MOSt Market Outlook : Nifty Put/Call Ratio (OI) increased from 0.77 to 0.82 level by Motilal Oswal Wealth Management
Nifty Technical Outlook
NIFTY (CMP : 24703)
Nifty immediate support is at 24600 then 24444 zones while resistance at 25000 then 25200 zones. Now it has to cross and hold above 24750 zones for an up move towards 25000 then 25200 levels else weakness could be seen towards 24600 and then 24444 level.
Bank Nifty Technical Outlook
BANK NIFTY (CMP : 55856)
Bank Nifty support is at 55750 then 55555 zones while resistance at 56250 then 56500 zones. Now it has to hold above 55750 zones for an up move towards new life time high territory at 56250 then 56500 zones while on the downside support is seen at 55750 then 55555 zones.
Stocks On Radar
AUBANK
(CMP: 718, Mcap 53,526 Cr.)
• Bullish pennant pattern breakout.
• Respecting 20 DEMA.
• Rising volumes.
• RSI positively placed.
• Immediate support at 690.
CAMS
(CMP: 4139, Mcap 20,464 Cr.)
• Symmetrical triangle breakout on daily scale.
• Strong bodied bullish candle.
• Surge in volumes visible.
• MACD momentum indicator rising.
• Immediate support at 3922.
Derivative Outlook
* Nifty June future closed at 24,826.30 with a premium of 109.70 point v/s 120.50 point premium in the last session.
* Nifty Put/Call Ratio (OI) increased from 0.77 to 0.82 level.
* India VIX increased by 6.72% to 17.16 level.
FII Cash & Derivative Activity
• FIIs on Derivatives front : Short built up in index futures, Call and Put buying in index options.
• In the cash market : FIIs were net sellers to the tune of 2589 Cr while DIIs were net buyers worth 5314 Cr.
• FIIs long short ratio : Decreased to 18.73%
Nifty : Option Data
• Maximum Call OI is at 26000 then 25500 strike while Maximum Put OI is at 24000 then 24500 strike.
• Call writing is seen at 24700 then 25600 strike while Put writing is seen at 24600 then 24500 strike.
• Option data suggests a broader trading range in between 24300 to 25300 zones while an immediate range between 24500 to 25000 levels.
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