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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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