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Nifty Technical Outlook

NIFTY (CMP : 24876)

Nifty immediate support is at 24850 then 24700 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 24700 zones.

Bank Nifty Technical Outlook

BANK NIFTY (CMP : 55734)

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

Sensex Technical Outlook

Sensex (CMP : 81273)

Sensex support is at 81000 then 80700 zones while resistance at 81500 then 81800 zones. Now till it holds above 81000 zones, strength could be seen towards 81500 then 81800 zones whereas supports are placed at 81000 then 80700 zones.

Stocks On Radar

Aditya Birla Capital Ltd 

(CMP: 283, Mcap Rs.73,950 Cr.)

* Bounce up from 20 DEMA support zone.

* Overall uptrend.

* Rising volumes visible.

* RSI indicator giving positive crossover.

* Immediate support at 265

Nykaa Ltd

(CMP: 229, Mcap Rs.62,698 Cr.)

* Consolidation breakout above 222.

* Respecting 100 DEMA support zones.

* High volumes on up moves.

* MACD momentum indicator giving bullish crossover.

* Immediate support at 209.

Derivative Outlook

* Nifty August future closed at 24684.70 with a premium of 53.40 point v/s 92.85 point premium in the last session.

* Nifty Put/Call Ratio (OI) decreased from 1.08 to 1.01 level. ? India VIX increased by 1.77% to 12.36 level.

FII Cash & Derivative Activity

* FIIs on Derivatives front : Short covering in Index Futures, position unwinding in index options.

* In the cash market : FIIs were net sellers to the tune of 3564 Cr and DIIs were net buyers worth 3700 Cr.

* FIIs long short ratio : decreased to 8.30%

Nifty : Option Data

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

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

* Option data suggests a broader trading range in between 24100 to 25100 zones while an immediate range between 24400 to 24900 levels.

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