Indian Market Outlook: August 27, 2021


NIFTY is likely to open neutral.

It is likely to remain between our short term levels.

NIFTY short term support is between 16450-16500 and resistance is between 16680-16730.

BANKNIFTY short term support is between 35050-35150 and resistance is between 36000-36100.

Max pain for NIFTY has increased to 16600.

Max pain for BANKNIFTY has increased to 35600.

Max pain for USDINR is same at 74.50.

Can look for Long PUT/Short CALL on rally or near short term resistance levels.

Last Trading Day's Highlights for us:

1. Weekly BANKNIFTY option strategy positional trades: None
2. Monthly Stock option strategy positional trades: Closed in GREEN
3. Monthly Stock Covered CALL positional trades: Closed in RED.
4. Monthly NIFTY Covered CALL positional trades: Closed in RED..

Algo Trading:
BANKNIFTY strategies trades: Closed in GREEN.

Today's Trading Plan (manual):
Initiate stock option strategy positional trades.

Trade setup:

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