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Nifty Technical Outlook

NIFTY (CMP : 24722)

Nifty immediate support is at 24550 then 24442 zones while resistance at 24900 then 25000 zones. Now if it holds above 24600 zones, then bounce could be seen towards 24900 then 25000 zones while supports are seen at 24550 and 24442 zones.

Bank Nifty Technical Outlook

BANK NIFTY (CMP : 55619)

Bank Nifty support is at 55250 then 55000 zones while resistance at 55750 then 56000 zones. Now till it holds below 55750 zones some weakness could be seen towards 55250 then 55000 zones while on the upside hurdle is seen at 55750 then 56000 levels

Stocks On Radar

HDFC Asset Management Company Ltd

(CMP: 5685, Mcap Rs.1,21,624 Cr.)

* Stock is in an overall uptrend.

* Respecting 20 DEMA support zones.

* Higher than average traded volumes.

* ADX line rising suggesting strength.

* Immediate support at 5500.

NLC India Ltd

(CMP: 244, Mcap Rs.33,834 Cr.)

* Falling supply trendline breakout above 248.

* Strong bodied bullish candle.

* MACD indicator positively placed.

* Immediate support at 233.

Derivative Outlook

* Nifty August future closed at 24,793.10 with a premium of 70.35 point v/s 61.85 point premium in the last session.

* Nifty Put/Call Ratio (OI) increased from o.75 to 0.94 level.

* India VIX marginally decreased by 0.063% to 11.97 level

FII Cash & Derivative Activity

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

* In the cash market : FIIs were net sellers to the tune of 2404 Cr while DIIs were net buyers worth 4257 Cr.

* FIIs long short ratio : hovering near 9%

Nifty : Option Data

* Maximum Call OI is at 25000 then 24800 strike while Maximum Put OI is at 24600 then 24700 strike.

* Call writing is seen at 24850 then 24750 strike while Put writing is seen at 24600 then 24700 strike.

* Option data suggests a broader trading range in between 24200 to 25200 zones while an immediate range between 24500 to 25000 levels.

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