Indian Market Outlook: July 02, 2021

NIFTY is likely to open neutral.

It is likely to remain between our short term levels.

NIFTY short term support is between 15570-15620 and resistance is between 15870-15920.

BANKNIFTY short term support is between 34510-34610 and resistance is between 35350-35650.

Max pain for NIFTY has reduced to 15700.

Max pain for BANKNIFTY has reduced to 34800.

Max pain for USDINR is same at 74.25.

Can look for Short CALL/Long PUT on rally.

Last Trading Day's Highlights for us:

1. Weekly BANKNIFTY option strategy positional trades: Closed in RED.
2. Monthly Stock option strategy positional trades: Under control.
3. Monthly Stock Covered CALL positional trades: Under control.
4. Monthly NIFTY Covered CALL positional trades: Under control.

Today's Trading Plan:
1. Initiate Weekly BANKNIFTY positional strategy.
2. Add Monthly NIFTY Covered CALL.

Upcoming Events:

Live Trading Session (Online):

Workshop (Mumbai and Bengaluru):


Trade setup:

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