Indian Market Outlook: June 08, 2021


NIFTY is likely to open neutral.

It is likely to remain between our short term levels.


NIFTY short term support is between 15450-15500 and resistance is between 15770-15820.


BANKNIFTY short term support is between 34900-35000 and resistance is between 35900-36000.


Max pain for NIFTY is same at 15700.

Max pain for BANKNIFTY is same at 35500.

Max pain for USDINR is same at 73.00.


Can look for Short CALL/Long PUT on rally or near short term resistance level.


Last Trading Day's Highlights for us:

1. Weekly BANKNIFTY option strategy positional trades: Under control.
2. Monthly Stock option strategy positional trades: One trade adjusted, remainings under control.
3. Monthly Stock Covered CALL positional trades: Under control.
4. Monthly NIFTY Covered CALL positional trades: Under control.







Trade setup:

https://www.moneycontrol.com/news/business/markets/options-trade-a-wide-range-earnings-based-options-strategy-in-gail-6999471.html



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