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NIFTY TECHNICAL OUTLOOK :

* The Nifty rallied strongly in July, reaching a lifetime high of 24,854.80. However, after hitting the all-time high, the Bulls continue to be in control, holding strong at higher levels.

* Technically, the Nifty may faces strong resistance near 25,270. A close above 25,270 for two consecutive trading sessions could signal an upward rally towards 25,600/27,000 levels.

* On the downside, the Nifty has strong support at 24,400-24,000. A break below 24,000 on a closing basis could trigger further selling pressure, potentially pushing the Nifty down to 23,700-23,400.

* The daily momentum indicator, RSI, suggests a possible uptrend with a sideways movement in the near term. Given the recent rally, profitbooking at higher levels is likely. Investors could consider booking profits at higher levels and wait for potential dips.

BANKNIFTY:

* The Bank Nifty faces immediate Resistance at 52,200. A close above this level could extend the up move towards 53,000/53,800. Support is positioned at 50,600/49,700.

DERIVATIVES OUTLOOK :

TheNiftyJul rolloverof69.69%is lower thanits Three months average of 71.04% and its six monthsaverageof73.92%.

Themarketwiderolloverof91.13%isatparthan its threemonths averageof 91.16%and its six monthsaverageof91.28%.

Nifty is opening the series with average open interestwhichmeans index is likely towitness bullishbiasintheAugustseries.

The Index options OI forAugseries is indicating thatindexislikelytoremainpositive.

The PCR and VIX have both cooled down indicatingpositivebiasfortheAugseries. 

View:

The index is likely to remainbullish In theAugseriesandmightwitnessconsolidation near resistanceplacedat 25000-25500 levels andsupportsplacedat24500-24000levels.

* Stocks likelytoremainpositivethroughthemonth;based on Rollovers analysis are as follows:

ADANIPORTS,SBILIFE,INDIACEM,GAIL,ONGC,GMRINFRA.

* Stocks likelytoremainnegativethroughthemonth;based on Rollovers analysis are as follows:

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