Nifty support at 24100, 23950; resistance at 24400, 24600 by Motilal Oswal Wealth Management
Nifty Technical Outlook
NIFTY (CMP : 24231) Nifty immediate support is at 24100 then 23950 zone while resistance at 24400 then 24600 zones. Now it has to hold above 24100 zones for an up move towards 24400 then 24600 zones while supports can be seen at 24100 then 23950 zones.
Bank Nifty Technical Outlook
BANK NIFTY (CMP : 56301) Bank Nifty support is at 56000 then 55750 zones while resistance at 57000 then 57500 zones. Now it has to hold above 56250 zones for an up move towards 57000 then 57500 levels while on the downside support is seen at 56000 then 55750 levels.
Sensex Technical Outlook
Sensex (CMP : 78111) Sensex support is at 77700 then 77500 zones while resistance at 78500 then 78700 zones. Now it has to hold above 78000 for an up move towards 78500 and 78700 while supports have shifted higher to 77700 then 77500 zones.
Midcap100 Index Technical Outlook
Smallcap250 Index Technical Outlook
Technical Stocks On Radar
Power Finance Corporation Ltd
(CMP: 445, Mcap Rs. 1,46,772 Cr.)
* Range breakout on daily chart.
* Respecting 50 DEMA support.
* Accumulation visible.
* RSI indicator positively placed.
* Immediate support at 425.
HEG Ltd
(CMP: 590, Mcap Rs. 11,400 Cr.)
* Falling supply trendline breakout.
* Strong bodied bullish candle.
* RSI indicator rising.
* Immediate support at 542.
Nifty : Option Data
* Maximum Call OI is at 25000 then 24200 strike while Maximum Put OI is at 24200 then 24000 strike.
* Call writing is seen at 24200 then 24300 strike while Put writing is seen at 24200 then 24000 strike.
* Option data suggests a broader trading range in between 23700 to 24700 zones while an immediate range between 24000 to 24500 levels.
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