IGI Logo

Nifty Technical Outlook

NIFTY (CMP : 24826)

Nifty immediate support is at 24700 then 24600 zones while resistance at 25100 then 25200 zones. Now it has to cross and hold above 24900 zones for an up move towards 25100 then 25200 levels else weakness could be seen towards 24700 and then 24600 level.

Bank Nifty Technical Outlook

BANK NIFTY (CMP : 55352)

Bank Nifty support is at 55250 then 55000 zones while resistance at 55750 then 56000 zones. Now it has to hold above 55250 zones for an up move towards 55750 then 56000 levels while on the downside support shift higher at 55250 then 55000 zones.

Stocks On Radar

SBICARD

(CMP: 915, Mcap 87,143 Cr.)

• Overall uptrend and respecting 50 DEMA.

• Move momentum above 920.

• Stochastic indicator positively placed.

• Immediate support at 876.

CDSL

(CMP: 1466, Mcap 30,635 Cr.)

• Consolidation breakout above 1490.

• Trading in a narrow range.

• Accumulation visible.

• MACD momentum indicator rising.

• Immediate support at 1420.

Derivative Outlook

* Nifty May future closed at 24862.60 with a premium of 36.40 point v/s 34.75 point premium in the last session.

* Nifty Put/Call Ratio (OI) decreased from 1.06 to 0.82 level.

* India VIX increased by 2.86% to 18.54 level.

FII Cash & Derivative Activity

• FIIs on Derivatives front : Short built up in index futures, Call & Put buying in index options. • In the cash market : FIIs were net buyers to the tune of 348 Cr while DIIs were net buyers worth 10105 Cr. • FIIs long short ratio : Decreased to 31.35%

Nifty : Option Data

• Maximum Call OI is at 25000 then 25500 strike while Maximum Put OI is at 24500 then 25000 strike. • Call writing is seen at 24800 then 24900 strike while Put writing is seen at 24400 then 24800 strike. • Option data suggests a broader trading range in between 24300 to 25300 zones while an immediate range between 24600 to 25000 levels.

For More Research Reports : Click Here 

For More Motilal Oswal Securities Ltd Disclaimer
http://www.motilaloswal.com/MOSLdisclaimer/disclaimer.html
SEBI Registration number is INH000000412