Indian Market Outlook: October 20, 2022


NIFTY is likely to open negative.

NIFTY short-term support is between 17280-17330 and resistance is between 17610-17660.


BANKNIFTY short-term support is between 39700-39800 and resistance is between 40600-40700.


Max pain for NIFTY has increased to 17500.

Max pain for BANKNIFTY has increased to 40300.

Max pain for USDINR has increased to 82.75.


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:







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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