Indian Market Outlook: March 16, 2023


NIFTY is likely to open neutral.

NIFTY short-term support is between 16850-16900 and resistance is between 17250-17300.


BANKNIFTY short-term support is between 38750-38850 and resistance is between 39650-39750.


Max pain for NIFTY has decreased to 17100.

Max pain for BANKNIFTY has decreased to 39400.

Max pain for USDINR is same at the 82.25.


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.



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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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