Indian Market Outlook: December 06, 2022


NIFTY is likely to open negatively.

NIFTY short-term support is between 18530-18580 and resistance is between 18870-18920.

BANKNIFTY short-term support is between 42730-42830 and resistance is between 43470-43570.


Max pain for NIFTY is same at the 18700.

Max pain for BANKNIFTY has increased to 43200.

Max pain for USDINR has increased to 81.50.



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.



Upcoming Events:

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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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