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Nifty Technical Outlook

NIFTY (CMP : 24625)

Nifty immediate support is at 24442 then 24350 zones while resistance at 24750 then 24850 zones. Now it has to hold above 24442 zones for an up move towards 24750 then 24850 zones while supports can be seen at 24442 and 24350 zones.

Bank Nifty Technical Outlook

BANK NIFTY (CMP : 54002)

Bank Nifty support is at 53750 then 53500 zones while resistance at 54250 then 54500 zones. Now it has to hold above 54000 zones for a bounce towards 54250 then 54500 levels while a hold below the same could see some weakness towards 53750 then 53500 zones.

Technical Stocks On Radar

Bharat Dynamics Ltd

(CMP: 1458, Mcap Rs.53,470 Cr.)

* Positive divergence on daily scale.

* Halted at major support zones.

* RSI momentum indicator giving bullish crossover.

* Immediate resistance at 1380.

Apollo Tyres Ltd

(CMP: 467, Mcap Rs.29,697 Cr.)

* Falling supply trendline breakout above 472.

* Bounce up from 20 DEMA.

* Rising volumes.

* RSI indicator positively placed.

* Immediate support at 455

Nifty : Option Data

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

* Call writing is seen at 24650 then 24700 strike while Put writing is seen at 24500 then 24600 strike.

* Option data suggests a broader trading range in between 24100 to 25100 zones while an immediate range between 24400 to 24900 levels.

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