Indian Market Outlook: August 02, 2021

 

NIFTY is likely to open positive.

It is likely to remain between our short term levels.

NIFTY short term support is between 15640-15690 and resistance is between 15920-15970.

BANKNIFTY short term support is between 34330-34430 and resistance is between 35230-35330.

Max pain for NIFTY is same at 15800.

Max pain for BANKNIFTY has decreased to 34600.

Max pain for USDINR has increased to 74.50.

Can look for Long PUT/Short CALL near resistance level.

Last Trading Day's Highlights for us:

1. Weekly BANKNIFTY option strategy positional trades: None

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: None.

Today's Trading Plan:

Initiate NIFTY Covered CALL positional trades.

Algo Trading:

• We are glad to inform you that we are starting full-fledged algo trading in one of our accounts.
• Algo is currently integrated with one of our brokers.
• It will be completely in auto-pilot mode. However, we will be monitoring for any surprises.
• It will be only for BANKNIFTY weekly positions.

Upcoming Events:

Live Trading Session (Online):

http://www.pasitechnologies.com/p/trading.html

Workshop (Mumbai):

http://www.pasitechnologies.com/p/training.html

Prerequisite: 

http://www.pasitechnologies.com/p/prerequisite.html

More info:

1. Moneycontrol Interview: 

https://www.moneycontrol.com/news/business/moneycontrol-research/a-part-time-trader-who-uses-time-and-risk-management-successfully-at-his-job-and-in-the-market-2774651.html

2. Elearnmarkets Face2Face Interview: 

https://www.youtube.com/watch?v=--Ku2hhFL1M

3. Interview: 

https://www.mainebolatha.in/2020/05/santosh-pasi-person-who-takes-option-trading-to-the-next-levels.html

Trade setup:

https://www.moneycontrol.com/news/business/markets/options-trade-an-earnings-based-non-directional-options-strategy-in-hdfc-7255171.html