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Nifty Technical Outlook

NIFTY (CMP : 25141)

Nifty immediate support is at 25000 then 24850 zones while resistance at 25300 then 25400 zones. Now it has to hold above 25100 zones for an up move towards 25300 then 25400 levels while on the downside supports shifting higher at 25000 and then 24850 zones.

Bank Nifty Technical Outlook

BANK NIFTY (CMP : 56459)

Bank Nifty support is at 56250 then 56000 zones while resistance at 56750 then 57000 zones. Now it has to hold above 56500 zones for an up move towards 56750 then 57000 zones while on the downside support is seen at 56250 then 56000 levels.

Stocks On Radar

ONGC

(CMP: 250, Mcap 3,11,135 Cr.)

• Verge of breakout above 200 DEMA resistance levels of 250.

• Higher lows formation.

• Rising volumes.

• RSI indicator positively placed.

• Immediate support at 243

TECHM

(CMP: 1637, Mcap 1,60,335 Cr.)

• Cup and Handle pattern breakout on daily scale.

• Higher than average traded volumes.

• RSI indicator giving bullish crossover.

• Immediate support at 1585.

Nifty : Option Data

• Maximum Call OI is at 25200 then 25500 strike while Maximum Put OI is at 25100 then 25000 strike.

• Call writing is seen at 25200 then 25400 strike while Put writing is seen at 25100 then 25150 strike.

• Option data suggests a broader trading range in between 24600 to 25500 zones while an immediate range between 24900 to 25400 levels.

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