Indian Market Outlook: March 23, 2021

 

NIFTY is likely to open neutral.

It is likely to remain between our short term levels.


NIFTY short term support is between 14490-14540 and resistance is between 14930-14980.


BANKNIFTY short term support is between 33250-33350 and resistance is between 34740-34840.


Max pain for NIFTY has decreased to 14500.

Max pain for BANKNIFTY has decreased to 34000.

Max pain for USDINR has decreased to 72.75.


Can look for Long PUT/Short CALL on rally.


Last Trading Day's Highlights for us:

1. Weekly BANKNIFTY option strategy positional trades: Under control.
2. Weekly NIFTY option strategy positional trades: None
3. Monthly NIFTY option strategy positional trades: None
4. Monthly Stock option strategy positional trades: Under control.
5. Monthly Currency option strategy positional trades: None







Trade setup:

https://www.moneycontrol.com/news/business/markets/options-trade-a-low-risk-options-strategy-in-hdfc-bank-6679161.html



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