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.

Trade setup:

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