NIFTY is likely to open negative.
NIFTY short-term support is between 17950-18000 and resistance is between 18250-18300.
BANKNIFTY short-term support is between 42900-43000 and resistance is between 43800-43900.
Max pain for NIFTY has increased to 18100.
Max pain for BANKNIFTY has increased to 43300.
Max pain for USDINR is same at the 81.75.
Can look for Long CALL/Short PUT on the drop.
At our short-term levels, directional trades can be tried.
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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