Indian Market Outlook: November 16, 2023


NIFTY is likely to open neutral.

NIFTY short-term support is between 19500-19550 and resistance is between 19750-19800.


BANKNIFTY short-term support is between 43800-43900 and resistance is between 44600-44700.


Max pain for NIFTY has increased to 19650.

Max pain for BANKNIFTY has increased to 44200.

Max pain for USDINR is same at the 83.25.


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):
Algo trading: 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 weekly options.


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