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Nifty Technical Outlook

NIFTY (CMP : 26008)

Nifty immediate support is at 25900 then 25850 zones while resistance at 26150 then 26250 zones. Now it has to hold above 26000 zones for momentum to regain towards 26150 then 26250 zones while a hold below 26k would lead downside towards 25900 and then 25850 zones.

Bank Nifty Technical Outlook

BANK NIFTY (CMP : 59279)

Bank Nifty support is at 59000 then 58750 zones while resistance at 59750 then 60000 zones. Now till it holds below 59500 zones some weakness could be seen towards 59000 then 58750 levels while on the upside hurdle is seen at 59750 then 60000 zones.

Midcap100 Index Technical Outlook

* Bearish candles near ATH Zones.

Smallcap250 Index Technical Outlook

* Hovering around major support of 16400 – 16500 zones.

Technical Stocks On Radar

Samvardhana Motherson International Ltd

(CMP: 119, Mcap Rs.1,25,872 Cr.)

* Range breakout on daily chart.

* Strong bullish candle

* Rising volumes visible.

* RSI momentum indicator rising.

* Immediate support at 112.

Life Insurance Corporation Ltd

(CMP: 888, Mcap Rs.5,59,067 Cr.

* Triangle breakdown on daily chart.

* RSI momentum indicator weak.

* Immediate resistance at 908.

Technical Chart Pattern for the Day

* “Pole & Flag” Pattern formation, Support : 2848

Nifty : Option Data

* Maximum Call OI is at 26200 then 26300 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 25500 to 26400 zones while an immediate range between 25800 to 26200 levels.

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