Indian Market Outlook: December 07, 2022


NIFTY is likely to open negative.

NIFTY short-term support is between 18500-18550 and resistance is between 18820-18870.


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


Max pain for NIFTY has decreased to 18650.

Max pain for BANKNIFTY is same at the 43200.

Max pain for USDINR has increased to 82.00.



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.



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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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