Indian Market Outlook: January 20, 2023


NIFTY is likely to open neutral.

NIFTY short-term support is between 17700-17750 and resistance is between 18220-18270.


BANKNIFTY short-term support is between 41550-41650 and resistance is between 42850-42950.


Max pain for NIFTY has increased to 18100.

Max pain for BANKNIFTY has increased to 42300.

Max pain for USDINR has decreased 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.









Disclosure:

Portfolio: NIFTYBeeS, LIQUIDBeeS, HCL TECH, HDFC BANK, ICICI BANK, SBI, etc.

Current stock option trades open: None

We regularly trade BANKNIFTY weekly option.



No comments:

Post a Comment

Note: Only a member of this blog may post a comment.

Pages