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Nifty Technical Outlook

NIFTY (CMP : 25212)

Nifty immediate support is at 25100 then 25000 zones while resistance at 25350 then 25500 zones. Now it has to continue to hold above 25150 zones for an up move towards 25350 then 25500 zones while support can be seen at 25100 then 25000 zones.

Bank Nifty Technical Outlook

BANK NIFTY (CMP : 57168)

Bank Nifty support is at 57000 then 56750 zones while resistance at 57500 then 57628 zones. Now it needs to hold above 57000 zones for an up move towards 57500 then 57628 marks while on the downside support is seen at 57000 then 56750 zones.

Stocks On Radar

Canara Bank Ltd

(CMP: 117, Mcap Rs. 1,06,154 Cr.)

* Trendline breakout on daily chart.

* Respecting 50 DEMA support zones.

* Higher than average traded volumes.

* RSI momentum indicator rising.

* Immediate support at 111

LT Foods Ltd

(CMP: 502, Mcap Rs. 17,439 Cr.)

* Bullish “Pole & Flag” pattern breakout above 509.

* Respecting 50 DEMA support zones.

* Rising volumes.

* RSI indicator positively placed.

* Immediate support at 477.

Derivative Outlook

* Nifty July future closed at 25245.80 with a premium of 33.75 point v/s 69.8 point premium in the last session.

* Nifty Put/Call Ratio (OI) increased from 0.88 to 0.92 level.

* India VIX decreased by 2.09% to 11.24 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 1795 Cr while DIIs were net buyers worth 1221 Cr.

* FIIs long short ratio : hovering near 18%

Nifty : Option Data

* Maximum Call OI is at 25200 then 25500 strike while Maximum Put OI is at 25200 then 25100 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 24800 to 25600 zones while an immediate range between 25000 to 25400 levels.

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