Nifty immediate support is at 24750 then 24600 zones while resistance at 25000 then 25200 zones - Motilal Oswal Wealth Management

Nifty Technical Outlook
NIFTY (CMP : 24894)
Nifty immediate support is at 24750 then 24600 zones while resistance at 25000 then 25200 zones. Now it has to hold above 24800 zones for an up move towards 25000 then 25200 zones while on the downside support has shifting higher to 24750 then 24600 levels.
Bank Nifty Technical Outlook
BANK NIFTY (CMP : 55589)
Bank Nifty support is at 55250 then 55000 zones while resistance at 56000 then 56250 zones. Now it has to hold above 55350 zones for an up move towards 56000 then 56250 zones while on the downside support is seen at 55250 then 55000 levels.
Technical Stocks On Radar
Hero Motocorp Ltd
* Range breakout on daily chart.
* Respecting 20 DEMA.
* Higher than average traded volumes.
* RSI momentum indicator rising.
* Immediate support at 5359.
JK Paper Ltd
* Consolidation Breakout on daily chart.
* Bounce from 200 DEMA.
* Strong bullish candle.
* Surge in volumes.
* MACD giving bullish crossover.
* Immediate support at 406.
Nifty : Option Data
* Maximum Call OI is at 25000 then 24900 strike while Maximum Put OI is at 24800 then 24700 strike.
* Call writing is seen at 24900 then 25000 strike while Put writing is seen at 24800 then 24850 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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Nifty immediate support is at 25000 then 24800 zones while resistance at 25250 then 25350 zo...


