Nifty immediate support is at 23150 then 23050 zone while resistance at 23500 then 23650 zones by Motilal Oswal Wealth Management
Nifty Technical Outlook
NIFTY (CMP : 23306) Nifty immediate support is at 23150 then 23050 zone while resistance at 23500 then 23650 zones. Now it has to hold above 23250 zones for an up move towards 23500 then 23650 zones while supports have shifted higher to 23150 then 23050 zones.
Bank Nifty Technical Outlook
BANK NIFTY (CMP : 53674) Bank Nifty support is at 53500 then 53000 zones while resistance at 54000 then 54500 zones. Now it has to hold above 53500 zones for a bounce towards 54000 then 54500 zones while on the downside support is seen at 53500 then 53000 levels.
Sensex Technical Outlook
Sensex (CMP : 75273) Sensex support is at 74800 then 74500 zones while resistance at 75800 then 76200 zones. Now it has to hold above 74800 zones for a bounce towards 75800 then 76200 levels while supports have shifted higher to 74800 then 74500 zones.
Midcap100 Index Technical Outlook
* The index witnessed a slight pullback move while RSI indicator bounced up from oversold zone
Smallcap250 Index Technical Outlook
* The index witnessed a slight pullback move while RSI indicator bounced up from oversold zone.
USD/INR Spot Rate
* Hovering around 94.14 Rupees per US Dollar.
Brent Crude Oil Spot Rate
* Brent crude oil spot rate at 100.42 USD per Barrel.
Technical Stocks On Radar
Cummins India Ltd
(CMP: 4738, Mcap Rs 1,31,354 Cr.)
* Retesting breakout zone on daily chart.
* Respecting 50 DEMA support.
* High traded volumes.
* RSI indicator giving bullish crossover.
* Immediate support at 4570.
Lodha Developers Ltd
(CMP: 734, Mcap Rs 73,305 Cr.)
* Overall downtrend.
* Strong bodied bearish candle.
* Surge in traded volumes
* RSI momentum indicator declining.
* Immediate resistance at 810.
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 23400 then 23300 strike while Put writing is seen at 23200 then 23400 strike.
* Option data suggests a broader trading range in between 22800 to 23800 zones while an immediate range between 23000 to 23500 levels.
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