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Nifty Technical Outlook

NIFTY (CMP : 22819) Nifty immediate support is at 22500 then 22200 zone while resistance at 23150 then 23333 zones. Now till it holds below 23000 zones weakness could be seen towards 22500 then 22200 zones while hurdles have shifted lower to 23150 then 23333 zones.

Bank Nifty Technical Outlook

BANK NIFTY (CMP : 52274) Bank Nifty support is at 51750 then 51500 zones while resistance at 52750 then 53000 zones. Now till it holds below 52500 zones, weakness could be seen towards 51750 then 51500 levels while hurdles have shifted lower to 52750 then 53000 zones.

Sensex Technical Outlook

Sensex (CMP : 73583) Sensex support is at 73000 then 72700 zones while resistance at 74500 then 74800 zones. Now till it holds below 74000 weakness could be seen towards 73000 then 72700 while hurdles have shifted lower to 74500 and 74800 zones.

Midcap100 Index Technical Outlook

Smallcap250 Index Technical Outlook

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Technical Stocks On Radar

UPL Ltd

(CMP: 598, Mcap Rs. 50,284 Cr.)

* Inverted “Pennant” pattern formation.

* High traded volumes.

* RSI indicator showing weakness.

* Immediate resistance at 616.

Ather Energy Ltd

(CMP: 796, Mcap Rs. 30,451 Cr.)

* Trendline breakout on daily chart.

* Strong bodied bullish candle.

* High traded volumes.

* RSI momentum indicator rising.

* Immediate support at 718

Nifty : Option Data

* Maximum Call OI is at 23000 then 23500 strike while Maximum Put OI is at 22500 then 22800 strike.

* Call writing is seen at 23000 then 23200 strike while Put writing is seen at 22800 then 22850 strike.

* Option data suggests a broader trading range in between 22200 to 23400 zones while an immediate range between 22500 to 23200 levels.

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