Indian Market Outlook: January 30, 2023

 

NIFTY is likely to open neutral.

NIFTY short-term support is between 17450-17500 and resistance is between 17900-17950.

BANKNIFTY short-term support is between 40000-40100 and resistance is between 41500-41600.


Max pain for NIFTY has decreased to 17800.

Max pain for BANKNIFTY has decreased to 41100.

Max pain for USDINR is same at the 81.50.


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.


Upcoming Events:

Workshop:


Prerequisite: 


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Trade setup:




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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