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Nifty Technical Outlook

NIFTY (CMP : 26328)

Nifty immediate support is at 26200 then 26100 zones while resistance at 26500 then 26600 zones. Now it has to hold above 26250 zones for an up move towards 26500 and 26600 zones while supports can be seen at 26200 then 26100 zones.

Bank Nifty Technical Outlook

BANK NIFTY (CMP : 60150)

Bank Nifty support is at 60000 then 59750 zones while resistance at 60500 then 60750 zones. Now it has to hold above 60000 zones for an up move towards new record high 60500 then 60750 zones while on the downside support is seen at 60000 then 59750 levels.

Sensex Technical Outlook

Sensex (CMP : 85762)

Sensex support is at 85400 then 85200 zones while resistance at 86000 then 86200 zones. Now it has to hold above 85500 zones for an up move towards 86000 then 86200 zones while on the downside supports are seen at 85400 then 85200 levels.

Midcap100 Index Technical Outlook

* Range breakout at “All Time High” zones.

Smallcap250 Index Technical Outlook.

* Hovering around 50 DEMA hurdle zones.

Technical Stocks On Radar

Cholamandalam Investment & Finance Company Ltd

* Range breakout at “ATH” zones.

* Formed a base around its 50 DEMA.

* High volumes on up moves.

* RSI indicator positively placed.

* Immediate support at 1720.

Torrent Power Ltd

* Consolidation breakout on daily chart.

* Strong bodied bullish candle.

* RSI momentum indicator rising.

* Immediate support at 1340.

Technical Chart Pattern for the Day

* “Symmetrical Triangle” pattern Breakout; Support : 1270 , Resistance : 1380

Nifty : Option Data

* Maximum Call OI is at 26300 then 26500 strike while Maximum Put OI is at 26200 then 26300 strike.

* Call writing is seen at 26300 then 26500 strike while Put writing is seen at 26300 then 26500 strike.

* Option data suggests a broader trading range in between 25800 to 26700 zones while an immediate range between 26100 to 26500 levels.

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