Indian Market Outlook: December 08, 2022


NIFTY is likely to open neutral.

NIFTY short-term support is between 18450-18500 and resistance is between 18770-18820.


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


Max pain for NIFTY has decreased to 18600.

Max pain for BANKNIFTY has decreased to 43100.

Max pain for USDINR is same at the 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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