Indian Market Outlook: August 20, 2021


NIFTY is likely to open negative.

It is likely to remain between our short term levels.

NIFTY short term support is between 16200-16250 and resistance is between 16650-16700.

BANKNIFTY short term support is between 34650-34750 and resistance is between 36300-36400.

Max pain for NIFTY is same at 16500.

Max pain for BANKNIFTY has reduced to 35800.

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: Under control..

Algo Trading:
BANKNIFTY strategies trades: Close in GREEN.

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

Trade setup:

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