Indian Market Outlook: August 10, 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 35320-35420 and resistance is between 36400-36500.

Max pain for NIFTY is same at 16250.

Max pain for BANKNIFTY has increased to 36000.

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.

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Trade setup:

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