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Nifty Technical Outlook

NIFTY (CMP : 26053)

Nifty immediate support is at 25900 then 25800 zones while resistance at 26277 then 26350 zones. Now it has to hold above 25950 zones for an up move towards 26277 then 26350 zones while supports can be seen at 25900 then 25800 zones.

Bank Nifty Technical Outlook

BANK NIFTY (CMP : 58385)

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 a new life high territory towards 58750 zones while on the downside support is seen at 58000 then 57750 levels.

Midcap100 Index Technical Outlook

*  Range breakout above key resistance zones.

Smallcap250 Index Technical Outlook

*  Falling supply trendline breakout.

Nifty Energy Index

*  Falling supply Trendline Breakout and RSI inching higher.

Technical Stocks On Radar

Indian Oil Corporation Ltd

(CMP: 163, Mcap Rs.2,30,303 Cr.)

*  Range breakout on daily chart.

*  Strong bullish candle.

*  Surge in traded volumes.

*  RSI indicator giving bullish crossover.

*  Immediate support at 156.

NBCC (India) Ltd

(CMP: 115, Mcap Rs.31,109 Cr.)

*  Falling Supply trendline breakout.

*  Bounce up from 50 DEMA.

*  Rise in traded volumes.

*  RSI indicator positively placed.

*  Immediate support at 109.

Technical Chart Pattern for the Day

*  Bullish “Cup & Handle” pattern formation; Support : 132, Resistance : 156

Nifty : Option Data

*  Maximum Call OI is at 26500 then 26200 strike while Maximum Put OI is at 26000 then 25900 strike.

*  Call writing is seen at 26050 then 26150 strike while Put writing is seen at 26000 then 25900 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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