Nifty support at 22500/22350; resistance at 22950/23150 by Motilal Oswal Wealth Management
Nifty Technical Outlook
NIFTY (CMP : 22713) Nifty immediate support is at 22500 then 22350 zone while resistance at 22950 then 23150 zones. Now it has to hold above 22650 zones for a bounce towards 22950 then 23150 zones while supports can be seen at 22500 then 22350 zones.
Bank Nifty Technical Outlook
BANK NIFTY (CMP : 51549) Bank Nifty support is at 50750 then 50500 zones while resistance at 52000 then 52500 zones. Now it has to hold above 51250 zones for a bounce towards 52000 then 52500 zones while a hold below the same could see some weakness towards 50750 then 50500 levels.
Sensex Technical Outlook
Sensex (CMP : 73319) Sensex support is at 72500 then 72000 zones while resistance at 74500 then 75000 zones. Now it has to cross and hold above 73800 zones for a bounce towards 74500 then 75000 zones while a hold below the same could see weakness towards 72500 then 72000 zones.
Midcap100 Index Technical Outlook
Smallcap250 Index Technical Outlook
Technical Stocks On Radar
Lloyds Metals And Energy Ltd
(CMP: 1388, Mcap Rs. 78,131 Cr.)
* Has given consolidation Breakout
* Sustaining above 20 DEMA • RSI indicator confirming positive momentum with heavy volumes.
* Immediate support at 1330.
Acme Solar Holdings Ltd
(CMP: 275, Mcap Rs. 16,643 Cr.)
* Breakout on Daily Chart
* Sustaining above 20 DEMA.
* Higher than average traded volumes.
* Immediate support at 262.
Nifty : Option Data
* Maximum Call OI is at 24000 then 23000 strike while Maximum Put OI is at 22000 then 22200 strike.
* Call writing is seen at 23000 then 23200 strike while Put writing is seen at 22000 then 22300 strike.
* Option data suggests a broader trading range in between 22200 to 23500 zones while an immediate range between 22500 to 23100 levels.
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