen at 24500 and 24442 zones.

Bank Nifty Technical Outlook

BANK NIFTY (CMP : 54067)

Bank Nifty support is at 53500 then 53250 zones while resistance at 54250 then 54500 zones. Now it has to hold above 53750 zones for a bounce towards 54250 then 54500 levels while a hold below the same could see some weakness towards 53500 then 53250 zones.

Technical Stocks On Radar

Supreme Industries Ltd

(CMP: 4631, Mcap Rs.58,826 Cr.)

* Retesting breakout from falling trendline.

* Respecting 50 DEMA.

* RSI momentum indicator rising.

* Immediate support at 4450.

Glenmark Pharmaceuticals Ltd

(CMP: 2004, Mcap Rs.56,564 Cr.)

* Bounce up from 50 DEMA support zones.

* Strong bullish candle.

* Rising volumes.

* RSI indicator giving bullish crossover.

* Immediate support at 1890.

Nifty : Option Data

* Maximum Call OI is at 25000 then 24700 strike while Maximum Put OI is at 24500 then 24600 strike.

* Call writing is seen at 24700 then 25000 strike while Put writing is seen at 24500 then 24600 strike.

* Option data suggests a broader trading range in between 24200 to 25200 zones while an immediate range between 24500 to 25000 levels.

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