Indian Market Outlook: November 11, 2022


NIFTY is likely to open positive (Gap UP).


NIFTY short-term support is between 18000-18050 and resistance is between 18370-18420.

BANKNIFTY short-term support is between 41530-41630 and resistance is between 42400-42500.


Max pain for NIFTY has decreased to 18000.

Max pain for BANKNIFTY has decreased to 41500.

Max pain for USDINR is same at the 82.00.


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 a small loss.



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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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