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Nifty Technical Outlook

NIFTY (CMP : 25891) Nifty immediate support is at 25800 then 25700 zones while resistance at 26000 then 26277 zones. Now it has to hold above 25800 zones for an up move towards 26000 then 26277 zones while supports have shifted higher to 25800 then 25700 zones.

Bank Nifty Technical Outlook

BANK NIFTY (CMP : 58078)

Bank Nifty support is at 58000 then 57750 zones while resistance at 58577 then 58750 zones. Now it has to hold above 58000 zones for an up move towards 58577 marks then new life high territory towards 58750 zones while on the downside support is seen at 58000 then 57750 levels.

Midcap100 Index Technical Outlook

* Small Bodied Bearish candles and RSI positively placed.

Smallcap250 Index Technical Outlook

* Small bodied candle and hovering above 50 DEMA.

Technical Stocks On Radar

DIXON Ltd

(CMP: 15650, Mcap ? 94,468 Cr.)

* “Head & Shoulder” Pattern breakdown.

* Strong bearish candle.

* Rising selling volumes.

* RSI momentum indicator declining.

* Immediate resistance at 16325.

Bharat Forge Ltd

(CMP: 1300, Mcap ? 62,156 Cr.)

* Falling supply trendline breakout.

* Formed a base around 50 DEMA.

* Surge in volumes visible.

* RSI indicator positively placed.

* Immediate support at 1235.

Nifty : Option Data

* Maximum Call OI is at 26500 then 26200 strike while Maximum Put OI is at 25500 then 26000 strike.

* Call writing is seen at 26100 then 26200 strike while Put writing is seen at 26000 then 26100 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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