Indian Market Outlook: February 01, 2024


NIFTY is likely to open neutral.

NIFTY short-term support is between 21350-21400 and resistance is between 21950-22000.


BANKNIFTY short-term support is between 44900-45000 and resistance is between 47200-47300.


Max pain for NIFTY has increased to 21650.

Max pain for BANKNIFTY has increased to 46000.

Max pain for USDINR is same at the 83.13.


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.





Trade setup:


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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