Indian Market Outlook: July 22, 2021

 

NIFTY is likely to open positive.

It is likely to remain between our short term levels.


NIFTY short term support is between 15570-15620 and resistance is between 15870-15920.


BANKNIFTY short term support is between 34350-34450 and resistance is between 35270-35370.


Max pain for NIFTY has decreased to 15700.

Max pain for BANKNIFTY has decreased to 34600.

Max pain for USDINR is same at 74.75.


Can look for Long CALL/Short PUT on drop.


Last Trading Day's Highlights for us:

1. Weekly BANKNIFTY option strategy positional trades: None.
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:
Reduce exposure of open positions.







Trade setup:

https://www.moneycontrol.com/news/business/markets/options-trade-an-earnings-based-non-directional-options-strategy-in-jsw-steel-7203461.html



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