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Nifty Technical Outlook

NIFTY (CMP : 24585)

Nifty immediate support is at 24350 then 24250 zones while resistance at 24650 then 24800 zones. Now it has to hold above 24442 zones for an up move towards 24650 then 24800 zones while supports can be seen at 24350 then 24250 zones.

Bank Nifty Technical Outlook

BANK NIFTY (CMP : 55510)

Bank Nifty support is at 55250 then 55000 zones while resistance at 55750 then 56000 zones. Now it has to cross and hold above 55555 zones for a bounce towards 55750 then 56000 levels while a hold below the same could see some weakness towards 55250 then 55000 zones.

Stocks On Radar

LT

(CMP: 3668, Mcap ? 5,04,593 Cr.)

* Bullish “Mat Hold” candlestick pattern.

* Large bodied bullish candle.

* Rising volumes visible.

* RSI indicator headed up.

* Immediate support at 3570.

ANANDRATHI

(CMP: 2693, Mcap ? 22,362 Cr.)

* Bounce up from 20 DEMA support zones.

* Strong bullish candle.

* Rising in volumes.

* RSI giving bullish crossover.

* Immediate support at 2535.

Derivative Outlook

* Nifty August future closed at 24627.90 with a premium of 42.85 point v/s 77.80 point premium in the last session.

* Nifty Put/Call Ratio (OI) increased from 0.66 to 1.03 level.

* India VIX increased by 1.54% to 12.22 level.

FII Cash & Derivative Activity

* FIIs on Derivatives front : Short covering in Index Futures, call unwinding and put selling in index options

* In the cash market : FIIs were net sellers to the tune of 1159 Cr and DIIs were net buyers worth 5951 Cr.

* FIIs long short ratio : Has been stuck in the 8-9% range

Nifty : Option Data

* Maximum Call OI is at 24600 then 25000 strike while Maximum Put OI is at 24500 then 24400 strike.

* Call writing is seen at 24550 then 25050 strike while Put writing is seen at 24400 then 24500 strike.

* Option data suggests a broader trading range in between 24100 to 25100 zones while an immediate range between 24400 to 24800 levels.

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