Indian Market Outlook: August 22, 2022

 

NIFTY is likely to open negative.

NIFTY short-term support is between 17600-17650 and resistance is between 17850-17900.


BANKNIFTY short-term support is between 38640-38740 and resistance is between 39200-39300.


Max pain for NIFTY has decreased to 17750.

Max pain for BANKNIFTY has decreased to 39000.

Max pain for USDINR is same at the 79.50.


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.

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:





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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