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Nifty Technical Outlook

NIFTY (CMP : 26205)

Nifty immediate support is at 26100 then 26000 zones while resistance at 26277 then 26400 zones. Now it has to hold above 26100 zones for a momentum to extend towards 26277 and then 26400 zones while supports are shifting higher to 26100 and then 26000.

Bank Nifty Technical Outlook

BANK NIFTY (CMP : 59528)

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 new life high territory 59750 then 60000 zones while on the downside support is seen at 59250 then 59000 levels.

Midcap100 Index Technical Outlook

* Strong bullish candle and approaching all time high zones.

Smallcap250 Index Technical Outlook

* Pullback from support zones and RSI bounce up from oversold zones.

Technical Stocks On Radar

Tech Mahindra Ltd

(CMP: 1520, Mcap Rs. 1,48,948 Cr.)

* Double bottom pattern breakout.

* Surpassed above 50 DEMA.

* High volumes.

* RSI momentum indicator rising.

* Immediate support at 1460.

Ashok Leyland Ltd

(CMP: 149, Mcap Rs. 87,491 Cr.)

* Overall uptrend..

* Respecting 20 DEMA.

* Rising volumes.

* RSI momentum indicator positively placed.

* Immediate support at 143.

Technical Chart Pattern for the Day

* Bullish “Pole & Flag” Pattern formation, Support : 1750 ; Resistance : 1865

Nifty : Option Data

* Maximum Call OI is at 26500 then 26200 strike while Maximum Put OI is at 26100 then 26200 strike.

* Call writing is seen at 26500 then 26700 strike while Put writing is seen at 26000 then 26100 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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