Indian Market Outlook: November 07, 2022


NIFTY is likely to open positive.

NIFTY short-term support is between 18000-18050 and resistance is between 18280-18330.


BANKNIFTY short-term support is between 41000-41100 and resistance is between 41630-41730.


Max pain for NIFTY has increased to 18050.

Max pain for BANKNIFTY is same at the 41300.

Max pain for USDINR has decreased to 82.50.



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: Under control.











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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