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Nifty Technical Outlook

NIFTY (CMP : 25868)

Nifty immediate support is at 25650 then 25500 zones while resistance at 26000 then 26250 zones. Now it has to hold above 25750 zones for an up move towards 26000 then 26250 zones while supports have shifted higher to 25650 then 25500 zones.

Bank Nifty Technical Outlook

BANK NIFTY (CMP : 58007)

Bank Nifty support is at 57750 then 57500 zones while resistance at 58261 then 58500 zones. Now it has to hold above 57750 zones for an up move towards 58261 marks then 58500 zones while on the downside support is seen at 57750 then 57500 levels.

Midcap100 Index Technical Outlook

* Inching higher and RSI indicator rising.

Smallcap250 Index Technical Outlook

* Range breakout and RSI momentum indicator rising.

Technical Stocks On Radar

BAJAJFINSV

(CMP: 2169, Mcap Rs. 3,46,582 Cr.)

* Range Breakout at “All Time High” Zones.

* Bounce up from 50 DEMA.

* Rising Volumes.

* RSI momentum indicator rising.

* Immediate support at 1375

UNIONBANK

(CMP: 141, Mcap Rs. 1,08,138 Cr.)

* Range breakout on daily chart.

* Formed a base around 50 DEMA.

* Surge in volumes visible.

* RSI indicator positively placed.

* Immediate support at 137.

Technical Chart Pattern for the Day

* “Ascending Triangle” pattern formation; Support : 495, Breakout above: 540

Nifty : Option Data

* Maximum Call OI is at 26000 then 26500 strike while Maximum Put OI is at 25500 then 25000 strike.

* Call writing is seen at 26000 then 25900 strike while Put writing is seen at 25700 then 25900 strike.

* Option data suggests a broader trading range in between 25300 to 26300 zones while an immediate range between 25600 to 26100 levels.

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