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Nifty Technical Outlook

NIFTY (CMP : 25959)

Nifty immediate support is at 25850 then 25750 zones while resistance at 26100 then 26250 zones. Now it has to cross and hold above 26000 zones for an up move towards 26100 then 26250 zones while a hold below the same could see some weakness towards 25850 then 25750 levels.

Bank Nifty Technical Outlook

BANK NIFTY (CMP : 58835)

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 a hold below the same could see some weakness towards 58650 then 58500 levels.

Midcap100 Index Technical Outlook

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

Smallcap250 Index Technical Outlook

* Breakdown below support zones and RSI weak.

Technical Stocks On Radar

Bajaj Finance Ltd

(CMP: 994, Mcap rs. 6,18,515 Cr.)

* Breakdown below support zones.

* Higher than average selling volumes.

* RSI momentum indicator weak.

* Immediate resistance at 1015.

Hindustan Zinc Ltd

(CMP: 454, Mcap Rs. 1,91,829 Cr.)

* Range breakdown on daily chart.

* Surge in selling volumes.

* RSI momentum indicator declining.

* Immediate resistance at 465.

Technical Chart Pattern for the Day

* Bullish “Double Bottom” pattern breakdown, Support : 1445 ; Resistance : 1570

Nifty : Option Data

* Maximum Call OI is at 26100 then 26200 strike while Maximum Put OI is at 26000 then 25900 strike.

* Call writing is seen at 26100 then 26200 strike while Put writing is seen at 26000 then 25950 strike.

* Option data suggests a broader trading range in between 25500 to 26400 zones while an immediate range between 25700 to 26200 levels.

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