Indian Market Outlook: June 29, 2021


NIFTY is likely to open neutral.

It is likely to remain between our short term levels.


NIFTY short term support is between 15640-15690 and resistance is between 15900-15950.


BANKNIFTY short term support is between 34760-34860 and resistance is between 35650-35750.


Max pain for NIFTY is same at 15800.

Max pain for BANKNIFTY has increased to 35300.

Max pain for USDINR has increased to 74.25.


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: Initiated.
2. Monthly Stock option strategy positional trades: 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-non-directional-strategy-in-bank-nifty-12-7099891.html


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