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Nifty Technical Outlook

NIFTY (CMP : 25195)

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 : 57006)

Bank Nifty support is at 56750 then 56500 zones while resistance at 57250 then 57500 zones. Now it needs to hold above 56750 zones for an up move towards 57250 then 57500 levels while on the downside support is seen at 56750 then 56500 zones.

Technical Trading Idea

State Bank of India Ltd

(CMP: 816, Mcap Rs.7,28,651 Cr.)

* Falling supply trendline breakout above 822.

* Respecting 50 DEMA support zones.

* Higher than average traded volumes.

* RSI momentum indicator rising.

* Immediate support at 797

Marico Ltd 

(CMP: 740, Mcap Rs.60,693 Cr.)

* Verge of consolidation breakout above 745.

* Respecting 50 DEMA support zones.

* MACD indicator positively placed.

* Immediate support at 712.

Derivative Outlook

* Nifty July future closed at 25265.60 with a premium of 69.80 point v/s 85.20 point premium in the last session.

* Nifty Put/Call Ratio (OI) increased from 0.72 to 0.88 level.

* India VIX decreased by 4.17% to 11.48 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 buyers to the tune of 105 Cr while DIIs were also net buyers worth 1478 Cr.

* FIIs long short ratio : Increased to 18.67%

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 25250 strike while Put writing is seen at 25200 then 25100 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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