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Nifty Technical Outlook

NIFTY (CMP : 25423)

Nifty immediate support is at 25350 then 25200 zones while resistance at 25550 then 25700 zones. Now it has to hold above 25350 zones for an up move towards 25550 then 25700 zones while supports have shifted higher to 25350 then 25200 zones

Bank Nifty Technical Outlook

BANK NIFTY (CMP : 55727)

Bank Nifty support is at 55500 then 55250 zones while resistance at 56000 then 56250 zones. Now it has to hold above 55500 zones for an up move towards 56000 then 56250 zones while on the downside support is seen at 55500 then 55250 levels.

Technical Stocks On Radar

Eternal Ltd 

(CMP: 337, Mcap Rs.3,26,037 Cr.)

* Range breakout at “All Time High” zones.

* Strong bullish candle with rise in volumes.

* Respecting 20 DEMA support zones.

* RSI momentum indicator rising.

* Immediate support at 320.

Laurus Labs Ltd

(CMP: 923, Mcap Rs. 49,839 Cr.)

* Bullish “Pennant” pattern breakout.

* Strong bullish candle.

* Respecting 20 DEMA support zones.

* Surge in traded volumes.

* RSI indicator positively placed.

* Immediate support at 880

Nifty : Option Data

* Maximum Call OI is at 25500 then 25400 strike while Maximum Put OI is at 25400 then 25300 strike.

* Call writing is seen at 25400 then 25500 strike while Put writing is seen at 25400 then 25450 strike.

* Option data suggests a broader trading range in between 24900 to 25900 zones while an immediate range between 25200 to 25700 levels.

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