Indian Market Outlook: January 05, 2023


NIFTY is likely to open neutral.

NIFTY short-term support is between 17950-18000 and resistance is between 18430-18480.


BANKNIFTY short-term support is between 42700-42800 and resistance is between 43840-43940.


Max pain for NIFTY has decreased to 18100.

Max pain for BANKNIFTY has decreased to 43000.

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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