Indian Market Outlook: July 06, 2021


NIFTY is likely to open neutral.

It is likely to remain between our short term levels.


NIFTY short term support is between 15620-15670 and resistance is between 15870-15920.


BANKNIFTY short term support is between 34510-34610 and resistance is between 35350-35450.


Max pain for NIFTY has increased to 15800.

Max pain for BANKNIFTY has increased to 35100.

Max pain for USDINR has decreased to 74.50.


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: Under control.
3. Monthly Stock Covered CALL positional trades: Under control.
4. Monthly NIFTY Covered CALL positional trades: Under control.

Today's Trading Plan:

1. Going low on position size, just manage current trades.






Trade setup:

https://www.moneycontrol.com/news/business/markets/options-trade-a-slightly-aggressive-non-directional-options-strategy-in-nmdc-7128761.html



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