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Nifty Technical Outlook

NIFTY (CMP : 24868)

Nifty immediate support is at 24750 then 24600 zones while resistance at 25000 then 25150 zones. Now it has hold above 24800 zones for an up move towards 25000 then 25150 zones while supports can be seen at 24750 and 24600 zones.

Bank Nifty Technical Outlook

BANK NIFTY (CMP : 54216)

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

Adani Ports and Special Economic Zone Ltd

(CMP: 1380, Mcap Rs.2,98,294 Cr.)

* Falling supply trendline breakout.

* Surpassed above 50 DEMA.

* Surge in volumes visible.

* Stochastic indicator rising.

* Immediate support at 1315

Dr Reddy's Laboratories Ltd

(CMP: 1291, Mcap Rs.1,07,773 Cr.)

* Range breakout on daily scale.

* Strong bullish candle.

* Higher than average volumes.

* RSI momentum indicator giving bullish crossover.

* Immediate support at 1245.

Nifty : Option Data

* Maximum Call OI is at 25000 then 24900 strike while Maximum Put OI is at 24800 then 24500 strike.

* Call writing is seen at 24900 then 25000 strike while Put writing is seen at 24800 then 24900 strike.

* Option data suggests a broader trading range in between 24300 to 25300 zones while an immediate range between 24600 to 25100 levels.

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