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Nifty Technical Outlook

NIFTY (CMP : 24773)

Nifty immediate support is at 24700 then 24600 zones while resistance at 25000 then 25150 zones. Now it has to hold above 24750 zones for an up move towards 25000 then 25150 zones while supports can be seen at 24700 and 24600 zones.

Bank Nifty Technical Outlook

BANK NIFTY (CMP : 54186)

Bank Nifty support is at 54000 then 53750 zones while resistance at 54500 then 54750 zones. Now it has to hold above 54000 zones for an up move towards 54500 then 54750 zones while on the downside support is seen at 54000 then 53750 levels.

Technical Stocks On Radar

CG Power and Industrial Solutions Ltd

(CMP: 746, Mcap Rs.65,525 Cr.)

* Trading in a narrow range post consolidation breakout.

* Higher than average volumes.

* RSI indicator rising.

* Immediate support at 715.

Rail Vikas Nigam Ltd

(CMP: 332, Mcap Rs.69,264 Cr.)

* Bounce up from support zones.

* Hovering around 20 DEMA.

* High volumes on up moves.

* RSI momentum indicator positively placed.

* Immediate support at 315.

Nifty : Option Data

* Maximum Call OI is at 25000 then 24900 strike while Maximum Put OI is at 24800 then 24700 strike.

* Call writing is seen at 24900 then 24850 strike while Put writing is seen at 24800 then 24750 strike.

* Option data suggests a broader trading range in between 24300 to 25300 zones while an immediate range between 24500 to 25000 levels

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