Indian Market Outlook: August 05, 2022

NIFTY is likely to open positive.

NIFTY short-term support is between 17010-17060 and resistance is between 17480-17530.

BANKNIFTY short-term support is between 37210-37310 and resistance is between 38210-38310.

Max pain for NIFTY is same at the 17300.

Max pain for BANKNIFTY has decreased to 37700.

Max pain for USDINR is same at the 79.25.

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

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

Last Trading Day's Highlights for us (algo trading):

Weekly BANKNIFTY strategies trades: Closed in GREEN.

https://www.sonicalpha.com/p/algo.html

Upcoming Events:

Workshop:

http://www.pasitechnologies.com/p/trading.html

Prerequisite: 

http://www.pasitechnologies.com/p/prerequisite.html

More info:

https://www.pasitechnologies.com/p/trainer.html

Trade setup:

https://www.moneycontrol.com/news/business/markets/options-trade-an-earnings-based-non-directional-options-strategy-in-state-bank-of-india-3-8956291.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.