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Nifty Technical Outlook

NIFTY (CMP : 25877)

Nifty immediate support is at 25700 then 25600 zones while resistance at 26100 then 26277 zones. Now it has to cross and hold above 25900 zones to again regain strength towards 26100 then 26277 zones while supports can be seen at 25700 then 25600 zones.

Bank Nifty Technical Outlook

BANK NIFTY (CMP : 58031)

Bank Nifty support is at 57750 then 57500 zones while resistance at 58350 then 58577 zones. Now it has to hold above 58000 zones for an up move towards 58350 then 58577 levels while on the downside support is seen at 57750 then 57500 zones.

Midcap100 Index Technical Outlook

* Range Breakout on daily chart and RSI indicator rising.

Smallcap250 Index Technical Outlook.

* Falling supply trendline breakout and RSI indicator rising.

USD/INR Spot Rate

* Sharp recovery from 50 DEMA support zones.

Technical Stocks On Radar

LTIMindtree Ltd

(CMP: 5699, Mcap Rs.1,68,969 Cr.)

* Bullish “Pennant” pattern formation

* Strong bullish candle.

* RSI indicator giving bullish crossover.

* Immediate support at 5520

Welspun Corp Ltd

(CMP: 926, Mcap Rs.31,109 Cr.)

* Falling Supply trendline breakout.

* Bounce up from 200 DEMA.

* Rise in traded volumes.

* RSI indicator positively placed.

* Immediate support at 884.

Technical Chart Pattern for the Day

* “Symmetrical Triangle” pattern breakout; Support : 222, Resistance : 255

Nifty : Option Data

* Maximum Call OI is at 26000 then 26100 strike while Maximum Put OI is at 25900 then 25500 strike.

* Call writing is seen at 26000 then 25900 strike while Put writing is seen at 25900 then 25950 strike.

* Option data suggests a broader trading range in between 25400 to 26300 zones while an immediate range between 25600 to 26100 levels.

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