Nifty Support at 24050/23900; Resistance at 24350/24500 by Motilal Oswal Wealth Management
Nifty Technical Outlook
NIFTY (CMP : 24177) Nifty immediate support is at 24050 then 23900 zone while resistance at 24350 then 24500 zones. Now it has to hold above 24150 zones for an up move towards 24350 then 24500 zones while supports are placed at 24050 then 23900 zones.
Bank Nifty Technical Outlook
BANK NIFTY (CMP : 55403) Bank Nifty support is at 55250 then 55000 zones while resistance at 56000 then 56500 zones. Now it has to hold above 55250 zones for an up move towards 56000 then 56500 zones while on the downside support is seen at 55250 then 55000 levels.
Sensex Technical Outlook
Sensex (CMP : 77496) Sensex support is at 77000 then 76700 zones while resistance at 77800 then 78000 zones. Now it has to hold above 77500 for an up move towards 77800 then 78000 while supports can be seen at 77000 then 76700 zones.
Midcap100 Index Technical Outlook
* Narrow range breakout with the RSI momentum indicator rising.
Smallcap250 Index Technical Outlook
* Falling supply trendline breakout and RSI indicator rising.
Brent Crude Oil Spot Rate
* Brent Crude Oil Spot Rate surged to 118 US Dollar Per barrel.
Technical Stocks On Radar
Oil India Ltd
(CMP: 493, Mcap Rs. 80,167 Cr.)
* Triangle pattern breakout.
* Formed a base around 50 DEMA.
* Accumulation visible.
* RSI indicator positively placed.
* Immediate support at 460.
Crompton Greaves Consumer Electricls Ltd
(CMP: 276, Mcap Rs. 17,773 Cr.)
* Falling supply trendline breakout.
* Strong bodied bullish candle.
* High traded volumes.
* RSI indicator rising.
* Immediate support at 250.
Nifty : Option Data
* Maximum Call OI is at 24500 then 25000 strike while Maximum Put OI is at 24000 then 24200 strike.
* Call writing is seen at 24300 then 24400 strike while Put writing is seen at 24200 then 24000 strike.
* Option data suggests a broader trading range in between 23800 to 24500 zones while an immediate range between 23900 to 24400 levels.
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