Indian Market Outlook: April 19, 2021


NIFTY is likely to open negative (Gap Down).

It is likely to remain between our short term levels.


NIFTY short term support is between 14380-14430 and resistance is between 14650-14700.


BANKNIFTY short term support is between 31360-31460 and resistance is between 32400-32500.


Max pain for NIFTY has increased to14600.

Max pain for BANKNIFTY is same at 32000.

Max pain for USDINR is decreased to 74.50.


Can look for Short PUT/Long CALL on drop or near short term support zone.




Last Trading Day's Highlights for us:

1. Weekly BANKNIFTY option strategy positional trades: Initiated.
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-wide-range-non-directional-options-strategy-in-dr-reddys-6780521.html



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