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Nifty Technical Outlook

NIFTY (CMP : 25149)

Nifty immediate support is at 25000 then 24800 zones while resistance at 25300 then 25450 zones. Now if it holds below 25222 zones then weakness could be seen towards 25000 then 24800 zones while hurdles are shifting lower at 25300 then 25450 zones.

Bank Nifty Technical Outlook

BANK NIFTY (CMP : 56754)

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

JSW Infrastructure Ltd

(CMP: 317, Mcap Rs.66,581 Cr.)

* On verge of breakout above 325.

* Respecting 50 DEMA support zones.

* RSI momentum indicator rising.

* Immediate support at 298.

PAYTM Ltd

(CMP: 951, Mcap Rs.60,693 Cr.)

* Trendline breakout above 960.

* Respecting 50 DEMA.

* Rising volumes.

* RSI indicator positively placed.

* Immediate support at 895.

Derivative Outlook

* Nifty July future closed at 25223.40 with a premium of 73.55 point v/s 66.65 point premium in the last session.

* Nifty Put/Call Ratio (OI) decreased from 0.97 to 0.76 level.

* India VIX increased by 1.24% to 11.82 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 5156 Cr while DIIs were net buyers worth 3483 Cr.

* FIIs long short ratio : Decreased to 20.22%

Nifty : Option Data

* Maximum Call OI is at 25500 then 25300 strike while Maximum Put OI is at 25000 then 25100 strike.

* Call writing is seen at 25300 then 25200 strike while Put writing is seen at 25000 then 25200 strike.

* Option data suggests a broader trading range in between 24600 to 25600 zones while an immediate range between 24900 to 25400 levels

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