NIFTY is likely to open neutral.
NIFTY short-term support is between 22900-22950 and resistance is between 23250-23300.
BANKNIFTY short-term support is between 55000-55100 and resistance is between 56000-56100.
Max pain for NIFTY has decreased to 23250.
Max pain for BANKNIFTY has decreased to 56500.
You may look for a Long CALL/Short PUT on the drop.
At our short-term levels, directional trades may be tried.
Please note that this is not a recommendation. Please consult your financial advisor.
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Disclosure:
Portfolio: ALPHA, ASTRAL, ATUL, BANKBEES, CERA, CHOLAFIN, CONCOR, DMART, GOLDBEES, FINEORG, FINPIPE, HCLTECH, HDFCBANK, ICICIBANK, JUNIORBEES, KPITTECH, LIQUIDBEES, MOM30IETF, NIFTYBEES, POLYMED, REDTAPE, RHIM, SBIN, SILVERBEES, TIMKEN, etc.
We regularly trade weekly options.
