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Nifty Technical Outlook

NIFTY (CMP : 25044)

Nifty immediate support is at 24900 then 24800 zones while resistance at 25300 then 25500 zones. Now it has to hold above 25000, for an up move towards 25300 and 25500 zones while supports can be seen at 24900 then 24800 zones.

Bank Nifty Technical Outlook

BANK NIFTY (CMP : 56461)

Bank Nifty support is at 56250 then 56000 zones while resistance at 56750 then 57000 zones. Now it has to hold above 56250 zones for an up move towards 56750 then 57000 levels while on the downside support is seen at 56250 then 56000 zones.

Stocks On Radar

SBI Life Insurance Company Ltd.

 (CMP: 1843, Mcap Rs. 1,84,733 Cr.)

* Range breakout on daily chart.

* Respecting 20 DEMA support zones.

* RSI momentum indicator positively placed.

* Immediate support at 1785.

MARICO Ltd.

(CMP: 703, Mcap Rs. 91,173 Cr.)

* Falling supply trendline breakout above 715.

* Respecting 100 DEMA support levels.

* RSI indicator giving bullish crossover.

* Immediate support at 685.

Derivative Outlook

* Nifty June future closed at 25071.70 with a premium of 27.35 point v/s 21.40 point premium in the last session.

* Nifty Put/Call Ratio (OI) decreased from 1.04 to 0.85 level.

* India VIX decreased by 2.88% to 13.64 level

FII Cash & Derivative Activity

* FIIs on Derivatives front : Short built up in index futures, call and put selling in index options

* In the cash market : FIIs were net sellers to the tune of 2973 Cr while DIIs were net buyers worth 4309 Cr.

* FIIs long short ratio : Hovering near 23%

Nifty : Option Data

* Maximum Call OI is at 25200 then 25500 strike while Maximum Put OI is at 24800 then 25000 strike.

* Call writing is seen at 25100 then 25200 strike while Put writing is seen at 25100 then 25200 strike.

* Option data suggests a broader trading range in between 24600 to 25500 zones while an immediate range between 24800 to 25300 levels.

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