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Nifty Technical Outlook

NIFTY (CMP : 25114)

Nifty immediate support is at 25000 then 24900 zones while resistance at 25250 then 25350 zones. Now it has hold above 25050 zones for an up move towards 25250 then 25350 zones while supports have shifted higher to 25000 then 24900 zones.

Bank Nifty Technical Outlook

BANK NIFTY (CMP : 54809)

Bank Nifty support is at 54500 then 54250 zones while resistance at 55000 then 55250 zones. Now it has to hold above 54500 zones for an up move towards 55000 then 55250 zones while on the downside support is seen at 54500 then 54250 levels.

Technical Stocks On Radar

Bharat Electronics Ltd

(CMP: 399, Mcap Rs. 2,66,741 Cr.)

* Range breakout on daily chart.

* Strong bullish candle.

* Rising volumes visible.

* RSI momentum indicator positively placed.

* Immediate support at 386

IOL Chemicals and Pharmaceuticals Ltd

(CMP: 115, Mcap Rs. 3,398 Cr.)

* Consolidation breakout on weekly time frame.

* Surge in traded volumes.

* Respecting 50 DEMA support zones.

* ADX line suggesting bullish strength.

* Immediate support at 110.

Nifty : Option Data

* Maximum Call OI is at 25200 then 25300 strike while Maximum Put OI is at 25000 then 25100 strike.

* Call writing is seen at 25100 then 25150 strike while Put writing is seen at 25100 then 25050 strike.

* Option data suggests a broader trading range in between 24600 to 25500 zones while an immediate range between 24900 to 25300 levels.

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