Indian Market Outlook: July 12, 2021


NIFTY is likely to open positive.

It is likely to remain between our short term levels.


NIFTY short term support is between 15580-15630 and resistance is between 15890-15940.


BANKNIFTY short term support is between 34750-34850 and resistance is between 35720-35820.


Max pain for NIFTY has decreased to 15700.

Max pain for BANKNIFTY has decreased to 35100.

Max pain for USDINR is same at 74.75.


Can look for Long PUT/Short CALL on rally.



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.

Today's Trading Plan:

1. Initiate another BANKNIFTY weekly positional trade.
2. Initiate another stock option strategy trade.








Trade setup:

https://www.moneycontrol.com/news/business/markets/options-trade-a-non-directional-options-strategy-in-glenmark-pharmaceuticals-7154721.html



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