Indian Market Outlook: July 26, 2021


NIFTY is likely to open negative.

It is likely to remain between our short term levels.


NIFTY short term support is between 15570-15620 and resistance is between 15890-15940.


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


Max pain for NIFTY is same at 15800.

Max pain for BANKNIFTY has increased to 35000.

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: 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:
Initiate another BANKNIFTY weekly positional trades.
Reduce risk exposure for monthly positional trades.







Trade setup:

https://www.moneycontrol.com/news/opinion/options-trade-an-earnings-based-non-directional-options-strategy-in-axis-bank-7216421.html

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