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Nifty Technical Outlook

NIFTY (CMP : 24450) Nifty immediate support is at 24000 then 23800 zones while resistance at 24600 then 24800 zones. Now till it holds below 24600 zones, weakness could be seen towards 24000 then 23800 zones while hurdles have shifted lower to 24600 then 24800 zones.

Bank Nifty Technical Outlook

BANK NIFTY (CMP : 57783) Bank Nifty support is at 57250 then 57000 zones while resistance at 58000 then 58250 zones. Now till it holds below 58000 zones weakness could be seen towards 57250 then 57000 zones while on the upside hurdle is seen at 58000 then 58250 levels.

Sensex Technical Outlook

Sensex (CMP : 78918) Sensex support is at 78500 then 78000 zones while resistance at 79500 then 79800 zones. Now till it holds below 79500 zones, weakness could be seen towards 78500 then 78000 zones while hurdles have shifted lower to 79500 then 79800 zones.

Midcap100 Index Technical Outlook

Smallcap250 Index Technical Outlook

Technical Stocks On Radar

Bharat Electronics Ltd

(CMP: 468, Mcap Rs. 3,42,427 Cr.

* Bullish “Pennat” pattern breakout on daily scale.

* Respecting 20 DEMA support.

* RSI indicator confirming positive momentum with heavy volumes.

* Immediate support at 445.

Oil India Ltd

(CMP: 484, Mcap Rs. 78,809 Cr.)

* Retesting breakout on daily chart.

* Respecting 50 DEMA.

* Higher than average traded volumes.

* Immediate support at 450.

Nifty : Option Data

* Maximum Call OI is at 25000 then 24600 strike while Maximum Put OI is at 23500 then 24000 strike.

* Call writing is seen at 25000 then 24600 strike while Put writing is seen at 24500 then 23500 strike.

* Option data suggests a broader trading range in between 24000 to 25000 zones while an immediate range between 24200 to 24700 levels.

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