Nifty immediate support is at 25100 then 24900 zones while resistance at 25350 then 25500 zones - Motilal Oswal Wealth Mangement
Nifty Technical Outlook
NIFTY (CMP : 25245)
Nifty immediate support is at 25100 then 24900 zones while resistance at 25350 then 25500 zones. Now it has to hold above 25150, for an up move towards 25350 and 25500 zones while supports can be seen at 25100 then 24900 zones.
Bank Nifty Technical Outlook
BANK NIFTY (CMP : 56621)
Bank Nifty support is at 56250 then 56000 zones while resistance at 56750 then 57000 zones. Now it has to hold above 56500 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
TITAN Ltd
(CMP: 3652 , Mcap ? 3,24,237 Cr.)
• Falling supply trendline breakout.
• Respecting 50 DEMA support zones.
• Surge in traded volumes.
• RSI momentum indicator rising.
• Immediate support at 3550
Birlasoft Ltd
(CMP: 443, Mcap ? 12,329 Cr.)
• Ascending triangle breakout.
• Strong bullish candle.
• Surge in volumes.
• RSI indicator positively placed.
• Immediate support at 420.
Derivative Outlook
* Nifty June future closed at 25250.20 with a premium of 7.45 point v/s 27.35 point premium in the last session.
* Nifty Put/Call Ratio (OI) increased from 0.85 to 1.13 level.
* India VIX decreased by 4.93% to 12.97 level.
FII Cash & Derivative Activity
• FIIs on Derivatives front : Short covering in index futures, call and put buying in index options
• In the cash market : FIIs were net sellers to the tune of 2306 Cr while DIIs were also net buyers worth 2018 Cr.
• FIIs long short ratio : Hovering near 23%
Nifty : Option Data
* Maximum Call OI is at 25300 then 25500 strike while Maximum Put OI is at 25200 then 25000 strike.
* Call writing is seen at 25250 then 25300 strike while Put writing is seen at 25200 then 25150 strike.
* Option data suggests a broader trading range in between 24700 to 25700 zones while an immediate range between 25000 to 25400 levels.
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