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Nifty Technical Outlook

NIFTY (CMP : 24968)

Nifty immediate support is at 24800 then 24650 zones while resistance at 25150 then 25250 zones. Now till it holds below 25000 zones, weakness could be seen towards 24800 then 24650 zones while hurdles are placed at 25150 then 25250 zones.

Bank Nifty Technical Outlook

BANK NIFTY (CMP : 56283)

Bank Nifty support is at 56000 then 55750 zones while resistance at 56500 then 56750 zones. Now till it holds below 56500 zones weakness could be seen towards 56000 then 55750 levels while on the upside hurdle is seen at 56500 then 56750 zones.

Stocks On Radar

AMBUJA CEMENTS Ltd

(CMP: 597, Mcap Rs. 1,46,975 Cr.)

* On verge of breakout.

* Small bodied bullish candle.

* Buying visible across Cement space.

* RSI momentum indicator rising.

* Immediate support at 580.

SHRIRAM FINANCE Ltd

(CMP: 647, Mcap Rs. 1,21,403 Cr.)

* Trend line break down on daily chart.

* Big bearish candle.

* Higher than average traded volumes.

* RSI momentum indicator weakening.

* Immediate hurdle at 670

Derivative Outlook

* Nifty July future closed at 25,032.30 with a premium of 63.90 point v/s 63.15 point premium in the last session.

* Nifty Put/Call Ratio (OI) decreased from 0.94 to 0.78 level.

* India VIX increased by 1.33% to 11.38 level.

FII Cash & Derivative Activity

* FIIs on Derivatives front :

Short built up in index futures, call selling and put buying in index options

* In the cash market : FIIs were net sellers to the tune of 2895 Cr while DIIs were net buyers worth 1663 Cr.

* FIIs long short ratio : Decreased to 15.02%

Nifty : Option Data

* Maximum Call OI is at 25100 then 25200 strike while Maximum Put OI is at 25000 then 24900 strike.

* Call writing is seen at 25100 then 25000 strike while Put writing is seen at 25000 then 24900 strike.

* Option data suggests a broader trading range in between 24500 to 25500 zones while an immediate range between 24700 to 25200 levels.

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