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Nifty Technical Outlook

NIFTY (CMP : 25003) Nifty immediate support is at 24850 then 24700 zones while resistance at 25200 then 25400 zones. Now it has to hold above 25000 zones for an up move towards 25200 then 25400 levels while on the downside support is seen at 24850 then 24700 zones.

Bank Nifty Technical Outlook

BANK NIFTY (CMP : 56578) Bank Nifty support is at 56250 then 56000 zones while resistance at 57000 then 57250 zones. Now it has to hold above 56250 zones for an up move towards new life time high territory of 57000 then 57250 levels while on the downside support is seen at 56250 then 56000 zones

Stocks On Radar

M&M

(CMP: 3106, Mcap 3,86,302 Cr.)

• Retesting breakout zones and headed up.

• Bounce from 50 DEMA.

• Higher than average traded volumes.

• MACD verge of bullish crossover.

• Immediate support at 2962.

MINDACORP

(CMP: 560, Mcap 13,390 Cr.)

• Falling supply trendline breakout.

• Strong bodied bullish candle.

• Rising volumes.

• MACD momentum indicator headed up.

• Immediate support at 525.

Derivative Outlook

? Nifty June future closed at 25,096.30 with a premium of 93.25 point v/s 110.50 point premium in the last session.

? Nifty Put/Call Ratio (OI) increased from 0.98 to 1.05 level.

? India VIX decreased by 3.00% to 14.63 level.

FII Cash & Derivative Activity

• FIIs on Derivatives front : Short covering along with long built up in index futures, call and put buying in index options.

• In the cash market : FIIs were net buyers to the tune of 1010 Cr while DIIs were also net buyers worth 9342 Cr.

• FIIs long short ratio : Increased to 20.87%

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