Indian Market Outlook: February 07, 2023


NIFTY is likely to open positive.

NIFTY short-term support is between 17570-17620 and resistance is between 17950-18000.


BANKNIFTY short-term support is between 40580-40680 and resistance is between 42020-42120.


Max pain for NIFTY has increased to 17750.

Max pain for BANKNIFTY has increased to 41400.

Max pain for USDINR has increased to 82.25.


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.


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