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Nifty Technical Outlook

NIFTY (CMP : 23250)  

Nifty immediate support is at 23150 then 23000 zones while resistance at 23400 then 23550 zones. Now it has to cross and hold above 23250 zones for strength to commence towards 23400 then 23550 zones whereas supports are placed at 23150 and 23000 zones.

Bank Nifty Technical Outlook

BANK NIFTY (CMP : 51597) 

Bank Nifty support is at 51250 then 51000 zones while resistance at 52000 then 52250 zones. Now it has to hold above 51250 zones for an up move towards 52000 then 52250 zones while on the downside support is seen at 51250 then 51000 levels.

UNIONBANK

(CMP: 131, Mcap 1,00,222 Cr.)

* Consolidation Breakout on daily chart.

* Strong bullish candlestick.

* Surge in volumes visible.

* RSI Indicator suggesting strength.

* Immediate support at 126

JUBLFOOD

(CMP: 692, Mcap 45,707 Cr.)

* Falling Trendline Breakout above 695.

* Higher lows formation.

* Rising volumes on daily scale.

* RSI momentum indicator positively placed.

* Immediate support at 675

Derivative Outlook

* Nifty April future closed at 23,325.95 with a premium of 75.85 point v/s 106.60 point premium in the last session.

* Nifty Put/Call Ratio (OI) increased from 0.96 to 1.12 level.

* India VIX decreased by 0.89% to 13.60 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 2806 Cr while DIIs were net buyers worth 222 Cr.

* FIIs long short ratio : Decreased to 30.13%

Nifty : Option Data

* Maximum Call OI is at 24000 then 23500 strike while Maximum Put OI is at 23000 then 23200 strike.

* Call writing is seen at 23300 then 23600 strike while Put writing is seen at 22800 then 23000 strike.

* Option data suggests a broader trading range in between 22700 to 23700 zones while an immediate range between 23100 to 23500 levels.

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