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Nifty Technical Outlook

NIFTY (CMP : 25709)

Nifty immediate support is at 25600 then 25500 zones while resistance at 25850 then 26000 zones. Now it has to hold above 25600 zones for an up move towards 25850 then 26000 zones while supports have shifted higher to 25600 then 25500 zones.

Bank Nifty Technical Outlook

BANK NIFTY (CMP : 57713)

Bank Nifty support is at 57500 then 57250 zones while resistance at 58000 then 58500 zones. Now it has to hold above 57500 zones for an up move towards new life high territory towards 58000 then 58500 zones while on the downside support is seen at 57500 then 57250 levels.

Midcap100 Index Technical Outlook

* Bearish candle and hovering above 50 DEMA.

Smallcap250 Index Technical Outlook

* Hovering around 50 DEMA and RSI flattish.

Technical Stocks On Radar

Reliance Industries Ltd

(CMP: 1416, Mcap Rs.19,17,280 Cr.)

* “Symmetrical Triangle” pattern breakout.

* Surge in traded volumes visible.

* RSI momentum indicator rising.

* Immediate support at 1375.

Bharti Airtel Ltd

(CMP: 2012, Mcap Rs.12,07,415 Cr.)

* Range breakout on daily chart.

* Strong bodied bullish candle.

* Rising volumes visible.

* RSI indicator positively placed.

* Immediate support at 1950.

Technical Chart Pattern for the Day

* “Symmetrical Traingle” pattern formation; Support : 105, Breakout above: 118

Nifty : Option Data

* Maximum Call OI is at 26000 then 25800 strike while Maximum Put OI is at 25500 then 25700 strike.

* Call writing is seen at 25800 then 25900 strike while Put writing is seen at 25700 then 25600 strike.

* Option data suggests a broader trading range in between 25200 to 26100 zones while an immediate range between 25500 to 25900 levels.

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