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Nifty Technical Outlook

NIFTY (CMP : 25111)

Nifty immediate support is at 25000 then 24800 zones while resistance at 25250 then 25350 zones. Now till it holds below 25150 zones, weakness could be seen towards 25000 then 24800 zones while hurdles are placed at 25250 then 25350 zones.

Bank Nifty Technical Outlook

BANK NIFTY (CMP : 56828)

Bank Nifty support is at 56500 then 56250 zones while resistance at 57000 then 57250 zones. Now till it holds below 57000 zones some weakness could be seen towards 56500 then 56250 levels while on the upside hurdle is seen at 57000 then 57250 zones.

Stocks On Radar 

Torrent Pharmaceuticals Ltd

(CMP: 3504, Mcap Rs.1,18,606 Cr.)

* Consolidation breakout on daily scale.

* Strong bodied bullish candle.

* Rising traded volumes.

* MACD momentum indicator rising.

* Immediate support at 3400.

TTK Prestige Ltd

(CMP: 1783, Mcap Rs.76,808 Cr.)

* Range breakout on daily chart.

* Strong bodied bullish candle.

* Respecting 50 DEMA support zones.

* Higher than average traded volumes.

*  RSI momentum indicator rising.

* Immediate support at 1700.

Derivative Outlook

* Nifty July future closed at 25174.60 with a premium of 63.15 point v/s 33.75 point premium in the last session.

* Nifty Put/Call Ratio (OI) increased from 0.92 to 0.94 level.

* India VIX increased by 0.022% to 11.24 level.

FII Cash & Derivative Activity

* FIIs on Derivatives front : Short built up in index futures, position unwinding in index options

* In the cash market : FIIs were net sellers to the tune of 3671 Cr while DIIs were net buyers worth 2718 Cr.

* FIIs long short ratio : decreased to 16.72%

Nifty : Option Data

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

* Call writing is seen at 25200 then 25500 strike while Put writing is seen at 25200 then 25100 strike.

* Option data suggests a broader trading range in between 24600 to 25600 zones while an immediate range between 24900 to 25300 levels.

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