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.

More info:
1. Moneycontrol Interview: 
2. Elearnmarkets Face2Face Interview: 
3. Interview: 

Trade setup:

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