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Nifty Technical Outlook

NIFTY (CMP : 24741)

Nifty immediate support is at 24650 then 24500 zones while resistance at 24850 then 25000 zones. Now it has to hold above 24700 zones for an up move towards 24850 then 25000 zones while supports can be seen at 24650 and 24500 zones.

Bank Nifty Technical Outlook

BANK NIFTY (CMP : 54114)

Bank Nifty support is at 53750 then 53500 zones while resistance at 54500 then 54750 zones. Now it has to hold above 54000 zones for an up move towards 54500 then 54750 zones while on the downside support is seen at 53750 then 53500 levels.

Technical Stocks On Radar

NMDC Ltd 

(CMP: 74.53, Mcap Rs.65,525 Cr.)

* Retesting breakout from “Descending Triangle” formation.

* High volumes on up moves.

* MACD indicator giving bullish crossover.

* Immediate support at 71.50.

Astral Ltd

(CMP: 1455, Mcap Rs.39,084 Cr.)

* Range breakout on daily scale.

* Surpassed above 50 DEMA.

* Rising volumes visible.

* RSI momentum indicator positively placed.

* Immediate support at 1400.

Nifty : Option Data

* Maximum Call OI is at 25000 then 24800 strike while Maximum Put OI is at 24500 then 24700 strike.

* Call writing is seen at 24800 then 25000 strike while Put writing is seen at 24700 then 24800 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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