Bank Nifty support is at 56750 then 56500 zones while resistance at 57250 then 57500 zones - Motilal Oswal Wealth Mangement
Nifty Technical Outlook
NIFTY (CMP : 25090)
Nifty immediate support is at 24800 then 24650 zones while resistance at 25250 then 25350 zones. Now it has to decisively cross and hold above 25150 zones, for a bounce towards 25250 then 25350 zones while supports are placed at 24800 then 24650 zones
Bank Nifty Technical Outlook
BANK NIFTY (CMP : 56952)
Bank Nifty support is at 56750 then 56500 zones while resistance at 57250 then 57500 zones. Now it has to hold above 56750 zones for a bounce towards 57250 then 57500 levels while on the downside support is seen at 56750 then 56500 zones
Stocks On Radar
MAHINDRA & MAHINDRA
(CMP: 3246, Mcap ? 4,03,737 Cr.)
* On verge of breakout.
* Strong bullish candle.
* Holding 20 DEMA.
* RSI positively placed.
* Immediate support at 3150.
MUTHOOT FINANCE
(CMP: 2683, Mcap ? 1,07,722 Cr.)
* Consolidation break out on daily chart.
* Inside bar breakout on weekly chart.
* Strong overall uptrend .
* MACD positively placed.
* Immediate support at 2580.
Derivative Outlook
* Nifty July future closed at 25127.60 with a premium of 36.9 point v/s 63.90 point premium in the last session.
* Nifty Put/Call Ratio (OI) increased from 0.78 to 0.96 level.
* India VIX decreased by 1.67% to 11.20 level.
FII Cash & Derivative Activity
* FIIs on Derivatives front : Short covering in index futures, call unwinding and put writing in index options
* In the cash market : FIIs were net sellers to the tune of 1732 Cr while DIIs were net buyers worth 3555 Cr.
* FIIs long short ratio : increased to 15.14%
Nifty : Option Data
* Maximum Call OI is at 25100 then 25200 strike while Maximum Put OI is at 25000 then 24900 strike.
* Call writing is seen at 25100 then 25050 strike while Put writing is seen at 25000 then 25100 strike.
* Option data suggests a broader trading range in between 24600 to 25600 zones while an immediate range between 24900 to 25300 levels.
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