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Nifty Technical Outlook

NIFTY (CMP : 25219)

Nifty immediate support is at 25100 then 25000 zones while resistance at 25350 then 25500 zones. Now it has to hold above 25150 zones, for a bounce towards 25350 then 25500 zones while supports are placed at 25100 then 25000 zones

Bank Nifty Technical Outlook

BANK NIFTY (CMP : 57210)

Bank Nifty support is at 57000 then 56750 zones while resistance at 57500 then 57628 zones. Now it has 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

CASTROL

(CMP: 228, Mcap Rs. 22,617 Cr.)

* On verge of trend line breakout.

* Surge in volumes .

* Holding 50 DEMA.

* RSI giving bullish cross over .

* Immediate support at 220.

JINDAL STEEL

(CMP: 977, Mcap Rs. 99,903 Cr.)

* Trend line breakout above 985 marks.

* Range breakout on weekly chart.

* Volumes picking up .

* RSI positively placed.

* Immediate support at 955.

Derivative Outlook

* Nifty July future closed at 25252.80 with a premium of 32.90 point v/s 33 point premium in the last session.

* Nifty Put/Call Ratio (OI) increased from 0.84 to 1.14 level.

* India VIX decreased by 2.21% to 10.52 level.

FII Cash & Derivative Activity

* FIIs on Derivatives front : Long build up along with short covering in index futures, call unwinding and put selling in index options.

* In the cash market : FIIs were net sellers to the tune of 2422 Cr while DIIs were net buyers worth 2945 Cr.

* FIIs long short ratio : hovering near 15%

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 25450 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 25050 to 25400 levels.

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