Indian Market Outlook: August 23, 2021


NIFTY is likely to open positive.

It is likely to remain between our short term levels.


NIFTY short term support is between 16320-16370 and resistance is between 16650-16700.


BANKNIFTY short term support is between 34650-34750 and resistance is between 36300-36400.


Max pain for NIFTY has reduced to 16400.

Max pain for BANKNIFTY has reduced to 35100.

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: 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..

Algo Trading:
BANKNIFTY strategies trades: Under control.

Today's Trading Plan (manual):
Manage open positions.



Upcoming Events:

Live Trading Session (Online):

Workshop:

Prerequisite: 




Trade setup:

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