Indian Market Outlook: December 29, 2022


NIFTY is likely to open negative.

NIFTY short-term support is between 17900-17950 and resistance is between 18290-18340.


BANKNIFTY short-term support is between 42050-42150 and resistance is between 43540-43640.


Max pain for NIFTY has decreased to 18100.

Max pain for BANKNIFTY has decreased to 42800.

Max pain for USDINR is same at the 82.75.


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.












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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