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Nifty Technical Outlook

NIFTY (CMP : 24870)

Nifty immediate support is at 24700 then 24600 zones while resistance at 25150 then 25250 zones. . Now it has to cross and hold above 25000 zones for an up move towards 25150 then 25250 zones while supports have shifted lower to 24700 then 24600 zones

Bank Nifty Technical Outlook

BANK NIFTY (CMP : 55149)

Bank Nifty support is at 55000 then 54500 zones while resistance at 55555 then 56750 zones. Now till it holds below 55555 zones some weakness could be seen towards 55000 then 54500 levels while on the upside hurdle is seen at 55555 then 55750 zones.

Stocks On Radar

CG Power and Industrial Solutions Ltd

(CMP: 680, Mcap Rs.1,07,049 Cr.)

* Falling supply trendline breakout above 690.

* Respecting 200 DEMA support zones.

* Surge in volumes visible.

* RSI indicator rising.

* Immediate support at 646

Zydus Lifesciences Ltd 

(CMP: 989, Mcap Rs.99,496 Cr.)

* Consolidation breakout above 1003.

* Bounce up from 200 DEMA

* High volumes on up moves.

* RSI momentum indicator rising.

* Immediate support at 940.

Nifty : Option Data

• Maximum Call OI is at 25000 then 25100 strike while Maximum Put OI is at 25000 then 24900 strike.

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

• Option data suggests a broader trading range in between 24400 to 25400 zones while an immediate range between 24600 to 25100 levels.

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