Indian Market Outlook: August 05, 2021


NIFTY is likely to open neutral.

It is likely to remain between our short term levels.


NIFTY short term support is between 15990-16040 and resistance is between 16350-16400.


BANKNIFTY short term support is between 35140-35240 and resistance is between 36400-36500.


Max pain for NIFTY has increased to 16150.

Max pain for BANKNIFTY has increased to 35800.

Max pain for USDINR is same at 74.25.


Can look for Long CALL/Short PUT on drop.



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: Under control..

Algo Trading:
BANKNIFTY strategies trades: Under control.

Today's Trading Plan (manual):
Manage open positions.







Trade setup:

https://www.moneycontrol.com/news/business/markets/options-trade-an-earnings-based-non-directional-options-strategy-in-gail-india-7279171.html



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