NIFTY is likely to open negative.
NIFTY short-term support is between 22250-22300 and resistance is between 22550-22600.
BANKNIFTY short-term support is between 47000-47100 and resistance is between 47700-47800.
Max pain for NIFTY has increased to 22400.
Max pain for BANKNIFTY has increased to 47500.
Max pain for USDINR is same at the 83.25.
Can look for Long CALL/Short PUT on the drop.
At our short-term levels, directional trades can be tried.
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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