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Nifty Technical Outlook

NIFTY (CMP : 24890)

Nifty immediate support is at 24750 then 24600 zones while resistance at 25000 then 25150 zones. Now till it holds below 25000 zones weakness could be seen towards 24750 then 24600 zones while hurdles have shifted lower to 25000 then 25150 zones.

Bank Nifty Technical Outlook

BANK NIFTY (CMP : 54976)

Bank Nifty support is at 54750 then 54500 zones while resistance at 55250 then 55555 zones. Now it has to hold above 55000 zones for a bounce towards 55250 then 55555 zones while a hold below the same could see weakness towards 54750 then 54500 levels.

Technical Stocks On Radar

Multi Commodity Exchange Of India Ltd

(CMP: 8023, Mcap Rs.40,916 Cr.)

* Narrow range breakout above 8150.

* Accumulation visible.

* RSI momentum indicator rising.

* Immediate support at 7760.

Poonawalla Fincorp Ltd

(CMP: 493, Mcap Rs.38,450 Cr.)

* Retesting breakout zones from symmetrical triangle pattern.

* High volumes on up moves.

* RSI indicator headed up.

* Immediate support at 475

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 25100 strike while Put writing is seen at 24900 then 24800 strike.

* Option data suggests a broader trading range in between 24400 to 25400 zones while an immediate range between 24700 to 25100 levels.

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