MOSt Market Outlook : Nifty immediate support is at 24444 then 24300 zones while resistance at 24850 then 24300 zones by
Nifty Technical Outlook
Nifty immediate support is at 24444 then 24300 zones while resistance at 24850 then 24300 zones. Now it has to cross and hold above 24700 zones for an up move towards 24850 then 25000 zones while a hold below the same could see a profit booking decline towards 24444 then 24300 levels.
Bank Nifty Technical Outlook
BANK NIFTY (CMP : 54941) Bank Nifty support is at 54750 then 54500 zones while resistance at 55250 then 55555 zones. Now it has to cross and hold above 55000 zones for an up move towards 55250 then 55555 zones while a hold below the same could see a profit booking decline towards 54750 then 54500 levels
Stocks On Radar
NMDC (CMP: 71, Mcap 62,589 Cr.)
• Consolidation breakout on daily scale.
• Surge in traded volumes visible.
• MACD momentum indicator rising.
• Immediate support at 69.
STRIDES PHARMA
(CMP: 730, Mcap 6,731 Cr.)
• Falling supply trendline breakout on daily scale.
• Strong bodied candle.
• Higher than average traded volumes visible.
• MACD giving bullish crossover.
• Immediate support at 700.
Derivative Outlook
? Nifty May future closed at 24652.20 with a premium of 42.50 point v/s 18.75 point premium in the last session.
? Nifty Put/Call Ratio (OI) increased from 0.81 to 0.94 level.
? India VIX decreased by 1.65% to 17.26 level.
FII Cash & Derivative Activity
• FIIs on Derivatives front : Short built up in index futures, position unwinding in index options
• In the cash market : FIIs were net sellers to the tune of 5045 Cr while DIIs were net buyers worth 3715 Cr.
• FIIs long short ratio : Decreased to 31.94%
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