Indian Market Outlook: August 29, 2022

 

NIFTY is likely to open negative.

NIFTY short-term support is between 17150-17200 and resistance is between 17550-17600.

BANKNIFTY short-term support is between 37500-37600 and resistance is between 38950-39050.

Max pain for NIFTY is same at the 17600.

Max pain for BANKNIFTY is same at the 39000.

Max pain for USDINR has increased to 80.00.

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:

https://www.moneycontrol.com/news/business/markets/currency-market-a-low-risk-and-high-probability-options-strategy-in-usd-inr-9098461.html

https://www.moneycontrol.com/news/business/markets/options-trade-a-non-directional-options-strategy-in-ambuja-cements-9098471.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.