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Nifty Technical Outlook

NIFTY (CMP : 24980)

Nifty immediate support is at 24850 then 24750 zones while resistance at 25100 then 25250 zones. Now it has to hold above 24850 zones for an up move towards 25100 then 25250 zones while supports can be seen at 24850 then 24750 zones

Bank Nifty Technical Outlook

BANK NIFTY (CMP : 55865)

Bank Nifty support is at 55555 then 55250 zones while resistance at 56250 then 56500 zones. Now it has to hold above 55750 zones for an up move towards 56250 then 56500 levels while on the downside support is seen at 55555 then 55250 zones

Stocks On Radar

Tube Investments of India Ltd

(CMP: 3152, Mcap Rs.60,998 Cr.)

* Consolidation Breakout on daily chart.

* Close above 200 DEMA

* Rising volumes visible.

* MACD indicator rising.

* Immediate support at 3095.

Supreme Industries Ltd 

(CMP: 4598, Mcap Rs.58,408 Cr.)

* Inverted “Head & Shoulder” pattern breakout.

* Respecting 100 DEMA support zones.

* MACD momentum indicator positively placed.

* Immediate support at 4365.

Nifty : Option Data

* Maximum Call OI is at 25000 then 25200 strike while Maximum Put OI is at 24900 then 25000 strike.

* Call writing is seen at 25000 then 25300 strike while Put writing is seen at 24900 then 25000 strike.

* Option data suggests a broader trading range in between 24500 to 25500 zones while an immediate range between 24700 to 25200 levels.

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