Indian Market Outlook: July 09, 2021

NIFTY is likely to open negative.

It is likely to remain between our short term levels.

NIFTY short term support is between 15630-15680 and resistance is between 15890-15940.

BANKNIFTY short term support is between 35000-35100 and resistance is between 35820-35920.

Max pain for NIFTY has decresed to 15750.

Max pain for BANKNIFTY has decreased to 35400.

Max pain for USDINR has increased to 74.75.

Can look for Long PUT/Short CALL on rally.

Last Trading Day's Highlights for us:

1. Weekly BANKNIFTY option strategy positional trades: Closed in GREEN.
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 BANKNIFTY weekly positional trades.
2. We may initiate adjustment for two stock option strategy trades, if underlying goes further south..

Upcoming Events:

Live Trading Session (Online):

Workshop (Mumbai and Bengaluru):


Trade setup:

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