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Nifty Technical Outlook

NIFTY (CMP : 25884)

Nifty immediate support is at 25750 then 25600 zones while resistance at 26000 then 26100 zones. Now till it holds below 26000 zones weakness could be seen towards 25750 then 25600 zones while hurdles have shifted lower to 26000 then 26100 zones.

Bank Nifty Technical Outlook

BANK NIFTY (CMP : 58820)

Bank Nifty support is at 58650 then 58500 zones while resistance at 59000 then 59350 zones. Now it has to hold above 58750 zones for an up move towards 59000 then 59350 zones while on the downside support is seen at 58650 then 58500 levels.

Midcap100 Index Technical Outlook

* Hovering around 20 DEMA support levels and formed a small bodied candle.

Smallcap250 Index Technical Outlook

* Breakdown below support zones and RSI weak.

Technical Stocks On Radar

Trent Ltd

(CMP: 4266, Mcap Rs.1,50,865 Cr.)

* Breakdown below support zones.

* Higher than average selling volumes.

* RSI momentum indicator weak.

* Immediate resistance at 4425

Latent View Analytics Ltd

(CMP: 499, Mcap Rs.10,314 Cr.)

* Consolidation breakout on daily chart.

* Respecting 20 DEMA.

* Surge in volumes.

* RSI momentum indicator positively placed.

* Immediate support at 470.

Technical Chart Pattern for the Day

* ‘Bullish Engulfing” candlestick pattern at 50 DEMA, Support : 520 ; Resistance : 570

Nifty : Option Data

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

* Call writing is seen at 26000 then 26500 strike while Put writing is seen at 26000 then 25500 strike.

* Option data suggests a broader trading range in between 25400 to 26300 zones while an immediate range between 25700 to 26100 levels.

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