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Nifty Technical Outlook

NIFTY (CMP : 25541)

Nifty immediate support is at 25400 then 25250 zones while resistance at 25650 then 25750 zones. now if it manages to hold above 25500, up move could be seen towards 25650 and 25750 zones while supports can be seen at 25400 then 25250 zones.

Bank Nifty Technical Outlook

BANK NIFTY (CMP : 57459)

Bank Nifty support is at 57000 then 56750 zones while resistance at 57615 then 58000 zones. Now it has to hold above 57250 zones for an up move towards 57615 then new life high territory towards 58000 levels while on the downside support is seen at 57000 then 56750 zones.

Stocks On Radar

UltraTech Cement Ltd

(CMP: 12210, Mcap Rs. 3,59,803 Cr.)

* Verge if consolidation breakout above 12340.

* Higher than average traded volumes.

* RSI indicator positively placed.

* Immediate support at 11900.

Bharat Dynamics Ltd

(CMP: 1980, Mcap Rs. 72,590 Cr.)

* Retesting breakout zones and inching higher.

* Respecting 20 DEMA.

* RSI giving bullish crossover.

* Immediate support at 1880.

Derivative Outlook

* Nifty July future closed at 25643.30 with a premium of 101.50 point v/s 97.15 point premium in the last session.

* Nifty Put/Call Ratio (OI) increased from 0.81 to 0.88 level.

* India VIX decreased by 2.01% to 12.53 level.

FII Cash & Derivative Activity

* FIIs on Derivatives front : Short built up in index futures, call and put buying in index options.

* In the cash market : FIIs were net sellers to the tune of 1970 Cr while DIIs were net buyers worth 726 Cr.

* FIIs long short ratio : increased to 36.66%

Nifty : Option Data

* Maximum Call OI is at 25600 then 26000 strike while Maximum Put OI is at 25500 then 25000 strike.

* Call writing is seen at 25550 then 25600 strike while Put writing is seen at 25500 then 25400 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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