Nifty immediate support is at 25300 then 25222 zones while resistance at 25650 then 25800 zones - Motilal Oswal Wealth Mangement
Nifty Technical Outlook
NIFTY (CMP : 25461) Nifty immediate support is at 25300 then 25222 zones while resistance at 25650 then 25800 zones. Now it has to cross and hold above 25500 zones, for an up move towards 25650 and then 25800 else weakness can be seen towards 25300 then 25222 zones.
Bank Nifty Technical Outlook
BANK NIFTY (CMP : 57031) Bank Nifty support is at 56750 then 56500 zones while resistance at 57250 then 57500 zones. Now it needs to hold above 57000 zones for an up move towards 57250 then 57500 levels while on the downside support is seen at 56750 then 56500 zones.
Stocks On Radar
AUROPHARMA
(CMP: 1191, Mcap ? 69,803 Cr.)
* Falling supply trendline breakout.
* Surpassed above 50 DEMA.
* Rising volumes.
* MACD indicator giving bullish crossover.
* Immediate support at 1115.
Indraprastha Gas Ltd
(CMP: 226, Mcap ? 31,654 Cr.)
* Consolidation breakout on daily chart.
* Strong bodied bullish candle.
* Respecting 50 DEMA.
* RSI momentum indicator positively placed.
* Immediate support at 215.
Derivative Outlook
* Nifty July future closed at 25540.10 with a premium of 79.10 point v/s 103.30 point premium in the last session.
* Nifty Put/Call Ratio (OI) decreased from 0.99 to 0.93 level.
* India VIX decreased by 0.57% to 12.32 level.
FII Cash & Derivative Activity
* FIIs on Derivatives front : Short built up in index futures, call buying and put selling in index options.
* In the cash market : FIIs were net sellers to the tune of 581 Cr and DIIs were also net sellers worth 1119 Cr.
* FIIs long short ratio : decreased to 28.63%
Nifty : Option Data
* Maximum Call OI is at 25500 then 26000 strike while Maximum Put OI is at 25400 then 25200 strike.
* Call writing is seen at 25400 then 26000 strike while Put writing is seen at 25300 then 25200 strike.
* Option data suggests a broader trading range in between 25000 to 26000 zones while an immediate range between 25300 to 25700 levels.
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