Indian Market Outlook: March 22, 2024


NIFTY is likely to open negative.

NIFTY short-term support is between 21800-21850 and resistance is between 22150-22200.

BANKNIFTY short-term support is between 46000-46100 and resistance is between 47000-47100.


Max pain for NIFTY has increased to 22000.

Max pain for BANKNIFTY has increased to 46800.

Max pain for USDINR is same at the 83.00.


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):
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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