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Nifty Technical Outlook

NIFTY (CMP : 26013) Nifty immediate support is at 25900 then 25800 zones while resistance at 26150 then 26277 zones. Now it has to hold above 25900 zones for the next up move towards 26150 then 26277 zones while supports can be seen at 25900 then 25800 zones

Bank Nifty Technical Outlook

BANK NIFTY (CMP : 58962) Bank Nifty support is at 58750 then 58500 zones while resistance at 59500 then 60000 zones. Now it has to hold above 58750 zones for an up move towards a new life high territory towards 59500 then 60000 zones while on the downside support has shifting higher to 58750 then 58500 levels.

Midcap100 Index Technical Outlook

* Consolidation Breakout near “All Time High” zones.

Smallcap250 Index Technical Outlook

* Hovering around 50 DEMA zones.

Technical Stocks On Radar

Hero Motocorp Ltd

(CMP: 5798, Mcap ? 1,16,017 Cr.)

* Range Breakout on daily chart.

* Strong bodied bullish candle.

* Surpassed above 50 DEMA.

* High volumes on up moves.

* Immediate support at 5460.

Fsn E-Commerce Ventures Ltd

(CMP: 269, Mcap ? 76,903 Cr.)

* Range breakout on daily chart.

* Strong bodied bullish candle.

* Bounce up from 20 DEMA support zones.

* RSI momentum indicator rising.

* Immediate support at 255.

Technical Chart Pattern for the Day

• “Symmetrical Triangle” pattern formation; Support : 3630

Nifty : Option Data

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

* Call writing is seen at 26000 then 26100 strike while Put writing is seen at 25900 then 25950 strike.

* Option data suggests a broader trading range in between 25600 to 26400 zones while an immediate range between 25800 to 26200 levels.

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