IGI Logo

Nifty Technical Outlook

NIFTY (CMP : 24853)

Nifty immediate support is at 24700 then 24600 zones while resistance at 25000 then 25250 zones. Now it has to hold above 24800 zones for an upside move towards 25000 then 25250 zones while supports can be seen at 24700 then 24600 zones.

Bank Nifty Technical Outlook

BANK NIFTY (CMP : 55663)

Bank Nifty support is at 55555 then 55250 zones while resistance at 56000 then 56250 zones. Now it has to hold above 55750 zones for a bounce towards 56000 then 56250 levels while a hold below the same could see some weakness towards 55555 then 55250 zones.

Stocks On Radar

Persistent Systems Ltd 

(CMP: 6068, Mcap Rs.94,904 Cr.)

* Falling supply trendline breakout.

* Bounce from 50 DEMA support zones.

* Higher than average traded volumes.

* RSI momentum indicator positively placed.

* Immediate support at 5905.

Mahanagar Gas Ltd 

(CMP: 1433, Mcap Rs.14,160 Cr.)

* Consolidation breakout above 1447.

* Accumulation visible.

* RSI momentum indicator rising.

* Immediate support at 1376.

Derivative Outlook

* Nifty June future closed at 24,853.40 with a premium of 15.40 point v/s 49.70 point premium in the last session.

* Nifty Put/Call Ratio (OI) decreased from 1.14 to 0.95 level.

* India VIX decreased by 2.93% to 14.40 level.

FII Cash & Derivative Activity

* FIIs on Derivatives front : Long built up in index futures, Call buying and Put selling in index options.

* In the cash market : FIIs were net buyers to the tune of 1616 Cr while DIIs were also net buyers worth 7797 Cr.

* FIIs long short ratio : Hovering near 20%

Nifty : Option Data

* Maximum Call OI is at 25000 then 25500 strike while Maximum Put OI is at 24000 then 24800 strike.

* Call writing is seen at 24900 then 25000 strike while Put writing is seen at 24000 then 24850 strike.

* Option data suggests a broader trading range in between 24500 to 25250 zones while an immediate range between 24700 to 25100 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