Indian Market Outlook: August 30, 2021


NIFTY is likely to open positive.

It is likely to remain between our short term levels.

NIFTY short term support is between 16550-16600 and resistance is between 16780-16830.

BANKNIFTY short term support is between 35350-35450 and resistance is between 36000-36100.

Max pain for NIFTY has increased to 16650.

Max pain for BANKNIFTY is same at 35600.

Max pain for USDINR has reduced to 74.00.

Can look for Long PUT/Short CALL near short term resistance levels.

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:
BANKNIFTY strategies trades: Under control.

Today's Trading Plan (manual):
Initiate stock option strategy positional trades.

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