Nifty Key Levels: Support at 22,900 & 22,700, Resistance at 23,300 & 23,500 by Motilal Oswal Wealth Management
Nifty Technical Outlook
NIFTY (CMP : 23157) Nifty immediate support is at 22900 then 22700 zone while resistance at 23300 then 23500 zones. Now till it holds below 23300 zones, weakness could be seen towards 22900 then 22700 zones while hurdles have shifted lower to 23300 then 23500 zones.
Bank Nifty Technical Outlook
BANK NIFTY (CMP : 53757) Bank Nifty support is at 53500 then 53000 zones while resistance at 54000 then 54250 zones. Now till it holds below 54000 zones weakness could be seen towards 53500 then 53000 levels while on the upside hurdle is seen at 54000 then 54250 zones.
Sensex Technical Outlook
Sensex (CMP : 74563) Sensex support is at 74000 then 73500 zones while resistance at 75000 then 75400 zones. Now till it holds below 75000 zones, weakness could be seen towards 74000 then 73500 zones while hurdles have shifted lower to 75000 then 75400 zones.
Midcap100 Index Technical Outlook
Smallcap250 Index Technical Outlook
Technical Stocks On Radar
Tata Consumer Products Ltd
(CMP: 1084, Mcap ? 1,07,264 Cr.)
* Bullish engulfing pattern on daily chart.
* Surge in traded volumes.
* RSI indicator bounce up from oversold zones.
* Immediate support at 1045.
Rail Vikas Nigam Ltd
CMP: 268, Mcap ? 56,576 Cr.)
* Stock in overall downtrend.
* Respecting 50 DEMA resistance zones.
* RSI momentum indicator showing weakness.
* Immediate resistance at 280.
Nifty : Option Data
* Maximum Call OI is at 24000 then 23500 strike while Maximum Put OI is at 23000 then 22500 strike.
* Call writing is seen at 23500 then 23600 strike while Put writing is seen at 23200 then 22800 strike.
* Option data suggests a broader trading range in between 22700 to 23700 zones while an immediate range between 22900 to 23400 levels.
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