Indian Market Outlook: November 08, 2021


NIFTY is likely to open neutral.

It is likely to remain between our short term levels.


NIFTY short term support is between 17790-17840 and resistance is between 18100-18150.


BANKNIFTY short term support is between 38770-38870 and resistance is between 40350-40450.


Max pain for NIFTY is same at 17900.

Max pain for BANKNIFTY has decreased to 39800.

Max pain for USDINR has decreased to 74.75.


Can look for Long PUT/Short CALL on rally.



Last Trading Day's Highlights for us:

Algo Trading:
Weekly BANKNIFTY strategies trades: Under control.








Trade setup:

https://www.moneycontrol.com/news/business/markets/options-trade-an-earnings-based-non-directional-options-strategy-in-bhel-2-7687751.html



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