IGI Logo

Nifty Technical Outlook

NIFTY (CMP : 24487)

Nifty immediate support is at 24350 then 24250 zones while resistance at 24700 then 24800 zones. Now if it manages to hold above 24442 zones then up move can be seen towards 24700 then 24800 zones while supports can be seen at 24350 then 24250 zones.

Bank Nifty Technical Outlook

BANK NIFTY (CMP : 55043)

Bank Nifty support is at 54750 then 54500 zones while resistance at 55250 then 55555 zones. Now it has to hold above 55000 zones for a bounce towards 55250 then 55555 zones while a hold below the same could see some weakness towards 54750 then 54500 levels.

Stocks On Radar

DMART Ltd

(CMP: 4252, Mcap Rs. 2,76,724 Cr.)

* Bullish “Pennant” pattern.

* Large bodied bullish candle.

* Rising volumes visible.

* MACD indicator headed up.

* Immediate support at 4085.

Hyundai Motor India Ltd

(CMP: 2205, Mcap Rs.1,79,173 Cr.)

* Range breakout on daily chart.

* Respecting 50 DEMA support zones.

* Rising in volumes.

* MACD giving bullish crossover.

* Immediate support at 2120.

Derivative Outlook

* Nifty August future closed at 24554.90 with a premium of 67.50 point v/s 42.85 point premium in the last session.

* Nifty Put/Call Ratio (OI) decreased from 1.03 to 0.78 level.

* India VIX increased by 0.12% to 12.23 level.

FII Cash & Derivative Activity

* FIIs on Derivatives front : Short built up in Index Futures, call and put selling in index options

* In the cash market : FIIs were net sellers to the tune of 3375 Cr and DIIs were net buyers worth 3526 Cr.

* FIIs long short ratio : Slipped below 8% range

Nifty : Option Data

* Maximum Call OI is at 24600 then 24700 strike while Maximum Put OI is at 24500 then 24400 strike.

* Call writing is seen at 24700 then 24600 strike while Put writing is seen at 24550 then 24600 strike.

* Option data suggests a broader trading range in between 24000 to 25000 zones while an immediate range between 24300 to 24700 levels.

For More Research Reports : Click Here 

For More Motilal Oswal Securities Ltd Disclaimer
http://www.motilaloswal.com/MOSLdisclaimer/disclaimer.html
SEBI Registration number is INH000000412