Indian Market Outlook: June 02, 2023

 

NIFTY is likely to open positive.

NIFTY short-term support is between 18400-18450 and resistance is between 18700-18750.


BANKNIFTY short-term support is between 43600-43700 and resistance is between 44600-44700.


Max pain for NIFTY is same at the 18500.

Max pain for BANKNIFTY is same at the 44000.

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: Closed in RED.



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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