Indian Market Outlook: August 13, 2021

 

NIFTY is likely to open neutral.

It is likely to remain between our short term levels.


NIFTY short term support is between 16150-16200 and resistance is between 16400-16450.


BANKNIFTY short term support is between 35320-35420 and resistance is between 36300-36400.


Max pain for NIFTY has increased to16300.

Max pain for BANKNIFTY has increased to 36000.

Max pain for USDINR has decreased to 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: Closed in GREEN.

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-apollo-hospitals-7325611.html


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