Indian Market Outlook: May 29, 2023


NIFTY is likely to open positive.

NIFTY short-term support is between 181300-18350 and resistance is between 18650-18700.

BANKNIFTY short-term support is between 43700-43800 and resistance is between 44500-44600.


Max pain for NIFTY has increased to 18400.

Max pain for BANKNIFTY has increased to 43900.

Max pain for USDINR has decreased to 82.50.


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.



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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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