Nifty immediate support is at 22750 then 22500 zone while resistance at 23333 then 23500 zones by Motilal Oswal Wealth Management
Nifty Technical Outlook
NIFTY (CMP : 23002) Nifty immediate support is at 22750 then 22500 zone while resistance at 23333 then 23500 zones. Now till it holds below 23150 zones weakness could be seen towards 22750 then 22500 zones while hurdles have shifted lower to 23333 then 23500 zones.
Bank Nifty Technical Outlook
BANK NIFTY (CMP : 53451) Bank Nifty support is at 53000 then 52750 zones while resistance at 53750 then 54000 zones. Now till it holds below 53750 zones weakness could be seen towards 53000 then 52750 levels while on the upside hurdle is seen at 53750 then 54000 levels.
Sensex Technical Outlook
Sensex (CMP : 74207) Sensex support is at 73800 then 73500 zones while resistance at 74700 then 75000 zones. Now till it holds below 74500 zones, weakness could be seen towards 73800 then 73500 zones while hurdles have shifted lower to 74700 then 75000 zones.
Midcap100 Index Technical Outlook
* Opened gap down and formed a large bearish candlestick.
Smallcap250 Index Technical Outlook
* Opened gap down and hovering around major support zones.
Technical Stocks On Radar
Tata Power Company Ltd
(CMP: 398, Mcap Rs 1,27,334 Cr.)
* Bullish “Pennant” pattern breakout on daily scale.
* RSI indicator confirming positive momentum with heavy volumes.
* Immediate support at 385.
LIC Housing Finance Ltd
(CMP: 483, Mcap Rs 26,596 Cr..)
* Range breakdown on daily chart.
* Respecting 50 DEMA hurdle zones.
* Higher than average traded volumes.
* RSI indicator declining
* Immediate resistance at 500.
Nifty : Option Data
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