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Nifty Technical Outlook

NIFTY (CMP : 26192)

Nifty immediate support is at 26100 then 26000 zones while resistance at 26277 then 26350 zones. Now it has to hold above 26100 zones for an up move towards 26277 then 26350 zones while supports are shifting higher at 26100 then 26000 zones.

Bank Nifty Technical Outlook

BANK NIFTY (CMP : 59347)

Bank Nifty support is at 59250 then 59000 zones while resistance at 59750 then 60000 zones. Now it has to hold above 59250 zones for an up move towards a new life high territory 59750 then 60000 zones while on the downside support has shifted higher to 59250 then 59000 levels.

Midcap100 Index Technical Outlook

* Hovering above breakout zones and RSI positively placed.

Smallcap250 Index Technical Outlook

* Hovering below 50 DEMA zones.

Technical Stocks On Radar

Sbi Life Insurance Company Ltd

(CMP: 2027, Mcap Rs. 2,03,258 Cr.)

* Range breakout on daily chart.

* Overall uptrend.

* Accumulation visible.

* RSI momentum indicator rising.

* Immediate support at 1955.

JSW Energy Ltd

(CMP: 505, Mcap Rs. 88,236 Cr.)

* Range breakdown on daily chart.

* Strong bodied bearish candle.

* Surge in selling volumes.

* RSI momentum indicator declining.

* Immediate resistance at 515.

Technical Chart Pattern for the Day

* Bullish “Cup and Handle” pattern formation; Support : 1490

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 26250 then 26200 strike while Put writing is seen at 26100 then 26200 strike.

* Option data suggests a broader trading range in between 25700 to 26600 zones while an immediate range between 26000 to 26400 levels.

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