Indian Market Outlook: July 08, 2021

 


NIFTY is likely to open negative.

It is likely to remain between our short term levels.


NIFTY short term support is between 15680-15730 and resistance is between 15890-15940.


BANKNIFTY short term support is between 35120-35220 and resistance is between 35820-35920.


Max pain for NIFTY has increased to 15850.

Max pain for BANKNIFTY has increased to 35600.

Max pain for USDINR is same at 74.50.


Can look for Long CALL/Short PUT on drop.






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, manage current trades.






More info:
1. Moneycontrol Interview: 
2. Elearnmarkets Face2Face Interview: 
3. Interview: 
4. QuantsApp Option Expert Series: 


Trade setup:

https://www.moneycontrol.com/news/business/markets/options-trade-a-non-directional-options-strategy-in-hpcl-7143591.html


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