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Nifty Technical Outlook

NIFTY (CMP : 25966)

Nifty immediate support is at 25800 then 25700 zones while resistance at 26100 then 26277 zones. Now it has to hold above 25900 zones for an up move towards 26100 then 26277 zones while supports can be seen at 25800 then 25700 zones.

Bank Nifty Technical Outlook

BANK NIFTY (CMP : 57699)

Bank Nifty support is at 57750 then 57500 zones while resistance at 58250 then 58577 zones. Now it has to hold above 58000 zones for an up move towards 58250 then 58577 zones while on the downside support is seen at 57750 then 57500 levels.

Midcap100 Index Technical Outlook

* Verge of range breakout on daily chart.

Smallcap250 Index Technical Outlook

* Verge of falling supply trendline breakout.

Technical Stocks On Radar

Oberoi Realty Ltd

(CMP: 1736, Mcap Rs. 63,121 Cr.)

* Consolidation breakout on daily chart.

* Surpassed above 50 DEMA.

* Rising volumes.

* RSI momentum indicator rising.

* Immediate support at 1650.

CDSL Ltd

(CMP: 1636, Mcap Rs. 34,203 Cr.)

* Bullish “Pole & Flag” pattern breakout.

* Bounce up from 50 DEMA.

* Accumulation visible.

* RSI indicator giving a positive crossover.

* Immediate support at 1557.

Technical Chart Pattern for the Day

Canara Bank Ltd

(Mcap Rs. 1,17,129 Cr.) (CMP : 129)

* Bullish “Pole & Flag” pattern formation; Support : 124.5, Breakout above : 130

Nifty : Option Data

* Maximum Call OI is at 26000 then 26200 strike while Maximum Put OI is at 25900 then 25800 strike

* Call writing is seen at 26050 then 26100 strike while Put writing is seen at 25900 then 26000 strike.

* Option data suggests a broader trading range in between 25600 to 26400 zones while an immediate range between 25800 to 26300 levels.

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