Indian Market Outlook: August 03, 2021

 

NIFTY is likely to open neutral.

It is likely to remain between our short term levels.

NIFTY short term support is between 15700-15750 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 increased to 34700.

Max pain for USDINR is same at 74.50.

Can look for Long PUT/Short CALL on rally.

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.

Algo Trading:

Weekly BANKNIFTY strategies trades: Under control.

Today's Trading Plan (manual):

Initiate NIFTY Covered CALL positional trades.

Initiate Stock monthly positional trades.

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-tata-consumer-products-7264851.html