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Nifty Technical Outlook

NIFTY (CMP : 24579)

Nifty immediate support is at 24442 then 24350 zones while resistance at 24750 then 24850 zones. Now it has to hold above 24442 zones for an up move towards 24750 then 24850 zones while supports can be seen at 24442 and 24350 zones.

Bank Nifty Technical Outlook

BANK NIFTY (CMP : 53661)

Bank Nifty support is at 53500 then 53250 zones while resistance at 5400 then 54250 zones. Now till it holds below 54000 zones some weakness could be seen towards 53500 then 53250 levels while on the upside hurdle is seen at 54000 then 54250 zones

Technical Stocks On Radar

Tata Consumer Products Ltd

(CMP: 1101, Mcap Rs.1,08,928 Cr.)

* Breakout from a “Channel” Pattern.

* Higher than average volumes.

* RSI momentum indicator giving bullish crossover.

* Immediate support at 1050.

Manappuram Finance Ltd

(CMP: 281, Mcap Rs. 23,785 Cr.)

* Falling supply trendline breakout on daily chart.

* Strong bullish candle.

* Rising volumes.

* RSI indicator positively placed.

* Immediate support at 269.

Nifty : Option Data

* Maximum Call OI is at 24700 then 24800 strike while Maximum Put OI is at 24500 then 24000 strike.

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

* Option data suggests a broader trading range in between 24100 to 25100 zones while an immediate range between 24300 to 24800 levels.

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