Indian Market Outlook: June 23, 2022


NIFTY is likely to open neutral.

NIFTY short-term support is between 15330-15380 and resistance is between 15620-15670.


BANKNIFTY short-term support is between 32670-32770 and resistance is between 33640-33740.


Max pain for NIFTY has decreased to 15450.

Max pain for BANKNIFTY has decreased to 32900.

Max pain for USDINR has increased to 78.25.


Can look for Long PUT/Short CALL on the rally.

At our short-term levels, directional trades can be tried.



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-a-non-directional-options-strategy-in-ntpc-8725211.html



Disclosure:

Portfolio: NIFTYBeeS, LIQUIDBeeS, HCL TECH, HDFC BANK, ICICI BANK, SBI, etc.

Current stock option trades open: None

We regularly trade BANKNIFTY weekly option.



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