Indian Market Outlook: October 13, 2021

NIFTY is likely to open positive.

It is likely to remain between our short term levels.

NIFTY short term support is between 17810-17860 and resistance is between 18050-18100.

BANKNIFTY short term support is between 37750-37850 and resistance is between 38900-39000.

Max pain for NIFTY has increased to 17950.

Max pain for BANKNIFTY has increased to 38400.

Max pain for USDINR is same at 75.25.

Can look for Long CALL/Short PUT on drop.

Last Trading Day's Highlights for us:

Algo Trading:
BANKNIFTY strategies trades: Under control.

Discretionary Trading:
1. Monthly Stock option strategy positional trades: Under control.
2. Monthly Stock Covered CALL positional trades: Under control.
3. Monthly NIFTY Covered CALL positional trades: None.

Trade setup:

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