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Nifty Technical Outlook

NIFTY (CMP : 25732)

Nifty immediate support is at 25650 then 25500 zones while resistance at 25950 then 26150 zones. Now it has to cross and hold above 25800 for strength to rebuild towards 25900 then 26000 marks while support can be seen at 25600 then 25500 zones.

Bank Nifty Technical Outlook

BANK NIFTY (CMP : 59578)

Bank Nifty support is at 59250 then 59000 zones while resistance at 59750 then 60000 zones. Now it has to hold above 59500 zones for an up move towards 59750 then 60000 levels while on the downside support is seen at 59250 then 59000 zones.

Sensex Technical Outlook

Sensex (CMP : 83627)

Sensex support is at 83300 then 83000 zones while resistance at 83900 then 84200 zones. Now it has to cross and hold above 83800 zones for strength to rebuild towards 83900 then 84200 zones while support can be seen at 83300 then 83000 zones.

Midcap100 Index Technical Outlook

* Dragonfly Doji candlestick at 100 DEMA support zones.

Smallcap250 Index Technical Outlook

* Hammer Candlestick at major support zones.

Brent Crude Oil

Technical Stocks On Radar

Vedanta Ltd

* Stock in overall uptrend.

* Respecting 50 DEMA support.

* Rising Volumes.

* RSI momentum indicator rising.

* Immediate support at 610.

Oil India Ltd

* “Double Bottom” pattern breakout

* Massive bullish candle.

* Surge in traded volumes.

* RSI Indicator showing strength.

* Immediate support at 432.

Technical Chart Pattern for the Day

* Bullish “Pole & Flag” Chart pattern Breakout; Support : 1560 ; Breakout above : 1650

Nifty : Option Data

* Maximum Call OI is at 26000 then 25800 strike while Maximum Put OI is at 25700 then 25500 strike.

* Call writing is seen at 26000 then 25900 strike while Put writing is seen at 25700 then 25500 strike.

* Option data suggests a broader trading range in between 25400 to 26200 zones while an immediate range between 25500 to 26000 levels.

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