Indian Market Outlook: April 24, 2023


NIFTY is likely to open neutral.

NIFTY short-term support is between 17450-17500 and resistance is between 17800-17850.


BANKNIFTY short-term support is between 41700-41800 and resistance is between 42650-42750.


Max pain for NIFTY is same at the 17650.

Max pain for BANKNIFTY has decreased to 42000.

Max pain for USDINR has increased to 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.




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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