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Nifty Technical Outlook

NIFTY (CMP : 25104)

Nifty immediate support is at 25000 then 24850 zones while resistance at 25200 then 25400 zones. Now it has to hold above 25000 zones for an up move towards 25200 then 25400 levels while on the downside supports shifting higher at 25000 and then 24850 zones.

Bank Nifty Technical Outlook

BANK NIFTY (CMP : 56629)

Bank Nifty support is at 56250 then 56000 zones while resistance at 57000 then 57250 zones. Now it has to hold above 56500 zones for an up move towards 57000 then new life time high towards 57250 zones while on the downside support is seen at 56250 then 56000 levels.

Stocks On Radar

GAIL (CMP: 195, Mcap 1,28,655 Cr.)

• Verge of breakout above 197.

• Respecting 50 DEMA support zones.

• Higher than average traded volumes.

• RSI indicator positively placed.

• Immediate support at 190.

MPHASIS

(CMP: 2671, Mcap 50,816 Cr.)

• Ascending triangle breakout on daily chart.

• Rising volumes.

• MACD indicator giving bullish crossover.

• Immediate support at 2560.

Derivative Outlook

* Nifty June future closed at 25,160.60 with a premium of 56.35 point v/s 78.60 point premium in the last session.

* Nifty Put/Call Ratio (OI) decreased from 1.01 to 0.97 level.

* India VIX decreased by 4.83% to 13.98 level.

FII Cash & Derivative Activity

• FIIs on Derivatives front : Position unwinding in index futures, Call selling and Put buying in index options.

• In the cash market : FIIs were net buyers to the tune of 2302 Cr while DIIs were also net buyers worth 1113 Cr.

• FIIs long short ratio : Hovering near 20%

Nifty : Option Data

• Maximum Call OI is at 25200 then 25500 strike while Maximum Put OI is at 25000 then 24500 strike.

• Call writing is seen at 25150 then 25200 strike while Put writing is seen at 25100 then 25000 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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