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Nifty Technical Outlook

NIFTY (CMP : 25001) Nifty immediate support is at 24850 then 24750 zones while resistance at 25100 then 25300 zones. Now it has to hold above 24900 zones for an up move towards 25100 then 25300 levels while supports have shifted higher to 24850 and then 24750 level.

Bank Nifty Technical Outlook

BANK NIFTY (CMP : 55572) 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

ITC

(CMP: 463, Mcap 27,217 Cr.)

• Range breakout on daily scale.

• Respecting 50 DEMA support zones.

• MACD verge of bullish crossover.

• Immediate support at 432

PAYTM

(CMP: 870, Mcap 55,498 Cr.)

• Consolidation breakout on daily scale.

• Surge in volumes with strong bullish candle.

• MACD momentum indicator rising.

• Immediate support at 838.

Derivative Outlook

* Nifty May future closed at 25035.90 with a premium of 34.75 point v/s 26.75 point premium in the last session.

* Nifty Put/Call Ratio (OI) decreased from 1.09 to 1.06 level.

* India VIX increased by 4.30% to 18.02 level.

FII Cash & Derivative Activity

• FIIs on Derivatives front : Long built up in index futures, Call & Put buying in index options.

• In the cash market : FIIs were net buyers to the tune of 136 Cr while DIIs were net buyers worth 1745 Cr.

• FIIs long short ratio : Increased to 34.74%

Nifty : Option Data

• Maximum Call OI is at 26000 then 25000 strike while Maximum Put OI is at 24000 then 24500 strike.

• Call writing is seen at 25000 then 25100 strike while Put writing is seen at 25000 then 24500 strike.

• Option data suggests a broader trading range in between 24500 to 25500 zones while an immediate range between 24800 to 25200 levels.

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