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Nifty Technical Outlook

NIFTY (CMP : 24712)

Nifty immediate support is at 24650 then 24500 zones while resistance at 24850 then 25000 zones. Now till it holds below 24850 zones weakness could be seen towards 24650 then 24500 zones while hurdles can be seen at 24850 then 25000 zones.

Bank Nifty Technical Outlook

BANK NIFTY (CMP : 54450)

Bank Nifty support is at 54000 then 53750 zones while resistance at 54750 then 55000 zones. Now till it holds below 54750 zones some weakness could be seen towards 54000 then 53750 levels while on the upside hurdle is seen at 54750 then 55000 zones.

Technical Stocks On Radar

Hindustan Unilever Ltd

(CMP: 2692, Mcap Rs.6,32,651 Cr.)

* Bullish “Mat Hold” continuation pattern.

* Consolidation breakout on daily scale..

* Surge in volumes visible.

* RSI indicator positively placed.

* Immediate support at 2600.

Canara Bank Ltd

(CMP: 106, Mcap Rs. 96,158 Cr.)

* Breakdown from “Descending Triangle” pattern.

* Large bearish candle.

* Breach below 100 DEMA support.

* RSI momentum indicator declining.

* Immediate resistance at 108.

Nifty Expiry Outlook

• Maximum Call OI is at 25000 then 24800 strike while Maximum Put OI is at 24700 then 24500 strike • Call writing is seen at 24800 then 24900 strike while Put writing is seen at 24750 then 24700 strike • Option data suggests a broader trading range in between 24200 to 25200 zones while an immediate range between 24500 to 24900 levels

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