Nifty support at 24250–24100, resistance at 24500–24700 by Motilal Oswal Wealth Managementb
Nifty Technical Outlook
NIFTY (CMP : 24364) Nifty immediate support is at 24250 then 24100 zone while resistance at 24500 then 24700 zones. Now it has to continue to hold above 24300 zones for an up move towards 24500 then 24700 zones while supports can be seen at 24250 then 24100 zones.
Bank Nifty Technical Outlook
BANK NIFTY (CMP : 56582) Bank Nifty support is at 56250 then 56000 zones while resistance at 57000 then 57500 zones. Now it has to continue to hold above 56500 zones for an up move towards 57000 then 57500 levels while on the downside support is seen at 56250 then 56000 levels.
Sensex Technical Outlook
Sensex (CMP : 78520) Sensex support is at 78000 then 77800 zones while resistance at 79000 then 79200 zones. Now it has to continue to hold above 78500 for an up move towards 79000 then 79200 while supports can be seen at 78000 then 77800 zones.
Midcap100 Index Technical Outlook
Smallcap250 Index Technical Outlook
Technical Stocks On Radar
Schneider Electric Infrastructure Ltd
(CMP: 1087, Mcap Rs. 26,089 Cr.)
* Has given a Trendline Breakout.
* Sustaining above 20 DEMA.
* RSI indicator confirming positive momentum.
* Immediate support at 1050.
Balrampur Chini Mills Ltd
(CMP: 516, Mcap Rs.10,415 Cr.)
* Has given a Trendline Breakout.
* Sustaining above 20 DEMA.
* RSI given positive crossover.
* Heavy Volumes on Breakout.
* Immediate support at 490
Nifty : Option Data
* Maximum Call OI is at 25000 then 24500 strike while Maximum Put OI is at 24000 then 24200 strike.
* Call writing is seen at 24500 then 24500 strike while Put writing is seen at 24400 then 24300 strike.
* Option data suggests a broader trading range in between 23800 to 24800 zones while an immediate range between 24100 to 24600 levels.
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