Indian Market Outlook: September 06, 2021

NIFTY is likely to open positive.

It is likely to remain between our short term levels.

NIFTY short term support is between 17140-17190 and resistance is between 17400-17450.

BANKNIFTY short term support is between 36400-36500 and resistance is between 37200-37300.

Max pain for NIFTY has increased to 17250.

Max pain for BANKNIFTY is same at 36800.

Max pain for USDINR has reduced to 73.00.

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: None.

Algo Trading:
BANKNIFTY strategies trades: Under control.

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

Trade setup:

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