Indian Market Outlook: April 12, 2023


NIFTY is likely to open neutral.

NIFTY short-term support is between 17500-17550 and resistance is between 17800-17850.

BANKNIFTY short-term support is between 40700-40800 and resistance is between 41600-41700.


Max pain for NIFTY has increased to 17700.

Max pain for BANKNIFTY has increased to 41300.

Max pain for USDINR is same at the 82.00.


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.



Upcoming Events:

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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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