Nifty Support at 23700–23500; Resistance at 24200–24400 by Motilal Oswal Wealth Management
Nifty Technical Outlook
NIFTY (CMP : 24028) Nifty immediate support is at 23700 then 23500 zones while resistance at 24200 then 24400 zones. Now till it holds below 24200 zones, weakness could be seen towards 23700 then 23500 zones while hurdles have shifted lower to 24200 then 24400 zones.
Bank Nifty Technical Outlook
BANK NIFTY (CMP : 56019) Bank Nifty support is at 55500 levels while resistance at 56250 zones. Now till it holds below 56250 zones weakness could be seen towards 55500 then 55250 zones while on the upside hurdle is seen at 56500 then 56750 levels.
Sensex Technical Outlook
Sensex (CMP : 77566) Sensex support is at 77000 then 76500 zones while resistance at 78000 then 78500 zones. Now till it holds below 78000 zones, weakness could be seen towards 77000 then 76500 zones while hurdles have shifted lower to 78000 then 78500 zones.
Midcap100 Index Technical Outlook
Smallcap250 Index Technical Outlook
Technical Stocks On Radar
Multi Commodity Exchange Of India Ltd
(CMP: 2577, Mcap Rs. 65,714 Cr.)
* Stock in an overall uptrend.
* Respecting 50 DEMA support.
* Strong bullish candle.
* RSI indicator confirming positive momentum.
* Immediate support at 2475.
Data Patterns (India) Ltd
(CMP: 3494, Mcap Rs. 19,556 Cr.)
* Consolidation breakout on daily chart.
* Higher than average traded volumes.
* RSI indicator rising.
* Immediate support at 3115.
Nifty : Option Data
* Maximum Call OI is at 24500 then 24000 strike while Maximum Put OI is at 23500 then 23800 strike.
* Call writing is seen at 24500 then 24200 strike while Put writing is seen at 24800 then 24700 strike.
* Option data suggests a broader trading range in between 23500 to 24500 zones while an immediate range between 23800 to 24300 levels.
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